Mastercard Incorporated (NYSE:MA) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc cut its stake in shares of Mastercard Incorporated (NYSE:MA) by 5.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 126,077 shares of the credit services provider’s stock after selling 7,871 shares during the period. CIBC Asset Management Inc’s holdings in Mastercard were worth $55,620,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd purchased a new position in Mastercard during the fourth quarter worth about $26,000. VitalStone Financial LLC grew its holdings in Mastercard by 300.0% during the fourth quarter. VitalStone Financial LLC now owns 60 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 45 shares during the period. Westend Capital Management LLC purchased a new position in Mastercard in the first quarter worth $27,000. Palisade Asset Management LLC purchased a new stake in shares of Mastercard during the 1st quarter worth $27,000. Finally, Scarborough Advisors LLC acquired a new position in shares of Mastercard during the 4th quarter worth $28,000. 97.28% of the stock is owned by institutional investors and hedge funds.

Mastercard Trading Up 0.5 %

NYSE MA traded up $2.54 during trading hours on Monday, hitting $483.34. 2,982,100 shares of the company’s stock were exchanged, compared to its average volume of 2,451,811. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market capitalization of $446.53 billion, a P/E ratio of 38.42, a price-to-earnings-growth ratio of 1.90 and a beta of 1.09. The business’s 50 day moving average is $453.20 and its 200-day moving average is $459.06. Mastercard Incorporated has a 12-month low of $359.77 and a 12-month high of $490.00.

Mastercard Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Tuesday, July 9th were given a $0.66 dividend. The ex-dividend date was Tuesday, July 9th. This represents a $2.64 annualized dividend and a dividend yield of 0.55%. Mastercard’s dividend payout ratio is presently 20.99%.

Insider Activity at Mastercard

In other news, major shareholder Foundation Mastercard sold 90,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $468.80, for a total transaction of $42,192,000.00. Following the completion of the sale, the insider now directly owns 91,649,308 shares in the company, valued at approximately $42,965,195,590.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Mastercard news, CFO J. Mehra Sachin sold 13,439 shares of Mastercard stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $455.00, for a total transaction of $6,114,745.00. Following the transaction, the chief financial officer now directly owns 27,304 shares of the company’s stock, valued at $12,423,320. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Foundation Mastercard sold 90,000 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $468.80, for a total transaction of $42,192,000.00. Following the completion of the sale, the insider now directly owns 91,649,308 shares of the company’s stock, valued at approximately $42,965,195,590.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,406,959 shares of company stock worth $638,333,126. 0.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on MA shares. Royal Bank of Canada boosted their price objective on shares of Mastercard from $500.00 to $526.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Evercore ISI lowered their price target on Mastercard from $540.00 to $525.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. JPMorgan Chase & Co. lifted their price objective on Mastercard from $500.00 to $570.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. KeyCorp boosted their target price on Mastercard from $490.00 to $515.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, BMO Capital Markets restated an “outperform” rating and issued a $520.00 price target on shares of Mastercard in a research report on Wednesday, August 14th. Three research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $512.09.

Mastercard Company Profile

Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. The company offers integrated products and value-added services for account holders, merchants, financial institutions, digital partners, businesses, governments, and other organizations, such as programs that enable issuers to provide consumers with credits to defer payments; payment products and solutions that allow its customers to access funds in deposit and other accounts; prepaid programs services; and commercial credit, debit, and prepaid payment products and solutions.