Penobscot Investment Management Company Inc. Reduces Stock Position in Mastercard Incorporated (NYSE:MA)

Penobscot Investment Management Company Inc. lessened its stake in Mastercard Incorporated (NYSE:MA) by 0.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,733 shares of the credit services provider’s stock after selling 153 shares during the quarter. Mastercard makes up about 1.9% of Penobscot Investment Management Company Inc.’s holdings, making the stock its 9th largest position. Penobscot Investment Management Company Inc.’s holdings in Mastercard were worth $20,134,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Sabal Trust CO boosted its position in Mastercard by 4.6% in the first quarter. Sabal Trust CO now owns 14,423 shares of the credit services provider’s stock worth $7,906,000 after purchasing an additional 629 shares during the last quarter. Western Wealth Management LLC increased its position in shares of Mastercard by 0.9% during the 1st quarter. Western Wealth Management LLC now owns 10,359 shares of the credit services provider’s stock valued at $5,678,000 after purchasing an additional 88 shares during the last quarter. Nvest Financial LLC increased its position in shares of Mastercard by 3.8% during the 1st quarter. Nvest Financial LLC now owns 1,487 shares of the credit services provider’s stock valued at $815,000 after purchasing an additional 55 shares during the last quarter. Creative Financial Designs Inc. ADV increased its position in shares of Mastercard by 18.9% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 641 shares of the credit services provider’s stock valued at $351,000 after purchasing an additional 102 shares during the last quarter. Finally, Nova R Wealth Inc. increased its position in shares of Mastercard by 6.6% during the 1st quarter. Nova R Wealth Inc. now owns 1,643 shares of the credit services provider’s stock valued at $900,000 after purchasing an additional 102 shares during the last quarter. Institutional investors own 97.28% of the company’s stock.

Mastercard Stock Performance

Shares of MA opened at $550.02 on Thursday. The company has a market cap of $501.46 billion, a PE ratio of 38.57, a price-to-earnings-growth ratio of 2.43 and a beta of 1.05. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.81. The stock has a 50-day moving average price of $561.86 and a 200-day moving average price of $545.04. Mastercard Incorporated has a 12-month low of $428.86 and a 12-month high of $594.71.

Mastercard (NYSE:MA) last released its earnings results on Thursday, May 1st. The credit services provider reported $3.73 earnings per share for the quarter, topping analysts’ consensus estimates of $3.57 by $0.16. Mastercard had a return on equity of 196.87% and a net margin of 45.21%. The company had revenue of $7.25 billion during the quarter, compared to the consensus estimate of $7.12 billion. During the same quarter in the previous year, the company posted $3.31 EPS. Mastercard’s quarterly revenue was up 14.2% compared to the same quarter last year. As a group, equities analysts forecast that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Wednesday, July 9th will be paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Wednesday, July 9th. Mastercard’s dividend payout ratio (DPR) is presently 21.32%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MA. Monness Crespi & Hardt lowered Mastercard from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 9th. Wall Street Zen lowered Mastercard from a “buy” rating to a “hold” rating in a research report on Saturday, June 14th. UBS Group raised their target price on Mastercard from $660.00 to $670.00 and gave the company a “buy” rating in a research report on Tuesday, June 3rd. Jefferies Financial Group reaffirmed a “buy” rating on shares of Mastercard in a research report on Friday, June 6th. Finally, Macquarie decreased their target price on Mastercard from $645.00 to $610.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Seven equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $610.00.

Insiders Place Their Bets

In related news, insider Sandra A. Arkell sold 150 shares of the company’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $569.45, for a total value of $85,417.50. Following the transaction, the insider now owns 3,555 shares in the company, valued at $2,024,394.75. The trade was a 4.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Raj Seshadri sold 949 shares of the company’s stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $535.80, for a total transaction of $508,474.20. Following the transaction, the insider now owns 14,021 shares in the company, valued at $7,512,451.80. This represents a 6.34% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,115 shares of company stock valued at $18,324,718. 0.09% of the stock is currently owned by corporate insiders.

Mastercard 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.