Investment Management Corp of Ontario Sells 16,135 Shares of Mastercard Incorporated (NYSE:MA)

Investment Management Corp of Ontario decreased its holdings in shares of Mastercard Incorporated (NYSE:MA) by 22.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 55,667 shares of the credit services provider’s stock after selling 16,135 shares during the period. Mastercard accounts for about 1.0% of Investment Management Corp of Ontario’s portfolio, making the stock its 17th largest position. Investment Management Corp of Ontario’s holdings in Mastercard were worth $29,313,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MA. NewSquare Capital LLC purchased a new stake in Mastercard during the fourth quarter valued at approximately $26,000. Marshall Investment Management LLC acquired a new position in shares of Mastercard during the fourth quarter worth $30,000. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Mastercard during the 4th quarter valued at $32,000. Navigoe LLC acquired a new stake in shares of Mastercard in the 4th quarter worth $33,000. Finally, Truvestments Capital LLC increased its position in Mastercard by 62.5% during the 4th quarter. Truvestments Capital LLC now owns 65 shares of the credit services provider’s stock valued at $34,000 after buying an additional 25 shares in the last quarter. 97.28% of the stock is currently owned by institutional investors.

Insider Transactions at Mastercard

In other Mastercard news, insider Edward Grunde Mclaughlin sold 7,132 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $534.68, for a total value of $3,813,337.76. Following the completion of the sale, the insider now directly owns 34,524 shares in the company, valued at $18,459,292.32. This represents a 17.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Miebach sold 15,775 shares of Mastercard stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $550.16, for a total value of $8,678,774.00. Following the transaction, the chief executive officer now owns 84,871 shares in the company, valued at approximately $46,692,629.36. This represents a 15.67 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on MA shares. William Blair restated an “outperform” rating on shares of Mastercard in a research note on Friday, January 31st. Monness Crespi & Hardt downgraded shares of Mastercard from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 9th. Royal Bank of Canada raised their price target on shares of Mastercard from $572.00 to $650.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. DZ Bank raised shares of Mastercard from a “hold” rating to a “buy” rating and set a $620.00 price objective on the stock in a report on Tuesday, February 4th. Finally, Barclays raised their target price on Mastercard from $595.00 to $650.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Mastercard has a consensus rating of “Moderate Buy” and a consensus price target of $606.25.

Mastercard Stock Up 0.2 %

MA stock opened at $568.38 on Friday. Mastercard Incorporated has a 52 week low of $428.86 and a 52 week high of $582.23. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.68. The firm has a 50-day simple moving average of $532.17 and a 200-day simple moving average of $533.23. The stock has a market capitalization of $518.20 billion, a P/E ratio of 40.92, a P/E/G ratio of 2.37 and a beta of 1.06.

Mastercard (NYSE:MA) last posted its quarterly earnings data on Thursday, May 1st. The credit services provider reported $3.73 EPS for the quarter, topping the consensus estimate of $3.57 by $0.16. The company had revenue of $7.25 billion during the quarter, compared to analyst estimates of $7.12 billion. Mastercard had a return on equity of 188.47% and a net margin of 45.71%. Mastercard’s quarterly revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the business earned $3.31 EPS. Equities analysts forecast that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Wednesday, April 9th were paid a dividend of $0.76 per share. The ex-dividend date of this dividend was Wednesday, April 9th. This represents a $3.04 annualized dividend and a yield of 0.53%. Mastercard’s dividend payout ratio (DPR) is presently 21.32%.

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.