City Holding Co. Decreases Stock Holdings in Mastercard Incorporated (NYSE:MA)

City Holding Co. reduced its stake in shares of Mastercard Incorporated (NYSE:MA) by 0.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,512 shares of the credit services provider’s stock after selling 63 shares during the quarter. Mastercard makes up 1.2% of City Holding Co.’s holdings, making the stock its 17th largest position. City Holding Co.’s holdings in Mastercard were worth $7,131,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. WT Wealth Management raised its stake in Mastercard by 15.3% in the third quarter. WT Wealth Management now owns 7,738 shares of the credit services provider’s stock valued at $2,690,000 after buying an additional 1,027 shares during the last quarter. Covenant Asset Management LLC raised its stake in Mastercard by 2.2% in the third quarter. Covenant Asset Management LLC now owns 8,989 shares of the credit services provider’s stock valued at $3,125,000 after buying an additional 190 shares during the last quarter. Ardevora Asset Management LLP raised its stake in Mastercard by 15.8% in the third quarter. Ardevora Asset Management LLP now owns 2,200 shares of the credit services provider’s stock valued at $765,000 after buying an additional 300 shares during the last quarter. NEXT Financial Group Inc raised its stake in Mastercard by 5.9% in the third quarter. NEXT Financial Group Inc now owns 5,888 shares of the credit services provider’s stock valued at $2,047,000 after buying an additional 329 shares during the last quarter. Finally, DNB Asset Management AS raised its stake in Mastercard by 20.4% in the third quarter. DNB Asset Management AS now owns 1,189,415 shares of the credit services provider’s stock valued at $413,536,000 after buying an additional 201,247 shares during the last quarter. Hedge funds and other institutional investors own 73.78% of the company’s stock.

In related news, major shareholder Foundation Mastercard sold 90,994 shares of Mastercard stock in a transaction that occurred on Friday, November 19th. The stock was sold at an average price of $344.48, for a total transaction of $31,345,613.12. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael Miebach sold 10,670 shares of Mastercard stock in a transaction that occurred on Monday, November 15th. The stock was sold at an average price of $370.00, for a total value of $3,947,900.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 374,646 shares of company stock worth $127,575,078. Company insiders own 0.33% of the company’s stock.

Several brokerages have recently issued reports on MA. Robert W. Baird restated a “buy” rating and issued a $482.00 price objective on shares of Mastercard in a research note on Sunday, August 1st. JPMorgan Chase & Co. raised their price objective on Mastercard from $427.00 to $430.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 17th. Raymond James reduced their price objective on Mastercard from $453.00 to $430.00 and set an “outperform” rating for the company in a research note on Friday, October 29th. Royal Bank of Canada reduced their price objective on Mastercard from $412.00 to $403.00 and set an “outperform” rating for the company in a research note on Friday, October 29th. Finally, Morgan Stanley reduced their price objective on Mastercard from $451.00 to $448.00 and set an “overweight” rating for the company in a research note on Friday, October 29th. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $426.57.

Shares of MA opened at $324.17 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 1.95. Mastercard Incorporated has a 12 month low of $312.38 and a 12 month high of $401.50. The stock’s 50 day moving average is $347.51 and its two-hundred day moving average is $359.45. The firm has a market cap of $318.52 billion, a P/E ratio of 39.87, a PEG ratio of 1.97 and a beta of 1.10.

Mastercard (NYSE:MA) last issued its quarterly earnings data on Thursday, October 28th. The credit services provider reported $2.37 EPS for the quarter, beating the consensus estimate of $2.19 by $0.18. Mastercard had a return on equity of 116.88% and a net margin of 45.50%. The company had revenue of $4.99 billion for the quarter, compared to analyst estimates of $4.95 billion. During the same period last year, the company earned $1.60 earnings per share. Mastercard’s quarterly revenue was up 29.9% compared to the same quarter last year. Equities research analysts forecast that Mastercard Incorporated will post 8.26 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 9th. Stockholders of record on Friday, October 8th were given a $0.44 dividend. The ex-dividend date of this dividend was Thursday, October 7th. This represents a $1.76 annualized dividend and a dividend yield of 0.54%. Mastercard’s dividend payout ratio (DPR) is presently 21.65%.

Mastercard Profile

Mastercard, Inc operates as a technology company. The firm engages in the payments industry that connects consumers, financial institutions, merchants, governments and business. It offers payment solutions for the development and implementation of credit, debit, prepaid, commercial and payment programs.

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Institutional Ownership by Quarter for Mastercard (NYSE:MA)

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