Harbour Trust & Investment Management Co Reduces Holdings in Mastercard Incorporated $MA

Harbour Trust & Investment Management Co lowered its stake in shares of Mastercard Incorporated (NYSE:MA) by 0.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,069 shares of the credit services provider’s stock after selling 55 shares during the quarter. Mastercard comprises 2.5% of Harbour Trust & Investment Management Co’s holdings, making the stock its 9th largest holding. Harbour Trust & Investment Management Co’s holdings in Mastercard were worth $22,516,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in MA. Family Legacy Financial Solutions LLC bought a new stake in Mastercard during the second quarter valued at about $26,000. Flaharty Asset Management LLC acquired a new stake in Mastercard in the first quarter worth about $27,000. Keystone Global Partners LLC acquired a new stake in Mastercard in the first quarter worth about $31,000. Hughes Financial Services LLC acquired a new stake in Mastercard in the first quarter worth about $34,000. Finally, 1 North Wealth Services LLC acquired a new stake in Mastercard in the first quarter worth about $44,000. Institutional investors own 97.28% of the company’s stock.

Mastercard Trading Up 0.3%

Shares of NYSE:MA opened at $558.89 on Tuesday. Mastercard Incorporated has a 52-week low of $465.59 and a 52-week high of $601.77. The stock has a market cap of $505.24 billion, a price-to-earnings ratio of 37.69, a PEG ratio of 2.28 and a beta of 0.97. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 2.41. The business has a 50-day moving average price of $580.79 and a 200-day moving average price of $563.03.

Mastercard (NYSE:MA) last announced its quarterly earnings data on Thursday, July 31st. The credit services provider reported $4.15 earnings per share (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 firm had revenue of $8.13 billion during the quarter, compared to analysts’ expectations of $7.95 billion. During the same period last year, the business posted $3.50 earnings per share. The company’s revenue for the quarter was up 16.8% compared to the same quarter last year. Equities analysts predict that Mastercard Incorporated will post 15.91 EPS for the current year.

Mastercard Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Thursday, October 9th will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 0.5%. The ex-dividend date is Thursday, October 9th. Mastercard’s dividend payout ratio (DPR) is currently 20.50%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MA. TD Cowen reissued a “buy” rating and issued a $645.00 price target on shares of Mastercard in a report on Monday, August 11th. Wolfe Research set a $655.00 price target on Mastercard in a report on Monday, June 23rd. Deutsche Bank Aktiengesellschaft began coverage on Mastercard in a report on Thursday, July 17th. They issued a “buy” rating and a $650.00 price target for the company. Wells Fargo & Company raised their price target on Mastercard from $625.00 to $650.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Mastercard in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $634.04.

Insiders Place Their Bets

In related news, CFO J. Mehra Sachin sold 17,816 shares of Mastercard stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $586.89, for a total transaction of $10,456,032.24. Following the completion of the transaction, the chief financial officer directly owned 31,234 shares in the company, valued at approximately $18,330,922.26. This trade represents a 36.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

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.