TD Asset Management Inc Reduces Stake in Mastercard Incorporated $MA

TD Asset Management Inc reduced its position in Mastercard Incorporated (NYSE:MA) by 3.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 963,644 shares of the credit services provider’s stock after selling 33,674 shares during the period. TD Asset Management Inc’s holdings in Mastercard were worth $541,510,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Mastercard by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 77,544,675 shares of the credit services provider’s stock valued at $42,503,787,000 after purchasing an additional 365,537 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in Mastercard during the second quarter worth $11,421,213,000. Price T Rowe Associates Inc. MD increased its position in Mastercard by 4.7% during the first 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 in the last quarter. Wellington Management Group LLP increased 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 worth $7,413,936,000 after buying an additional 3,765,378 shares in the last quarter. Finally, Nuveen LLC purchased a new position in Mastercard during the first quarter worth $4,238,764,000. 97.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on MA shares. Truist Financial dropped their price target on Mastercard from $640.00 to $612.00 and set a “buy” rating for the company in a research report on Thursday, July 17th. Wells Fargo & Company raised their price target on Mastercard from $625.00 to $650.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Mastercard in a research report on Wednesday, October 8th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Mastercard in a research report on Friday, August 1st. Finally, Robert W. Baird lifted their price objective on Mastercard from $640.00 to $660.00 and gave the company an “outperform” rating in a research report on Monday, October 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $634.04.

Insider Activity at Mastercard

In other Mastercard news, CFO J. Mehra Sachin sold 17,816 shares of the business’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $586.89, for a total transaction of $10,456,032.24. Following the transaction, the chief financial officer owned 31,234 shares in the company, valued at $18,330,922.26. The trade was a 36.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

Mastercard Price Performance

MA stock opened at $558.89 on Tuesday. The stock has a 50-day moving average price of $580.79 and a two-hundred day moving average price of $563.03. Mastercard Incorporated has a 12-month low of $465.59 and a 12-month high of $601.77. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 2.41. The company has a market cap of $505.24 billion, a PE ratio of 37.69, a price-to-earnings-growth ratio of 2.28 and a beta of 0.97.

Mastercard (NYSE:MA) last posted its quarterly earnings results on Thursday, July 31st. The credit services provider reported $4.15 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $8.13 billion during the quarter, compared to the consensus estimate of $7.95 billion. During the same quarter in the previous year, the business earned $3.50 earnings per share. The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. As a group, research analysts predict that Mastercard Incorporated will post 15.91 EPS for the current year.

Mastercard Dividend Announcement

The company 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 dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, October 9th. Mastercard’s payout ratio is 20.50%.

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.