Condor Capital Management Lowers Stake in Mastercard Incorporated $MA

Condor Capital Management cut its position in Mastercard Incorporated (NYSE:MA) by 2.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,864 shares of the credit services provider’s stock after selling 399 shares during the period. Condor Capital Management’s holdings in Mastercard were worth $8,353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Kingstone Capital Partners Texas LLC purchased a new stake in Mastercard in the 2nd quarter worth $11,421,213,000. Nuveen LLC purchased a new position in shares of Mastercard in the first quarter valued at about $4,238,764,000. Wellington Management Group LLP boosted its stake 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 acquiring an additional 3,765,378 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Mastercard by 25.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 6,372,404 shares of the credit services provider’s stock worth $3,580,909,000 after purchasing an additional 1,299,977 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake 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 valued at $524,914,000 after purchasing an additional 908,116 shares during the period. 97.28% of the stock is currently owned by institutional investors.

Mastercard Price Performance

MA stock opened at $545.31 on Friday. Mastercard Incorporated has a 52 week low of $465.59 and a 52 week high of $601.77. The firm has a market capitalization of $489.68 billion, a P/E ratio of 36.77, a price-to-earnings-growth ratio of 2.27 and a beta of 0.92. The company has a fifty day simple moving average of $568.49 and a two-hundred day simple moving average of $569.72. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 2.41.

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

Mastercard Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 7th. Shareholders of record on Thursday, October 9th were given a dividend of $0.76 per share. The ex-dividend date was Thursday, October 9th. This represents a $3.04 dividend on an annualized basis and a yield of 0.6%. Mastercard’s dividend payout ratio is 19.44%.

Insider Activity

In other news, CFO J. Mehra Sachin sold 17,263 shares of Mastercard stock in a transaction that occurred 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 transaction, the chief financial officer owned 31,234 shares in the company, valued at approximately $18,459,294. The trade was a 35.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have weighed in on MA shares. Weiss Ratings restated a “buy (b)” rating on shares of Mastercard in a research note on Wednesday, October 8th. TD Cowen reissued a “buy” rating and issued a $645.00 target price on shares of Mastercard in a report on Monday, August 11th. Wells Fargo & Company dropped their target price on shares of Mastercard from $669.00 to $660.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Robert W. Baird lifted their price target on shares of Mastercard from $640.00 to $660.00 and gave the company an “outperform” rating in a report on Monday, October 6th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $713.00 price target on shares of Mastercard in a research note on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $652.50.

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.