Mastercard Incorporated $MA Position Lowered by Logan Capital Management Inc.

Logan Capital Management Inc. reduced its position in Mastercard Incorporated (NYSE:MA) by 11.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,184 shares of the credit services provider’s stock after selling 10,849 shares during the period. Mastercard makes up approximately 2.3% of Logan Capital Management Inc.’s holdings, making the stock its 9th largest holding. Logan Capital Management Inc.’s holdings in Mastercard were worth $48,430,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Kingstone Capital Partners Texas LLC acquired a new position in Mastercard during the second quarter valued at approximately $11,421,213,000. Nuveen LLC acquired a new position in shares of Mastercard during the 1st quarter valued at $4,238,764,000. Wellington Management Group LLP boosted its position in Mastercard by 38.6% during the 1st quarter. Wellington Management Group LLP now owns 13,526,118 shares of the credit services provider’s stock worth $7,413,936,000 after purchasing an additional 3,765,378 shares during the period. Assenagon Asset Management S.A. increased its holdings in Mastercard by 3,493.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 934,110 shares of the credit services provider’s stock valued at $524,914,000 after purchasing an additional 908,116 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Mastercard by 4.7% in the 1st 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 purchasing an additional 907,184 shares in the last quarter. Institutional investors and hedge funds own 97.28% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on MA. The Goldman Sachs Group restated a “buy” rating on shares of Mastercard in a research note on Friday, August 1st. Seaport Res Ptn upgraded Mastercard from a “hold” rating to a “strong-buy” rating in a report on Monday, July 14th. Wells Fargo & Company upgraded Mastercard to a “strong-buy” rating in a report on Wednesday, October 22nd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Mastercard in a research report on Thursday, July 17th. They issued a “buy” rating and a $650.00 price objective for the company. Finally, Robert W. Baird lifted their price objective on shares of Mastercard from $640.00 to $660.00 and gave the company an “outperform” rating in a research note on Monday, October 6th. Five research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $638.96.

Mastercard Stock Down 0.4%

MA stock opened at $571.51 on Tuesday. Mastercard Incorporated has a twelve month low of $465.59 and a twelve month high of $601.77. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 2.41. The company has a market capitalization of $516.65 billion, a P/E ratio of 38.54, a PEG ratio of 2.35 and a beta of 0.97. The firm has a 50 day simple moving average of $579.25 and a 200-day simple moving average of $566.75.

Mastercard (NYSE:MA) last posted its quarterly earnings results 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 firm had revenue of $8.13 billion for the quarter, compared to analysts’ expectations of $7.95 billion. Mastercard had a net margin of 44.93% and a return on equity of 200.01%. The firm’s quarterly revenue was up 16.8% on a year-over-year basis. During the same period in the prior year, the company posted $3.50 earnings per share. On average, equities research analysts predict that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

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

Insiders Place Their Bets

In other Mastercard news, CFO J. Mehra Sachin sold 17,263 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $591.00, for a total transaction of $10,202,433.00. Following the sale, the chief financial officer owned 31,234 shares in the company, valued at $18,459,294. This represents a 35.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.09% of the stock is currently owned by corporate insiders.

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.