Pullen Investment Management LLC Sells 96 Shares of Mastercard Incorporated $MA

Pullen Investment Management LLC cut its position in shares of Mastercard Incorporated (NYSE:MA) by 9.2% in the second quarter, Holdings Channel reports. The institutional investor owned 945 shares of the credit services provider’s stock after selling 96 shares during the period. Pullen Investment Management LLC’s holdings in Mastercard were worth $531,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. LGT Financial Advisors LLC acquired a new position in Mastercard during the second quarter valued at approximately $25,000. Family Legacy Financial Solutions LLC acquired a new position in Mastercard during the second quarter valued at approximately $26,000. Flaharty Asset Management LLC acquired a new position in Mastercard during the first quarter valued at approximately $27,000. Keystone Global Partners LLC acquired a new position in Mastercard during the first quarter valued at approximately $31,000. Finally, IMG Wealth Management Inc. acquired a new position in Mastercard during the second quarter valued at approximately $31,000. 97.28% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO J. Mehra Sachin sold 17,263 shares of Mastercard stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $591.00, for a total transaction of $10,202,433.00. Following the completion of the sale, the chief financial officer directly owned 31,234 shares of the company’s stock, valued at approximately $18,459,294. This trade represents a 35.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.09% of the company’s stock.

Mastercard Stock Performance

NYSE:MA opened at $573.72 on Friday. The stock has a market cap of $518.65 billion, a P/E ratio of 38.69, a PEG ratio of 2.35 and a beta of 0.97. The stock has a 50 day simple moving average of $579.51 and a 200 day simple moving average of $566.01. 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 1-year low of $465.59 and a 1-year high of $601.77.

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

Mastercard Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Thursday, October 9th will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, October 9th. Mastercard’s dividend payout ratio (DPR) is presently 20.50%.

Analysts Set New Price Targets

Several brokerages recently commented on MA. Truist Financial set a $638.00 price target on Mastercard in a research report on Friday. The Goldman Sachs Group reissued a “buy” rating on shares of Mastercard in a research report on Friday, August 1st. Seaport Res Ptn raised Mastercard from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 14th. Robert W. Baird raised 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. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $665.00 price objective on shares of Mastercard in a research report on Wednesday. Five research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Mastercard currently has an average rating of “Buy” and an average target price of $638.96.

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.