TBH Global Asset Management LLC Sells 2,099 Shares of Mastercard Incorporated $MA

TBH Global Asset Management LLC lessened its holdings in Mastercard Incorporated (NYSE:MA) by 10.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 18,147 shares of the credit services provider’s stock after selling 2,099 shares during the quarter. Mastercard comprises approximately 1.1% of TBH Global Asset Management LLC’s investment portfolio, making the stock its 10th largest holding. TBH Global Asset Management LLC’s holdings in Mastercard were worth $10,197,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Mastercard by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 77,544,675 shares of the credit services provider’s stock worth $42,503,787,000 after purchasing an additional 365,537 shares during the period. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Mastercard during the second quarter worth approximately $11,421,213,000. Price T Rowe Associates Inc. MD raised its holdings in Mastercard by 4.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,096,979 shares of the credit services provider’s stock valued at $11,015,557,000 after acquiring an additional 907,184 shares in the last quarter. Wellington Management Group LLP lifted its stake in Mastercard by 38.6% in the first quarter. Wellington Management Group LLP now owns 13,526,118 shares of the credit services provider’s stock worth $7,413,936,000 after acquiring an additional 3,765,378 shares during the last quarter. Finally, Nuveen LLC purchased a new position in Mastercard in the first quarter worth approximately $4,238,764,000. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MA. Wall Street Zen lowered shares of Mastercard from a “buy” rating to a “hold” rating in a report on Friday. Wolfe Research set a $655.00 target price on Mastercard in a report on Monday, June 23rd. The Goldman Sachs Group restated a “buy” rating on shares of Mastercard in a research note on Friday, August 1st. UBS Group upped 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, Morgan Stanley raised their target price on Mastercard from $639.00 to $661.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Mastercard currently has an average rating of “Buy” and a consensus price target of $630.89.

Insider Transactions at Mastercard

In other news, insider Linda Pistecchia Kirkpatrick sold 958 shares of Mastercard stock in a transaction on Monday, June 30th. The shares were sold at an average price of $560.00, for a total value of $536,480.00. Following the transaction, the insider directly owned 23,624 shares of the company’s stock, valued at $13,229,440. The trade was a 3.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Julius Genachowski sold 312 shares of the stock in a transaction on Monday, July 7th. The stock was sold at an average price of $570.67, for a total transaction of $178,049.04. Following the sale, the director owned 8,469 shares of the company’s stock, valued at approximately $4,833,004.23. This represents a 3.55% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,349 shares of company stock worth $21,372,994. Insiders own 0.09% of the company’s stock.

Mastercard Stock Performance

NYSE MA opened at $565.63 on Friday. The company has a fifty day moving average of $579.00 and a two-hundred day moving average of $560.29. The company has a market capitalization of $511.34 billion, a PE ratio of 38.14, a P/E/G ratio of 2.32 and a beta of 0.99. 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.

Mastercard (NYSE:MA) last posted its earnings results on Thursday, July 31st. The credit services provider reported $4.15 earnings per share 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 the consensus estimate of $7.95 billion. Mastercard had a return on equity of 200.01% and a net margin of 44.93%.The business’s quarterly revenue was up 16.8% on a year-over-year basis. During the same period in the previous year, the business earned $3.50 EPS. As a group, analysts expect that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Thursday, October 9th will be issued a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Thursday, October 9th. Mastercard’s dividend payout ratio is presently 20.50%.

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.