Hardman Johnston Global Advisors LLC Has $71.04 Million Holdings in Mastercard Incorporated $MA

Hardman Johnston Global Advisors LLC lowered its stake in shares of Mastercard Incorporated (NYSE:MA) by 9.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 126,418 shares of the credit services provider’s stock after selling 12,685 shares during the quarter. Mastercard accounts for 3.1% of Hardman Johnston Global Advisors LLC’s investment portfolio, making the stock its 10th largest holding. Hardman Johnston Global Advisors LLC’s holdings in Mastercard were worth $71,039,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the company. Family Legacy Financial Solutions LLC purchased a new stake in Mastercard in the 2nd quarter valued at about $26,000. Flaharty Asset Management LLC bought a new position in shares of Mastercard in the first quarter valued at approximately $27,000. Keystone Global Partners LLC bought a new position in shares of Mastercard in the first quarter valued at approximately $31,000. Hughes Financial Services LLC bought a new position in shares of Mastercard in the first quarter valued at approximately $34,000. Finally, 1 North Wealth Services LLC purchased a new position in Mastercard in the first quarter worth $44,000. 97.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO J. Mehra Sachin sold 17,263 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $591.00, for a total transaction of $10,202,433.00. Following the completion of the transaction, the chief financial officer directly owned 31,234 shares in the company, valued at $18,459,294. The trade was a 35.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Julius Genachowski sold 312 shares of Mastercard stock in a transaction on Monday, July 7th. The shares were sold at an average price of $570.67, for a total value of $178,049.04. Following the sale, the director directly owned 8,469 shares of the company’s stock, valued at $4,833,004.23. This represents a 3.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,391 shares of company stock worth $20,836,514 in the last ninety days. 0.09% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on MA shares. Truist Financial cut their price objective on Mastercard from $640.00 to $612.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. Royal Bank Of Canada raised their price objective on shares of Mastercard from $650.00 to $656.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. Wolfe Research set a $655.00 price objective on shares of Mastercard in a report on Monday, June 23rd. Morgan Stanley increased their target price on shares of Mastercard from $639.00 to $661.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Finally, Wells Fargo & Company increased their target price on shares of Mastercard from $625.00 to $650.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $630.89.

Mastercard Price Performance

Shares of NYSE MA opened at $577.76 on Friday. The stock has a market cap of $522.30 billion, a PE ratio of 38.96, a price-to-earnings-growth ratio of 2.35 and a beta of 0.97. Mastercard Incorporated has a fifty-two week low of $465.59 and a fifty-two week high of $601.77. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a fifty day moving average of $580.00 and a 200-day moving average of $561.32.

Mastercard (NYSE:MA) last issued its earnings results on Thursday, July 31st. The credit services provider reported $4.15 EPS for the quarter, topping the consensus estimate of $4.05 by $0.10. Mastercard had a return on equity of 200.01% and a net margin of 44.93%.The business had revenue of $8.13 billion during the quarter, compared to the consensus estimate of $7.95 billion. During the same quarter last year, the company earned $3.50 EPS. The firm’s revenue was up 16.8% compared to the same quarter last year. Equities research analysts anticipate that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Dividend Announcement

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