State Board of Administration of Florida Retirement System Sells 6,460 Shares of Mastercard Incorporated $MA

State Board of Administration of Florida Retirement System lessened its position in shares of Mastercard Incorporated (NYSE:MA) by 0.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 789,153 shares of the credit services provider’s stock after selling 6,460 shares during the period. Mastercard accounts for 0.8% of State Board of Administration of Florida Retirement System’s investment portfolio, making the stock its 16th largest position. State Board of Administration of Florida Retirement System owned about 0.09% of Mastercard worth $443,457,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in MA. LGT Financial Advisors LLC bought a new position in Mastercard during the second quarter worth about $25,000. Family Legacy Financial Solutions LLC purchased a new stake in shares of Mastercard during the 2nd quarter valued at approximately $26,000. Flaharty Asset Management LLC purchased a new stake in shares of Mastercard during the 1st quarter valued at approximately $27,000. Keystone Global Partners LLC bought a new position in Mastercard in the 1st quarter worth approximately $31,000. Finally, IMG Wealth Management Inc. purchased a new position in Mastercard in the 2nd quarter valued at approximately $31,000. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Insider Buying and Selling at Mastercard

In other news, CFO J. Mehra Sachin sold 17,263 shares of Mastercard stock in a transaction on Tuesday, September 2nd. The shares were 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. The trade was a 35.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.09% of the company’s stock.

Mastercard Stock Performance

NYSE:MA opened at $545.56 on Thursday. The stock has a market cap of $489.91 billion, a P/E ratio of 36.79, a PEG ratio of 2.27 and a beta of 0.92. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 2.41. The business’s 50-day moving average price is $560.52 and its two-hundred day moving average price is $568.64. Mastercard Incorporated has a twelve month low of $465.59 and a twelve month high of $601.77.

Mastercard (NYSE:MA) last posted its quarterly earnings data on Thursday, October 30th. The credit services provider reported $4.38 earnings per share for the quarter, topping the consensus estimate of $4.31 by $0.07. The company had revenue of $8.60 billion for the quarter, compared to analysts’ expectations of $8.53 billion. Mastercard had a net margin of 44.93% and a return on equity of 200.01%. Mastercard’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period in the prior year, the business earned $3.89 earnings per share. As a group, equities analysts predict that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Mastercard Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Thursday, October 9th were issued a $0.76 dividend. The ex-dividend date of this dividend was Thursday, October 9th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.6%. Mastercard’s dividend payout ratio is presently 19.44%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Truist Financial cut their price target on Mastercard from $638.00 to $630.00 and set a “buy” rating for the company in a report on Tuesday, November 4th. Robert W. Baird increased their price objective on Mastercard from $640.00 to $660.00 and gave the stock an “outperform” rating in a report on Monday, October 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mastercard in a report on Wednesday, October 8th. Royal Bank Of Canada upped their price target on Mastercard from $645.00 to $654.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Finally, Cowen restated a “buy” rating on shares of Mastercard in a research report on Friday, October 31st. Four analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Mastercard presently has an average rating of “Buy” and a consensus target price of $652.50.

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.