Progressive Investment Management Corp Decreases Stake in Mastercard Incorporated (NYSE:MA)

Progressive Investment Management Corp lowered its position in Mastercard Incorporated (NYSE:MA) by 2.1% during the first quarter, HoldingsChannel reports. The firm owned 18,613 shares of the credit services provider’s stock after selling 408 shares during the period. Mastercard comprises 2.9% of Progressive Investment Management Corp’s holdings, making the stock its 14th biggest position. Progressive Investment Management Corp’s holdings in Mastercard were worth $10,202,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of MA. Brighton Jones LLC raised its holdings in shares of Mastercard by 42.3% during the 4th quarter. Brighton Jones LLC now owns 6,824 shares of the credit services provider’s stock worth $3,594,000 after acquiring an additional 2,028 shares during the period. Bank Pictet & Cie Europe AG increased its position in shares of Mastercard by 11.8% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 70,472 shares of the credit services provider’s stock worth $37,108,000 after purchasing an additional 7,452 shares during the last quarter. Mascagni Wealth Management Inc. acquired a new stake in shares of Mastercard during the 4th quarter worth about $73,000. Trustco Bank Corp N Y acquired a new stake in shares of Mastercard during the 4th quarter worth about $211,000. Finally, Jump Financial LLC increased its position in shares of Mastercard by 14.1% during the 4th quarter. Jump Financial LLC now owns 3,940 shares of the credit services provider’s stock worth $2,075,000 after purchasing an additional 486 shares during the last quarter. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Insider Transactions at Mastercard

In other news, insider Linda Pistecchia Kirkpatrick sold 958 shares of the company’s stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $560.00, for a total transaction of $536,480.00. Following the completion of the sale, the insider owned 23,624 shares in the company, valued at $13,229,440. This represents a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Julius Genachowski sold 312 shares of the company’s stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $570.67, for a total value of $178,049.04. Following the sale, the director owned 8,469 shares of the company’s stock, valued at $4,833,004.23. This trade represents a 3.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,453 shares of company stock worth $20,178,667 in the last three months. Corporate insiders own 0.09% of the company’s stock.

Mastercard Stock Performance

Shares of MA opened at $582.06 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 2.41. Mastercard Incorporated has a 52-week low of $461.90 and a 52-week high of $594.71. The stock has a 50 day moving average price of $563.30 and a 200 day moving average price of $554.64. The company has a market capitalization of $526.19 billion, a price-to-earnings ratio of 39.25, a price-to-earnings-growth ratio of 2.39 and a beta of 1.03.

Mastercard (NYSE:MA) last issued its quarterly earnings data on Thursday, July 31st. The credit services provider reported $4.15 earnings per share for the quarter, beating analysts’ consensus estimates of $4.05 by $0.10. Mastercard had a return on equity of 200.01% and a net margin of 44.93%. The company had revenue of $8.13 billion during the quarter, compared to analysts’ expectations of $7.95 billion. During the same quarter in the previous year, the business earned $3.50 earnings per share. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. Research analysts predict that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Mastercard Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Wednesday, July 9th were paid a $0.76 dividend. The ex-dividend date was Wednesday, July 9th. This represents a $3.04 dividend on an annualized basis and a yield of 0.5%. Mastercard’s payout ratio is currently 20.50%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on MA shares. Wells Fargo & Company raised their price objective on Mastercard from $625.00 to $650.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Jefferies Financial Group reissued a “buy” rating on shares of Mastercard in a research report on Friday, June 6th. Macquarie cut their price objective on Mastercard from $645.00 to $610.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. UBS Group raised their price objective on Mastercard from $660.00 to $670.00 and gave the stock a “buy” rating in a research report on Tuesday, June 3rd. Finally, Wolfe Research set a $655.00 price objective on Mastercard in a research report on Monday, June 23rd. Five investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $617.93.

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.