Migdal Insurance & Financial Holdings Ltd. Has $21.11 Million Stock Position in Mastercard Incorporated (NYSE:MA)

Migdal Insurance & Financial Holdings Ltd. reduced its stake in shares of Mastercard Incorporated (NYSE:MA) by 70.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,512 shares of the credit services provider’s stock after selling 90,492 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Mastercard were worth $21,109,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in MA. Measured Risk Portfolios Inc. bought a new stake in Mastercard during the 4th quarter worth about $31,000. 10Elms LLP acquired a new position in shares of Mastercard in the fourth quarter valued at $33,000. Hughes Financial Services LLC acquired a new position in shares of Mastercard in the first quarter valued at about $34,000. Navigoe LLC acquired a new position in shares of Mastercard in the fourth quarter valued at about $33,000. Finally, Mpwm Advisory Solutions LLC bought a new stake in Mastercard during the fourth quarter worth about $36,000. Institutional investors and hedge funds own 97.28% of the company’s stock.

Analyst Ratings Changes

MA has been the subject of a number of research reports. Macquarie dropped their target price on shares of Mastercard from $645.00 to $610.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Seaport Res Ptn raised Mastercard from a “hold” rating to a “strong-buy” rating in a research note on Monday. KeyCorp increased their target price on shares of Mastercard from $630.00 to $635.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. Truist Financial lowered their target price on shares of Mastercard from $640.00 to $612.00 and set a “buy” rating for the company in a report on Thursday. Finally, Jefferies Financial Group restated a “buy” rating on shares of Mastercard in a report on Friday, June 6th. Six analysts have rated the stock with a hold rating, twenty-four have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $612.90.

Insiders Place Their Bets

In other news, insider Craig Vosburg sold 14,051 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $585.05, for a total transaction of $8,220,537.55. Following the transaction, the insider owned 58,451 shares in the company, valued at $34,196,757.55. This trade represents a 19.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Raj Seshadri sold 1,100 shares of the firm’s stock in a transaction on Friday, June 27th. The stock was sold at an average price of $546.77, for a total value of $601,447.00. Following the completion of the sale, the insider directly owned 12,921 shares of the company’s stock, valued at $7,064,815.17. This trade represents a 7.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,753 shares of company stock worth $20,351,084. Corporate insiders own 0.09% of the company’s stock.

Mastercard Price Performance

Shares of MA stock traded down $2.49 on Friday, reaching $553.12. The company’s stock had a trading volume of 241,363 shares, compared to its average volume of 2,657,197. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.81. The stock’s fifty day simple moving average is $567.61 and its 200-day simple moving average is $548.26. The company has a market capitalization of $504.28 billion, a price-to-earnings ratio of 38.69, a price-to-earnings-growth ratio of 2.41 and a beta of 1.02. Mastercard Incorporated has a 1 year low of $428.86 and a 1 year high of $594.71.

Mastercard (NYSE:MA) last announced its earnings results on Thursday, May 1st. The credit services provider reported $3.73 EPS for the quarter, topping analysts’ consensus estimates of $3.57 by $0.16. Mastercard had a net margin of 45.21% and a return on equity of 196.87%. The business had revenue of $7.25 billion during the quarter, compared to the consensus estimate of $7.12 billion. During the same period in the previous year, the company posted $3.31 earnings per share. The firm’s revenue was up 14.2% on a year-over-year basis. Analysts forecast that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Wednesday, July 9th will be given a $0.76 dividend. The ex-dividend date of this dividend is Wednesday, July 9th. This represents a $3.04 annualized dividend and a yield of 0.55%. Mastercard’s dividend payout ratio is presently 21.32%.

Mastercard 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.