Norway Savings Bank trimmed its holdings in Mastercard Incorporated (NYSE:MA – Free Report) by 7.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,049 shares of the credit services provider’s stock after selling 82 shares during the quarter. Norway Savings Bank’s holdings in Mastercard were worth $518,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Scarborough Advisors LLC acquired a new stake in Mastercard in the fourth quarter worth about $28,000. Greenwood Capital Associates LLC raised its stake in shares of Mastercard by 17.6% during the fourth quarter. Greenwood Capital Associates LLC now owns 655 shares of the credit services provider’s stock worth $279,000 after buying an additional 98 shares during the last quarter. Park National Corp OH lifted its holdings in Mastercard by 9.1% in the first quarter. Park National Corp OH now owns 1,086 shares of the credit services provider’s stock valued at $523,000 after buying an additional 91 shares during the period. Modus Advisors LLC boosted its stake in Mastercard by 0.6% in the first quarter. Modus Advisors LLC now owns 6,655 shares of the credit services provider’s stock valued at $3,205,000 after acquiring an additional 37 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in Mastercard by 7.8% during the 1st quarter. Versant Capital Management Inc now owns 591 shares of the credit services provider’s stock worth $285,000 after acquiring an additional 43 shares during the period. Institutional investors and hedge funds own 97.28% of the company’s stock.
Mastercard Stock Up 0.3 %
Shares of MA stock traded up $1.40 during trading on Tuesday, reaching $508.06. The company’s stock had a trading volume of 842,206 shares, compared to its average volume of 2,429,824. Mastercard Incorporated has a one year low of $359.77 and a one year high of $509.88. The business has a fifty day moving average price of $482.08 and a 200-day moving average price of $463.06. The company has a market cap of $472.30 billion, a price-to-earnings ratio of 40.32, a price-to-earnings-growth ratio of 2.22 and a beta of 1.10. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.95.
Mastercard Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Wednesday, October 9th will be given a dividend of $0.66 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $2.64 annualized dividend and a yield of 0.52%. Mastercard’s dividend payout ratio (DPR) is presently 20.99%.
Analysts Set New Price Targets
Several research analysts have recently issued reports on the company. Argus upgraded Mastercard to a “strong-buy” rating in a research report on Thursday, August 1st. Bank of America raised their target price on Mastercard from $480.00 to $509.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $520.00 price target on shares of Mastercard in a research note on Wednesday, August 14th. Evercore ISI reduced their price objective on shares of Mastercard from $540.00 to $525.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Finally, Citigroup upped their target price on shares of Mastercard from $528.00 to $538.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $523.27.
Read Our Latest Research Report on MA
Insider Buying and Selling at Mastercard
In other news, CMO Venkata R. Madabhushi sold 4,685 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $489.86, for a total transaction of $2,294,994.10. Following the sale, the chief marketing officer now owns 15,031 shares in the company, valued at $7,363,085.66. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CMO Venkata R. Madabhushi sold 4,685 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $489.86, for a total transaction of $2,294,994.10. Following the transaction, the chief marketing officer now directly owns 15,031 shares in the company, valued at $7,363,085.66. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Foundation Mastercard sold 119,000 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $468.46, for a total transaction of $55,746,740.00. Following the completion of the sale, the insider now directly owns 92,033,308 shares in the company, valued at approximately $43,113,923,465.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 340,809 shares of company stock worth $159,610,703 over the last ninety days. 0.10% of the stock is currently owned by corporate insiders.
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.
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