Price T Rowe Associates Inc. MD decreased its holdings in shares of Mastercard Inc (NYSE:MA) by 1.6% during the second quarter, Holdings Channel.com reports. The fund owned 30,362,830 shares of the credit services provider’s stock after selling 498,108 shares during the period. Mastercard accounts for approximately 1.1% of Price T Rowe Associates Inc. MD’s holdings, making the stock its 9th biggest holding. Price T Rowe Associates Inc. MD’s holdings in Mastercard were worth $8,031,879,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Joseph P. Lucia & Associates LLC acquired a new position in Mastercard in the second quarter valued at approximately $26,000. Delphi Private Advisors LLC acquired a new position in shares of Mastercard during the 2nd quarter worth approximately $31,000. Evolution Wealth Advisors LLC acquired a new position in shares of Mastercard during the 2nd quarter worth approximately $31,000. TCG Advisors LP raised its stake in shares of Mastercard by 49.5% during the 2nd quarter. TCG Advisors LP now owns 151 shares of the credit services provider’s stock worth $41,000 after buying an additional 50 shares during the period. Finally, Litman Gregory Asset Management LLC acquired a new position in shares of Mastercard during the 2nd quarter worth approximately $47,000. Institutional investors and hedge funds own 74.30% of the company’s stock.
MA traded up $2.16 during mid-day trading on Monday, hitting $273.33. 1,527,932 shares of the stock were exchanged, compared to its average volume of 3,441,065. The firm’s fifty day moving average is $276.14 and its two-hundred day moving average is $257.89. Mastercard Inc has a 1-year low of $171.89 and a 1-year high of $293.69. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 1.55. The company has a market cap of $279.93 billion, a PE ratio of 42.12, a PEG ratio of 2.29 and a beta of 1.08.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Wednesday, October 9th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 0.48%. The ex-dividend date is Tuesday, October 8th. Mastercard’s payout ratio is 20.34%.
Several research analysts have recently weighed in on the company. BMO Capital Markets set a $328.00 target price on Mastercard and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Morgan Stanley upped their target price on Mastercard from $291.00 to $315.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Bank of America upped their target price on Mastercard from $255.00 to $267.00 and gave the stock a “neutral” rating in a research note on Monday, June 17th. Raymond James upped their target price on Mastercard from $300.00 to $308.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Finally, Susquehanna Bancshares boosted their price target on Mastercard from $293.00 to $320.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Mastercard presently has an average rating of “Buy” and an average price target of $299.09.
In other Mastercard news, insider Michael Miebach sold 2,770 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $285.00, for a total value of $789,450.00. Following the sale, the insider now owns 12,778 shares of the company’s stock, valued at approximately $3,641,730. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Craig Vosburg sold 8,314 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $266.03, for a total value of $2,211,773.42. Following the completion of the sale, the insider now directly owns 33,047 shares in the company, valued at approximately $8,791,493.41. The disclosure for this sale can be found here. In the last three months, insiders have sold 148,457 shares of company stock worth $40,747,113. 3.70% of the stock is owned by corporate insiders.
Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers related products and services.
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