Cullinan Associates Inc. Sells 500 Shares of Mastercard Incorporated (NYSE:MA)

Cullinan Associates Inc. trimmed its stake in shares of Mastercard Incorporated (NYSE:MA) by 8.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,700 shares of the credit services provider’s stock after selling 500 shares during the period. Cullinan Associates Inc.’s holdings in Mastercard were worth $2,943,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its stake in Mastercard by 120,665.3% during the third quarter. International Assets Investment Management LLC now owns 8,041,758 shares of the credit services provider’s stock valued at $3,971,020,000 after buying an additional 8,035,099 shares during the last quarter. Swedbank AB purchased a new position in shares of Mastercard in the first quarter valued at $660,652,000. PineStone Asset Management Inc. grew its holdings in shares of Mastercard by 145.6% in the second quarter. PineStone Asset Management Inc. now owns 1,777,468 shares of the credit services provider’s stock valued at $784,148,000 after purchasing an additional 1,053,616 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in Mastercard in the second quarter worth $259,071,000. Finally, Capital World Investors lifted its position in Mastercard by 13.3% during the first quarter. Capital World Investors now owns 3,293,617 shares of the credit services provider’s stock valued at $1,586,107,000 after purchasing an additional 387,317 shares during the last quarter. 97.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MA. KeyCorp boosted their target price on shares of Mastercard from $490.00 to $515.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Royal Bank of Canada upped their price objective on Mastercard from $500.00 to $526.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Piper Sandler lifted their target price on Mastercard from $531.00 to $536.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Compass Point started coverage on Mastercard in a report on Wednesday, September 4th. They set a “neutral” rating and a $525.00 price target on the stock. Finally, Oppenheimer assumed coverage on Mastercard in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $591.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Mastercard has an average rating of “Moderate Buy” and an average target price of $525.68.

Mastercard Stock Up 0.5 %

NYSE MA traded up $2.41 on Friday, reaching $513.03. 116,780 shares of the stock traded hands, compared to its average volume of 2,421,863. Mastercard Incorporated has a 12 month low of $359.77 and a 12 month high of $518.82. The company has a market cap of $476.92 billion, a price-to-earnings ratio of 40.58, a PEG ratio of 2.22 and a beta of 1.10. The company has a fifty day moving average price of $490.23 and a 200-day moving average price of $464.93. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.14 and a current ratio of 1.14.

Mastercard (NYSE:MA) last released its quarterly earnings data on Wednesday, July 31st. The credit services provider reported $3.59 earnings per share for the quarter, beating the consensus estimate of $3.51 by $0.08. Mastercard had a return on equity of 179.78% and a net margin of 46.45%. The firm had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.85 billion. As a group, research analysts forecast that Mastercard Incorporated will post 14.3 EPS for the current fiscal year.

Mastercard Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th will be paid a dividend of $0.66 per share. The ex-dividend date is Wednesday, October 9th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.51%. Mastercard’s dividend payout ratio is presently 20.99%.

Insider Activity

In related news, major shareholder Foundation Mastercard sold 119,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $468.46, for a total value of $55,746,740.00. Following the completion of the transaction, the insider now owns 92,033,308 shares of the company’s stock, valued at $43,113,923,465.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CMO Venkata R. Madabhushi sold 4,685 shares of Mastercard stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $493.10, for a total value of $2,310,173.50. Following the transaction, the chief marketing officer now owns 17,118 shares of the company’s stock, valued at $8,440,885.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Foundation Mastercard sold 119,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $468.46, for a total transaction of $55,746,740.00. Following the transaction, the insider now owns 92,033,308 shares of the company’s stock, valued at approximately $43,113,923,465.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 340,809 shares of company stock worth $159,610,703. Corporate insiders own 0.10% of the company’s stock.

About Mastercard

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.