State of Michigan Retirement System Has $141.65 Million Stock Holdings in Mastercard Incorporated $MA

State of Michigan Retirement System trimmed its position in shares of Mastercard Incorporated (NYSE:MA) by 1.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 252,081 shares of the credit services provider’s stock after selling 3,700 shares during the quarter. Mastercard makes up 0.7% of State of Michigan Retirement System’s holdings, making the stock its 19th biggest holding. State of Michigan Retirement System’s holdings in Mastercard were worth $141,654,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in MA. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Mastercard during the second quarter valued at about $11,421,213,000. Nuveen LLC acquired a new stake in shares of Mastercard during the first quarter valued at about $4,238,764,000. Wellington Management Group LLP boosted its stake in shares of Mastercard by 38.6% during the first quarter. Wellington Management Group LLP now owns 13,526,118 shares of the credit services provider’s stock valued at $7,413,936,000 after purchasing an additional 3,765,378 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Mastercard by 3,493.6% in the second quarter. Assenagon Asset Management S.A. now owns 934,110 shares of the credit services provider’s stock worth $524,914,000 after acquiring an additional 908,116 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of 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 worth $11,015,557,000 after acquiring an additional 907,184 shares during the period. 97.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MA has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their price objective on Mastercard from $669.00 to $660.00 and set an “overweight” rating on the stock in a research note on Friday. Compass Point set a $620.00 price objective on Mastercard and gave the stock a “neutral” rating in a research note on Friday. Truist Financial set a $638.00 price objective on Mastercard in a research note on Friday, October 24th. Macquarie lifted their price objective on Mastercard from $655.00 to $660.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Wall Street Zen raised Mastercard from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Four analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Mastercard currently has an average rating of “Buy” and a consensus price target of $647.89.

Insider Transactions at Mastercard

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

Mastercard Price Performance

Shares of MA opened at $552.59 on Friday. Mastercard Incorporated has a 52-week low of $465.59 and a 52-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 business’s 50 day moving average price is $576.43 and its two-hundred day moving average price is $568.06. The firm has a market cap of $499.54 billion, a PE ratio of 37.26, a price-to-earnings-growth ratio of 2.27 and a beta of 0.97.

Mastercard (NYSE:MA) last issued its quarterly earnings results on Thursday, October 30th. The credit services provider reported $4.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.31 by $0.07. Mastercard had a return on equity of 200.01% and a net margin of 44.93%.The firm had revenue of $8.60 billion for the quarter, compared to analyst estimates of $8.53 billion. During the same period in the previous year, the firm earned $3.89 earnings per share. The company’s revenue was up 16.7% compared to the same quarter last year. On average, equities analysts anticipate that Mastercard Incorporated will post 15.91 EPS for the current year.

Mastercard Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Thursday, October 9th will be paid a $0.76 dividend. The ex-dividend date of this dividend is Thursday, October 9th. This represents a $3.04 annualized dividend and a yield of 0.6%. Mastercard’s payout ratio is 19.44%.

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.