New Capital Management LP Sells 29 Shares of Mastercard Incorporated $MA

New Capital Management LP trimmed its holdings in shares of Mastercard Incorporated (NYSE:MA) by 1.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,950 shares of the credit services provider’s stock after selling 29 shares during the quarter. New Capital Management LP’s holdings in Mastercard were worth $1,096,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of Mastercard by 65,631.5% during the first quarter. GAMMA Investing LLC now owns 8,225,637 shares of the credit services provider’s stock worth $4,508,636,000 after purchasing an additional 8,213,123 shares in the last quarter. Nuveen LLC bought a new stake in Mastercard during the first quarter valued at approximately $4,238,764,000. Wellington Management Group LLP lifted its position in Mastercard by 38.6% during the first quarter. Wellington Management Group LLP now owns 13,526,118 shares of the credit services provider’s stock valued at $7,413,936,000 after purchasing an additional 3,765,378 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Mastercard in the 4th quarter worth approximately $561,313,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Mastercard by 4.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,096,979 shares of the credit services provider’s stock worth $11,015,557,000 after buying an additional 907,184 shares during the last quarter. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MA. KeyCorp raised their price objective on shares of Mastercard from $635.00 to $660.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Morgan Stanley increased their target price on Mastercard from $639.00 to $661.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. TD Cowen reaffirmed a “buy” rating and set a $645.00 price target on shares of Mastercard in a research note on Monday, August 11th. Seaport Res Ptn upgraded Mastercard from a “hold” rating to a “strong-buy” rating in a report on Monday, July 14th. Finally, Wells Fargo & Company increased their price objective on Mastercard from $625.00 to $650.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Mastercard currently has an average rating of “Moderate Buy” and a consensus price target of $626.54.

Mastercard Stock Down 1.4%

Shares of NYSE:MA opened at $580.75 on Friday. The stock has a market capitalization of $525.00 billion, a P/E ratio of 39.16, a price-to-earnings-growth ratio of 2.41 and a beta of 0.99. The stock’s 50-day moving average price is $574.60 and its 200-day moving average price is $558.33. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 2.41. Mastercard Incorporated has a 12-month low of $465.59 and a 12-month high of $601.77.

Mastercard (NYSE:MA) last issued its earnings results on Thursday, July 31st. The credit services provider reported $4.15 earnings per share for the quarter, beating the consensus estimate of $4.05 by $0.10. Mastercard had a return on equity of 200.01% and a net margin of 44.93%.The company had revenue of $8.13 billion during the quarter, compared to analysts’ expectations of $7.95 billion. During the same period in the prior year, the business posted $3.50 EPS. Mastercard’s quarterly revenue was up 16.8% compared to the same quarter last year. On average, equities analysts anticipate that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Wednesday, July 9th were issued a $0.76 dividend. The ex-dividend date was Wednesday, July 9th. This represents a $3.04 annualized dividend and a dividend yield of 0.5%. Mastercard’s dividend payout ratio (DPR) is currently 20.50%.

Insider Buying and Selling

In other Mastercard news, insider Linda Pistecchia Kirkpatrick sold 958 shares of the business’s stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $560.00, for a total value of $536,480.00. Following the transaction, the insider owned 23,624 shares in the company, valued at approximately $13,229,440. The trade was a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Craig Vosburg sold 9,428 shares of the company’s stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $353.05, for a total transaction of $3,328,555.40. Following the transaction, the insider directly owned 58,451 shares of the company’s stock, valued at approximately $20,636,125.55. This trade represents a 13.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,094 shares of company stock valued at $26,521,861 over the last quarter. Company insiders own 0.09% of the company’s stock.

Mastercard Company 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.