Mastercard Incorporated (NYSE:MA) Shares Purchased by DAVENPORT & Co LLC

DAVENPORT & Co LLC increased its stake in Mastercard Incorporated (NYSE:MA) by 0.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 306,069 shares of the credit services provider’s stock after acquiring an additional 842 shares during the period. Mastercard makes up approximately 1.0% of DAVENPORT & Co LLC’s investment portfolio, making the stock its 16th biggest position. DAVENPORT & Co LLC’s holdings in Mastercard were worth $167,228,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Summit Trail Advisors LLC boosted its stake in Mastercard by 16.4% during the first quarter. Summit Trail Advisors LLC now owns 21,192 shares of the credit services provider’s stock valued at $11,616,000 after buying an additional 2,991 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Mastercard by 2.8% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 106,771 shares of the credit services provider’s stock valued at $58,523,000 after acquiring an additional 2,933 shares during the last quarter. Von Berge Wealth Management Group LLC boosted its position in shares of Mastercard by 5.7% during the 1st quarter. Von Berge Wealth Management Group LLC now owns 466 shares of the credit services provider’s stock valued at $250,000 after purchasing an additional 25 shares in the last quarter. Lincoln Capital Corp boosted its position in shares of Mastercard by 2.5% during the 1st quarter. Lincoln Capital Corp now owns 3,929 shares of the credit services provider’s stock valued at $2,154,000 after purchasing an additional 96 shares in the last quarter. Finally, Rovin Capital UT ADV boosted its position in shares of Mastercard by 11.2% during the 1st quarter. Rovin Capital UT ADV now owns 476 shares of the credit services provider’s stock valued at $261,000 after purchasing an additional 48 shares in the last quarter. Institutional investors and hedge funds own 97.28% of the company’s stock.

Mastercard Price Performance

MA opened at $561.96 on Tuesday. The stock has a fifty day moving average price of $564.18 and a 200 day moving average price of $545.76. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.81. Mastercard Incorporated has a 1 year low of $428.86 and a 1 year high of $594.71. The stock has a market cap of $512.34 billion, a price-to-earnings ratio of 39.41, a PEG ratio of 2.40 and a beta of 1.05.

Mastercard (NYSE:MA) last posted its quarterly 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 the consensus estimate of $7.12 billion. Mastercard had a return on equity of 196.87% and a net margin of 45.21%. The business’s quarterly revenue was up 14.2% on a year-over-year basis. During the same period last year, the business earned $3.31 EPS. Analysts forecast that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Mastercard Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Wednesday, July 9th will be paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date is Wednesday, July 9th. Mastercard’s dividend payout ratio (DPR) is presently 21.32%.

Insider Buying and Selling

In other Mastercard news, insider Linda Pistecchia Kirkpatrick sold 958 shares of the firm’s stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $560.00, for a total transaction of $536,480.00. Following the transaction, the insider directly owned 23,624 shares in the company, valued at $13,229,440. This trade represents a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Raj Seshadri sold 1,100 shares of the business’s stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $546.77, for a total value of $601,447.00. Following the completion of the sale, the insider directly owned 12,921 shares of the company’s stock, valued at $7,064,815.17. This represents a 7.85% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,441 shares of company stock valued at $20,173,035. 0.09% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently commented on MA shares. Tigress Financial reiterated a “strong-buy” rating on shares of Mastercard in a report on Monday, March 10th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $633.00 price target on shares of Mastercard in a report on Wednesday, April 2nd. Monness Crespi & Hardt lowered Mastercard from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 9th. UBS Group lifted their target price on Mastercard from $660.00 to $670.00 and gave the stock a “buy” rating in a report on Tuesday, June 3rd. Finally, KeyCorp upped their target price on Mastercard from $630.00 to $635.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. Seven 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. According to MarketBeat.com, Mastercard presently has an average rating of “Moderate Buy” and a consensus target price of $611.50.

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.