Suncoast Equity Management Trims Stock Holdings in Mastercard Incorporated $MA

Suncoast Equity Management trimmed its holdings in Mastercard Incorporated (NYSE:MA) by 0.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 64,645 shares of the credit services provider’s stock after selling 372 shares during the quarter. Mastercard makes up about 3.7% of Suncoast Equity Management’s portfolio, making the stock its 11th biggest position. Suncoast Equity Management’s holdings in Mastercard were worth $36,327,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of MA. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Mastercard in the second quarter worth approximately $11,421,213,000. Nuveen LLC purchased a new stake in shares of Mastercard in the first quarter worth approximately $4,238,764,000. Wellington Management Group LLP raised its holdings in shares of Mastercard by 38.6% in the first quarter. Wellington Management Group LLP now owns 13,526,118 shares of the credit services provider’s stock worth $7,413,936,000 after buying an additional 3,765,378 shares during the period. Assenagon Asset Management S.A. increased its holdings in Mastercard by 3,493.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 934,110 shares of the credit services provider’s stock worth $524,914,000 after purchasing an additional 908,116 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in Mastercard by 4.7% during the 1st 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 purchasing an additional 907,184 shares during the period. 97.28% of the stock is currently owned by hedge funds and other institutional investors.

Mastercard Stock Up 0.1%

Shares of NYSE MA opened at $553.55 on Thursday. 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 stock has a market capitalization of $500.42 billion, a PE ratio of 37.33, a price-to-earnings-growth ratio of 2.27 and a beta of 0.97. The stock’s fifty day simple moving average is $573.88 and its two-hundred day simple moving average is $568.77. Mastercard Incorporated has a 12-month low of $465.59 and a 12-month high of $601.77.

Mastercard (NYSE:MA) last announced its 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. The business had revenue of $8.60 billion for the quarter, compared to analysts’ expectations of $8.53 billion. Mastercard had a return on equity of 200.01% and a net margin of 44.93%.The business’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter last year, the firm earned $3.89 EPS. As a group, analysts expect that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Mastercard Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Thursday, October 9th will be given a $0.76 dividend. The ex-dividend date of this dividend is Thursday, October 9th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.5%. Mastercard’s dividend payout ratio (DPR) is presently 19.44%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on MA shares. TD Cowen restated a “buy” rating and set a $645.00 price objective on shares of Mastercard in a report on Monday, August 11th. Deutsche Bank Aktiengesellschaft started coverage on Mastercard in a report on Thursday, July 17th. They set a “buy” rating and a $650.00 price objective on the stock. Compass Point set a $620.00 price objective on Mastercard and gave the stock a “neutral” rating in a report on Friday, October 31st. Morgan Stanley set a $665.00 price objective on Mastercard and gave the stock an “overweight” rating in a report on Friday, October 31st. Finally, Wall Street Zen upgraded Mastercard from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $647.59.

Insider Buying and Selling at Mastercard

In other news, CFO J. Mehra Sachin sold 17,263 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $591.00, for a total value of $10,202,433.00. Following the completion of the sale, the chief financial officer owned 31,234 shares of the company’s stock, valued at $18,459,294. This trade represents a 35.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is owned by 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.