iA Global Asset Management Inc. cut its holdings in Mastercard Incorporated (NYSE:MA – Free Report) by 4.2% during the 1st quarter, Holdings Channel reports. The firm owned 231,308 shares of the credit services provider’s stock after selling 10,111 shares during the period. Mastercard comprises approximately 1.6% of iA Global Asset Management Inc.’s investment portfolio, making the stock its 9th biggest holding. iA Global Asset Management Inc.’s holdings in Mastercard were worth $115,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of MA. Brighton Jones LLC grew its holdings in Mastercard by 42.3% during the 4th quarter. Brighton Jones LLC now owns 6,824 shares of the credit services provider’s stock valued at $3,594,000 after buying an additional 2,028 shares during the last quarter. Schnieders Capital Management LLC. raised its holdings in shares of Mastercard by 8.5% in the second quarter. Schnieders Capital Management LLC. now owns 2,548 shares of the credit services provider’s stock worth $1,432,000 after acquiring an additional 200 shares during the last quarter. Betterment LLC raised its holdings in shares of Mastercard by 6.5% in the second quarter. Betterment LLC now owns 947 shares of the credit services provider’s stock worth $532,000 after acquiring an additional 58 shares during the last quarter. Worldquant Millennium Advisors LLC lifted its position in shares of Mastercard by 35.8% in the second quarter. Worldquant Millennium Advisors LLC now owns 677,204 shares of the credit services provider’s stock valued at $380,548,000 after acquiring an additional 178,387 shares in the last quarter. Finally, Darwin Wealth Management LLC purchased a new stake in shares of Mastercard in the second quarter valued at $431,000. 97.28% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts recently commented on the company. BMO Capital Markets initiated coverage on Mastercard in a research report on Tuesday, April 21st. They set an “outperform” rating and a $605.00 price objective for the company. Citigroup reduced their target price on shares of Mastercard from $735.00 to $675.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Tigress Financial raised their price target on shares of Mastercard from $730.00 to $735.00 and gave the stock a “strong-buy” rating in a research note on Friday, March 13th. Bank of America initiated coverage on shares of Mastercard in a research note on Thursday, March 5th. They set a “buy” rating and a $700.00 price target on the stock. Finally, Wall Street Zen downgraded shares of Mastercard from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Mastercard has an average rating of “Buy” and an average target price of $653.81.
Mastercard Price Performance
MA stock opened at $513.24 on Wednesday. The stock has a market capitalization of $453.48 billion, a price-to-earnings ratio of 29.70, a price-to-earnings-growth ratio of 1.59 and a beta of 0.74. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 2.56. Mastercard Incorporated has a 52-week low of $464.52 and a 52-week high of $601.77. The stock’s fifty day simple moving average is $496.66 and its 200-day simple moving average is $519.34.
Mastercard (NYSE:MA – Get Free Report) last released its earnings results on Thursday, April 30th. The credit services provider reported $4.60 EPS for the quarter, beating the consensus estimate of $4.41 by $0.19. Mastercard had a return on equity of 212.96% and a net margin of 45.88%.The firm had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.26 billion. During the same period in the prior year, the firm posted $3.73 earnings per share. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. Equities research analysts expect that Mastercard Incorporated will post 19.6 EPS for the current year.
Mastercard Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Thursday, July 9th will be issued a $0.87 dividend. The ex-dividend date is Thursday, July 9th. This represents a $3.48 annualized dividend and a yield of 0.7%. Mastercard’s payout ratio is 20.14%.
Key Stories Impacting Mastercard
Here are the key news stories impacting Mastercard this week:
- Positive Sentiment: Mastercard launched an Africa Cybersecurity Centre of Excellence in South Africa, a move that could deepen relationships with governments and financial institutions while reinforcing its role in digital security. Mastercard launches Africa Cybersecurity Centre of Excellence
- Positive Sentiment: The company is working with quantum computing firm OQC to explore better fraud detection, which could help Mastercard combat the large and growing fraud problem in payments. Mastercard (MA) Stock Rises as It Taps Quantum Tech to Fight $343 Billion Fraud Problem
- Positive Sentiment: An analyst began coverage on Mastercard with a bullish view, adding to sentiment support for the stock. This Mastercard Analyst Begins Coverage On A Bullish Note; Here Are Top 5 Initiations For Tuesday
- Neutral Sentiment: Mastercard highlighted that 87% of Moroccan SMEs remain confident about their business outlook, which is supportive of regional economic activity but is not a direct financial catalyst. Mastercard: 87% of Moroccan SMEs Confident About Business Outlook
- Negative Sentiment: Reports that a Visa-Mastercard settlement could affect rewards credit cards may pressure investor sentiment if it raises concerns about future card economics or rewards-related revenue. Visa, Mastercard settlement might impact rewards credit cards
Mastercard Profile
Mastercard Incorporated is a global payments technology company that operates a network connecting consumers, financial institutions, merchants, governments and businesses in more than 200 countries and territories. The company facilitates electronic payments and transaction processing for credit, debit and prepaid card products carrying the Mastercard brand, while also providing a range of payment-related services to issuers, acquirers and merchants. Its technology and network enable authorization, clearing and settlement of payments and support a broad set of use cases including point-of-sale, e-commerce and mobile payments.
Beyond core transaction processing, Mastercard offers a suite of value-added services such as fraud and risk management, identity and authentication tools, tokenization and digital wallet support, cross-border and commercial payment solutions, and data analytics and consulting services for merchants and financial partners.
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