Mastercard Incorporated $MA Shares Sold by Canoe Financial LP

Canoe Financial LP lowered its stake in Mastercard Incorporated (NYSE:MA) by 4.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 316,631 shares of the credit services provider’s stock after selling 15,600 shares during the quarter. Mastercard comprises 2.5% of Canoe Financial LP’s portfolio, making the stock its 11th largest position. Canoe Financial LP’s holdings in Mastercard were worth $177,928,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of Mastercard in the second quarter valued at about $1,373,000. Western Pacific Wealth Management LP grew its stake in shares of Mastercard by 6.3% in the second quarter. Western Pacific Wealth Management LP now owns 1,041 shares of the credit services provider’s stock valued at $585,000 after buying an additional 62 shares in the last quarter. Charter Oak Capital Management LLC grew its stake in shares of Mastercard by 51.4% in the second quarter. Charter Oak Capital Management LLC now owns 1,687 shares of the credit services provider’s stock valued at $948,000 after buying an additional 573 shares in the last quarter. Voisard Asset Management Group Inc. grew its stake in shares of Mastercard by 6.4% in the second quarter. Voisard Asset Management Group Inc. now owns 497 shares of the credit services provider’s stock valued at $279,000 after buying an additional 30 shares in the last quarter. Finally, Trust Point Inc. grew its stake in Mastercard by 19.4% during the 2nd quarter. Trust Point Inc. now owns 5,766 shares of the credit services provider’s stock valued at $3,240,000 after purchasing an additional 937 shares in the last quarter. Institutional investors and hedge funds own 97.28% of the company’s stock.

Insider Buying and Selling

In other Mastercard news, CFO J. Mehra Sachin sold 17,263 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $591.00, for a total value of $10,202,433.00. Following the completion of the sale, the chief financial officer owned 31,234 shares of the company’s stock, valued at $18,459,294. The trade was a 35.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Linda Pistecchia Kirkpatrick sold 958 shares of the business’s stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $560.00, for a total value of $536,480.00. Following the completion of the sale, the insider directly owned 23,624 shares of the company’s stock, valued at $13,229,440. This represents a 3.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,717 shares of company stock worth $22,684,831 over the last ninety days. 0.09% of the stock is currently owned by corporate insiders.

Mastercard Stock Performance

Shares of NYSE MA opened at $586.39 on Friday. The business’s 50-day moving average price is $576.55 and its two-hundred day moving average price is $558.89. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.16 and a quick ratio of 1.16. Mastercard Incorporated has a one year low of $465.59 and a one year high of $601.77. The company has a market capitalization of $530.11 billion, a P/E ratio of 39.54, a price-to-earnings-growth ratio of 2.45 and a beta of 0.99.

Mastercard (NYSE:MA) last announced its quarterly earnings results on Thursday, July 31st. The credit services provider reported $4.15 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the firm earned $3.50 earnings per share. The business’s quarterly revenue was up 16.8% compared to the same quarter last year. Analysts anticipate that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Thursday, October 9th will be given a $0.76 dividend. The ex-dividend date of this dividend is Thursday, October 9th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.5%. Mastercard’s payout ratio is currently 20.50%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on MA shares. UBS Group raised their price objective on Mastercard from $660.00 to $670.00 and gave the company a “buy” rating in a research note on Tuesday, June 3rd. Wall Street Zen raised Mastercard from a “hold” rating to a “buy” rating in a report on Friday, July 18th. TD Cowen restated a “buy” rating and issued a $645.00 target price on shares of Mastercard in a research report on Monday, August 11th. KeyCorp raised their target price on Mastercard from $635.00 to $660.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Finally, Truist Financial lowered their target price on Mastercard from $640.00 to $612.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Mastercard presently has an average rating of “Buy” and an average target price of $630.89.

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.