Adage Capital Partners GP L.L.C. Sells 24,700 Shares of Mastercard Incorporated $MA

Adage Capital Partners GP L.L.C. cut its holdings in shares of Mastercard Incorporated (NYSE:MA) by 3.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 721,710 shares of the credit services provider’s stock after selling 24,700 shares during the quarter. Mastercard makes up about 0.7% of Adage Capital Partners GP L.L.C.’s investment portfolio, making the stock its 20th biggest position. Adage Capital Partners GP L.L.C. owned about 0.08% of Mastercard worth $395,584,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Measured Risk Portfolios Inc. bought a new stake in Mastercard during the 4th quarter valued at approximately $31,000. Keystone Global Partners LLC purchased a new stake in Mastercard during the 1st quarter valued at approximately $31,000. 10Elms LLP bought a new stake in shares of Mastercard during the fourth quarter valued at approximately $33,000. Hughes Financial Services LLC bought a new stake in shares of Mastercard during the first quarter valued at approximately $34,000. Finally, Mpwm Advisory Solutions LLC purchased a new position in shares of Mastercard in the fourth quarter worth $36,000. 97.28% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO J. Mehra Sachin sold 17,816 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $586.89, for a total value of $10,456,032.24. Following the sale, the chief financial officer directly owned 31,234 shares of the company’s stock, valued at $18,330,922.26. This represents a 36.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Raj Seshadri sold 1,100 shares of the business’s stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $546.77, for a total value of $601,447.00. Following the transaction, the insider owned 12,921 shares of the company’s stock, valued at $7,064,815.17. This trade represents a 7.85% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,269 shares of company stock valued at $30,634,699. 0.09% of the stock is currently owned by company insiders.

Mastercard Trading Up 0.9%

Shares of NYSE MA opened at $595.92 on Tuesday. Mastercard Incorporated has a 1-year low of $465.59 and a 1-year high of $601.77. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.16 and a quick ratio of 1.16. The business’s 50 day moving average is $569.45 and its two-hundred day moving average is $556.79. The stock has a market capitalization of $538.71 billion, a P/E ratio of 40.18, a PEG ratio of 2.44 and a beta of 0.99.

Mastercard (NYSE:MA) last posted its quarterly earnings data on Thursday, July 31st. The credit services provider reported $4.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.05 by $0.10. The business had revenue of $8.13 billion during the quarter, compared to analyst estimates of $7.95 billion. Mastercard had a return on equity of 200.01% and a net margin of 44.93%.The company’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period last year, the company earned $3.50 EPS. As a group, research analysts expect that Mastercard Incorporated will post 15.91 EPS for the current 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 given a dividend of $0.76 per share. 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 20.50%.

Wall Street Analysts Forecast Growth

MA has been the subject of several research analyst reports. Wells Fargo & Company raised their target price on shares of Mastercard from $625.00 to $650.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Deutsche Bank Aktiengesellschaft began coverage on Mastercard in a research report on Thursday, July 17th. They set a “buy” rating and a $650.00 price objective for the company. Seaport Res Ptn upgraded Mastercard from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 14th. Wolfe Research set a $655.00 price target on Mastercard in a report on Monday, June 23rd. Finally, KeyCorp lifted their price objective on Mastercard from $635.00 to $660.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Mastercard presently has an average rating of “Moderate Buy” and an average price target of $617.93.

About Mastercard

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.