Gabelli Funds LLC cut its stake in Mastercard Incorporated (NYSE:MA) by 1.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 945,800 shares of the credit services provider’s stock after selling 15,000 shares during the period. Mastercard comprises about 0.7% of Gabelli Funds LLC’s holdings, making the stock its 15th largest holding. Gabelli Funds LLC owned about 0.09% of Mastercard worth $114,867,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in MA. Vanguard Group Inc. raised its stake in Mastercard by 2.9% in the first quarter. Vanguard Group Inc. now owns 63,807,040 shares of the credit services provider’s stock valued at $7,176,378,000 after buying an additional 1,814,116 shares in the last quarter. Clearbridge Investments LLC raised its stake in Mastercard by 22,644.6% in the first quarter. Clearbridge Investments LLC now owns 1,685,146 shares of the credit services provider’s stock valued at $189,528,000 after buying an additional 1,677,737 shares in the last quarter. Egerton Capital UK LLP raised its stake in Mastercard by 60.6% in the second quarter. Egerton Capital UK LLP now owns 3,923,766 shares of the credit services provider’s stock valued at $476,541,000 after buying an additional 1,480,425 shares in the last quarter. Swiss National Bank raised its stake in Mastercard by 24.6% in the first quarter. Swiss National Bank now owns 3,660,220 shares of the credit services provider’s stock valued at $411,665,000 after buying an additional 722,600 shares in the last quarter. Finally, TCW Group Inc. raised its stake in Mastercard by 1,000.9% in the first quarter. TCW Group Inc. now owns 783,757 shares of the credit services provider’s stock valued at $88,149,000 after buying an additional 712,562 shares in the last quarter. Hedge funds and other institutional investors own 76.05% of the company’s stock.
Mastercard Incorporated (NYSE MA) opened at 146.85 on Thursday. Mastercard Incorporated has a 12 month low of $99.51 and a 12 month high of $147.12. The company has a 50-day moving average price of $139.22 and a 200 day moving average price of $126.07. The firm has a market cap of $156.38 billion, a PE ratio of 36.44 and a beta of 1.18.
Mastercard (NYSE:MA) last released its quarterly earnings data on Thursday, July 27th. The credit services provider reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.06. The firm had revenue of $3.05 billion for the quarter, compared to analyst estimates of $2.98 billion. Mastercard had a net margin of 38.30% and a return on equity of 74.92%. Mastercard’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.96 earnings per share. Equities research analysts anticipate that Mastercard Incorporated will post $4.44 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Friday, October 6th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $0.88 annualized dividend and a dividend yield of 0.60%. Mastercard’s payout ratio is currently 21.78%.
A number of analysts have weighed in on the company. Wells Fargo & Company upgraded Mastercard from a “market perform” rating to an “outperform” rating and set a $160.00 price target on the stock in a research note on Wednesday. Buckingham Research assumed coverage on Mastercard in a research note on Monday, October 2nd. They issued a “buy” rating and a $163.00 price target on the stock. Cantor Fitzgerald assumed coverage on Mastercard in a research note on Thursday, September 28th. They issued an “overweight” rating and a $165.00 price target on the stock. Zacks Investment Research cut Mastercard from a “buy” rating to a “hold” rating in a research note on Monday, September 25th. Finally, Royal Bank Of Canada raised their price target on Mastercard to $156.00 and gave the company an “outperform” rating in a research note on Friday, September 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-six have issued a buy rating to the company’s stock. Mastercard currently has a consensus rating of “Buy” and an average target price of $143.67.
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In other Mastercard news, major shareholder Foundation Mastercard sold 87,618 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $126.60, for a total value of $11,092,438.80. Following the sale, the insider now owns 112,736,681 shares in the company, valued at $14,272,463,814.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Craig Vosburg sold 14,200 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $141.86, for a total transaction of $2,014,412.00. Following the completion of the sale, the insider now owns 40,646 shares in the company, valued at approximately $5,766,041.56. The disclosure for this sale can be found here. Insiders sold 869,668 shares of company stock worth $112,301,656 in the last 90 days. 0.30% of the stock is owned by company insiders.
Mastercard Company Profile
MasterCard Incorporated is a technology company that connects consumers, financial institutions, merchants, governments and businesses across the world, enabling them to use electronic forms of payment. The Company operates through Payment Solutions segment. The Company allows user to make payments by creating a range of payment solutions and services using its brands, which include MasterCard, Maestro and Cirrus.
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