Canandaigua National Trust Co of Florida Grows Stake in Mastercard Incorporated (NYSE:MA)

Canandaigua National Trust Co of Florida lifted its position in Mastercard Incorporated (NYSE:MA) by 36.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 693 shares of the credit services provider’s stock after buying an additional 185 shares during the period. Canandaigua National Trust Co of Florida’s holdings in Mastercard were worth $380,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. NewSquare Capital LLC bought a new position in Mastercard in the 4th quarter worth $26,000. Measured Risk Portfolios Inc. bought a new position in Mastercard in the 4th quarter worth $31,000. Halbert Hargrove Global Advisors LLC bought a new position in Mastercard in the 4th quarter worth $32,000. Navigoe LLC bought a new position in Mastercard in the 4th quarter worth $33,000. Finally, 10Elms LLP bought a new position in Mastercard in the 4th quarter worth $33,000. 97.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on MA shares. KeyCorp raised their target price on Mastercard from $630.00 to $635.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Macquarie lowered their price objective on Mastercard from $645.00 to $610.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. UBS Group boosted their price objective on Mastercard from $660.00 to $670.00 and gave the company a “buy” rating in a research report on Tuesday, June 3rd. Evercore ISI began coverage on Mastercard in a research report on Wednesday, April 9th. They issued an “in-line” rating and a $550.00 price objective on the stock. Finally, Tigress Financial restated a “strong-buy” rating on shares of Mastercard in a research report on Monday, March 10th. Seven equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Mastercard currently has an average rating of “Moderate Buy” and a consensus price target of $611.50.

Insider Activity

In other Mastercard news, insider Craig Vosburg sold 14,051 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $585.05, for a total transaction of $8,220,537.55. Following the sale, the insider now directly owns 58,451 shares of the company’s stock, valued at approximately $34,196,757.55. This trade represents a 19.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sandra A. Arkell sold 150 shares of the firm’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $580.00, for a total value of $87,000.00. Following the sale, the insider now owns 3,255 shares in the company, valued at $1,887,900. This trade represents a 4.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,383 shares of company stock worth $19,035,108. Insiders own 0.09% of the company’s stock.

Mastercard Stock Up 1.1%

Shares of NYSE MA opened at $552.02 on Monday. The company has a debt-to-equity ratio of 2.81, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market capitalization of $503.28 billion, a price-to-earnings ratio of 38.71, a PEG ratio of 2.40 and a beta of 1.05. The stock has a 50 day moving average price of $563.13 and a 200 day moving average price of $545.53. Mastercard Incorporated has a 52-week low of $428.86 and a 52-week high of $594.71.

Mastercard (NYSE:MA) last posted 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. The company had revenue of $7.25 billion during the quarter, compared to analyst estimates of $7.12 billion. Mastercard had a return on equity of 196.87% and a net margin of 45.21%. Mastercard’s revenue was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.31 earnings per share. Sell-side analysts expect that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Wednesday, July 9th will be issued a dividend of $0.76 per share. The ex-dividend date of this dividend is Wednesday, July 9th. This represents a $3.04 dividend on an annualized basis and a yield of 0.55%. Mastercard’s dividend payout ratio is currently 21.32%.

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.