OVERSEA CHINESE BANKING Corp Ltd Sells 17,227 Shares of Mastercard Incorporated $MA

OVERSEA CHINESE BANKING Corp Ltd decreased its position in Mastercard Incorporated (NYSE:MA) by 32.7% in the second quarter, Holdings Channel.com reports. The firm owned 35,440 shares of the credit services provider’s stock after selling 17,227 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Mastercard were worth $19,905,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. LGT Financial Advisors LLC bought a new position in Mastercard in the second quarter worth $25,000. Family Legacy Financial Solutions LLC bought a new position in Mastercard in the second quarter worth $26,000. Flaharty Asset Management LLC bought a new position in Mastercard in the first quarter worth $27,000. Keystone Global Partners LLC bought a new position in Mastercard in the first quarter worth $31,000. Finally, IMG Wealth Management Inc. bought a new position in Mastercard in the second quarter worth $31,000. Institutional investors own 97.28% of the company’s stock.

Analyst Ratings Changes

MA has been the subject of several analyst reports. KeyCorp restated an “overweight” rating and set a $665.00 price target on shares of Mastercard in a report on Wednesday, October 22nd. Citigroup upgraded Mastercard to a “strong-buy” rating in a report on Thursday. TD Cowen restated a “buy” rating and set a $645.00 price target on shares of Mastercard in a report on Monday, August 11th. Truist Financial set a $638.00 price target on Mastercard in a report on Friday. Finally, Royal Bank Of Canada raised their price target on Mastercard from $650.00 to $656.00 and gave the company an “outperform” rating in a report on Friday, August 1st. Five analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $638.96.

Mastercard Price Performance

Shares of NYSE:MA opened at $573.72 on Monday. The firm has a market cap of $518.65 billion, a price-to-earnings ratio of 38.69, a price-to-earnings-growth ratio of 2.35 and a beta of 0.97. The business has a 50-day simple moving average of $579.51 and a two-hundred day simple moving average of $566.36. 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.

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. The company had revenue of $8.13 billion for the quarter, compared to the consensus estimate of $7.95 billion. Mastercard had a net margin of 44.93% and a return on equity of 200.01%. The firm’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.50 earnings per share. On average, analysts expect that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Thursday, October 9th. This represents a $3.04 dividend on an annualized basis and a yield of 0.5%. Mastercard’s dividend payout ratio is 20.50%.

Insiders Place Their Bets

In related news, CFO J. Mehra Sachin sold 17,816 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $586.89, for a total transaction of $10,456,032.24. Following the transaction, the chief financial officer owned 31,234 shares in the company, valued at $18,330,922.26. This represents a 36.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is currently owned by company insiders.

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.