Mastercard Incorporated (NYSE:MA) Shares Sold by Convergence Investment Partners LLC

Convergence Investment Partners LLC trimmed its position in shares of Mastercard Incorporated (NYSE:MA – Get Rating) by 3.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,273 shares of the credit services provider’s stock after selling 72 shares during the quarter. Convergence Investment Partners LLC’s holdings in Mastercard were worth $646,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MA. Grayhawk Investment Strategies Inc. purchased a new position in Mastercard during the second quarter worth $31,000. Coston McIsaac & Partners acquired a new stake in shares of Mastercard during the second quarter valued at $25,000. Schubert & Co raised its stake in Mastercard by 91.8% in the 2nd quarter. Schubert & Co now owns 94 shares of the credit services provider’s stock valued at $30,000 after purchasing an additional 45 shares during the last quarter. Financial Connections Group Inc. boosted its stake in shares of Mastercard by 419.2% during the 2nd quarter. Financial Connections Group Inc. now owns 135 shares of the credit services provider’s stock worth $42,000 after purchasing an additional 109 shares during the last quarter. Finally, Bangor Savings Bank grew its holdings in shares of Mastercard by 163.5% during the third quarter. Bangor Savings Bank now owns 137 shares of the credit services provider’s stock worth $39,000 after buying an additional 85 shares in the last quarter. Institutional investors and hedge funds own 74.51% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MA. UBS Group reduced their price objective on shares of Mastercard from $456.00 to $441.00 and set a “buy” rating on the stock in a research note on Thursday, December 15th. Jefferies Financial Group raised their price objective on Mastercard from $370.00 to $430.00 and gave the stock a “buy” rating in a report on Wednesday, January 18th. Moffett Nathanson dropped their target price on Mastercard to $420.00 in a research note on Tuesday, November 1st. Redburn Partners began coverage on Mastercard in a research note on Tuesday, November 29th. They issued a “neutral” rating on the stock. Finally, Wells Fargo & Company upped their price objective on shares of Mastercard from $365.00 to $405.00 and gave the company an “overweight” rating in a research note on Thursday, December 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $413.41.

Insider Buying and Selling

In other Mastercard news, major shareholder Foundation Mastercard sold 177,211 shares of the business’s stock in a transaction dated Wednesday, November 9th. The shares were sold at an average price of $318.14, for a total transaction of $56,377,907.54. Following the completion of the transaction, the insider now directly owns 102,211,625 shares of the company’s stock, valued at approximately $32,517,606,377.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Mastercard news, major shareholder Foundation Mastercard sold 177,211 shares of Mastercard stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $318.14, for a total transaction of $56,377,907.54. Following the sale, the insider now owns 102,211,625 shares of the company’s stock, valued at approximately $32,517,606,377.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Edward Grunde Mclaughlin sold 20,000 shares of the stock in a transaction on Friday, January 27th. The stock was sold at an average price of $375.99, for a total value of $7,519,800.00. Following the completion of the transaction, the insider now directly owns 21,579 shares of the company’s stock, valued at approximately $8,113,488.21. The disclosure for this sale can be found here. Insiders have sold a total of 397,807 shares of company stock valued at $129,411,475 in the last quarter. Company insiders own 0.29% of the company’s stock.

Mastercard Stock Performance

Shares of NYSE:MA traded up $0.01 on Wednesday, reaching $370.61. 417,285 shares of the company’s stock were exchanged, compared to its average volume of 3,136,366. Mastercard Incorporated has a fifty-two week low of $276.87 and a fifty-two week high of $399.92. The business’s 50-day moving average is $358.28 and its two-hundred day moving average is $337.16. The company has a quick ratio of 1.25, a current ratio of 1.17 and a debt-to-equity ratio of 2.16. The firm has a market capitalization of $356.33 billion, a price-to-earnings ratio of 36.26, a PEG ratio of 1.64 and a beta of 1.10.

Mastercard (NYSE:MA – Get Rating) last announced its quarterly earnings results on Thursday, January 26th. The credit services provider reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.56 by $0.09. Mastercard had a return on equity of 158.38% and a net margin of 44.65%. The business had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.79 billion. During the same period in the prior year, the firm earned $2.35 EPS. The business’s quarterly revenue was up 11.5% on a year-over-year basis. As a group, equities research analysts forecast that Mastercard Incorporated will post 12.14 EPS for the current year.

Mastercard Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 9th. Stockholders of record on Monday, January 9th will be issued a dividend of $0.57 per share. This is an increase from Mastercard’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Friday, January 6th. This represents a $2.28 annualized dividend and a dividend yield of 0.62%. Mastercard’s payout ratio is 22.31%.

Mastercard Company Profile

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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.