abrdn plc increased its position in shares of Mastercard Incorporated (NYSE:MA) by 0.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,697,927 shares of the credit services provider’s stock after purchasing an additional 12,747 shares during the quarter. Mastercard accounts for about 1.4% of abrdn plc’s investment portfolio, making the stock its 7th largest holding. abrdn plc’s holdings in Mastercard were worth $619,897,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Stuart Chaussee & Associates Inc. raised its position in Mastercard by 196.3% during the first quarter. Stuart Chaussee & Associates Inc. now owns 80 shares of the credit services provider’s stock valued at $28,000 after buying an additional 53 shares during the period. Paragon Wealth Strategies LLC acquired a new position in Mastercard in the 2nd quarter worth about $34,000. Rocky Mountain Advisers LLC acquired a new stake in shares of Mastercard during the 2nd quarter valued at about $36,000. Kelly Lawrence W & Associates Inc. CA acquired a new position in Mastercard in the first quarter worth approximately $36,000. Finally, Harbour Investments Inc. acquired a new position in Mastercard in the first quarter worth approximately $37,000. 73.97% of the stock is currently owned by hedge funds and other institutional investors.
In other Mastercard news, Chairman Ajay Banga sold 60,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 14th. The shares were sold at an average price of $390.34, for a total value of $23,420,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO J. Mehra Sachin sold 7,838 shares of the company’s stock in a transaction that occurred on Friday, July 30th. The shares were sold at an average price of $385.42, for a total transaction of $3,020,921.96. Following the completion of the sale, the chief financial officer now directly owns 20,320 shares of the company’s stock, valued at approximately $7,831,734.40. The disclosure for this sale can be found here. Insiders sold 876,377 shares of company stock worth $330,177,910 over the last 90 days. 0.33% of the stock is currently owned by company insiders.
Mastercard (NYSE:MA) last announced its earnings results on Thursday, July 29th. The credit services provider reported $1.95 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.72 by $0.23. Mastercard had a return on equity of 109.48% and a net margin of 43.22%. The company had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.35 billion. On average, analysts forecast that Mastercard Incorporated will post 8.11 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 9th. Investors of record on Friday, July 9th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date was Thursday, July 8th. Mastercard’s dividend payout ratio (DPR) is 27.37%.
MA has been the topic of several analyst reports. Compass Point increased their price target on Mastercard from $430.00 to $450.00 and gave the company a “buy” rating in a report on Friday, July 30th. UBS Group increased their price target on Mastercard from $400.00 to $445.00 and gave the company a “buy” rating in a report on Friday, July 30th. Morgan Stanley increased their price target on Mastercard from $444.00 to $451.00 and gave the company an “overweight” rating in a report on Friday, July 30th. Mizuho increased their price objective on Mastercard from $435.00 to $450.00 and gave the company a “buy” rating in a research report on Monday, August 2nd. Finally, JPMorgan Chase & Co. increased their price objective on Mastercard from $427.00 to $430.00 and gave the company an “overweight” rating in a research report on Tuesday, August 17th. Two research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $418.48.
Mastercard, Inc operates as a technology company. The firm engages in the payments industry that connects consumers, financial institutions, merchants, governments and business. It offers payment solutions for the development and implementation of credit, debit, prepaid, commercial and payment programs.
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