Mastercard Inc (NYSE:MA) Position Lowered by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI decreased its stake in shares of Mastercard Inc (NYSE:MA) by 7.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 22,160 shares of the credit services provider’s stock after selling 1,831 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Mastercard were worth $5,862,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of MA. FMR LLC increased its stake in shares of Mastercard by 1.8% in the first quarter. FMR LLC now owns 40,441,076 shares of the credit services provider’s stock valued at $9,521,850,000 after purchasing an additional 720,407 shares during the period. Geode Capital Management LLC increased its stake in shares of Mastercard by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 12,431,997 shares of the credit services provider’s stock valued at $2,341,383,000 after acquiring an additional 416,095 shares during the period. Norges Bank acquired a new position in shares of Mastercard during the fourth quarter valued at approximately $1,701,899,000. Parnassus Investments CA increased its stake in shares of Mastercard by 1.6% during the first quarter. Parnassus Investments CA now owns 3,185,400 shares of the credit services provider’s stock valued at $750,002,000 after acquiring an additional 51,389 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Mastercard by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,964,021 shares of the credit services provider’s stock valued at $559,150,000 after acquiring an additional 42,640 shares during the period. 74.25% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts recently commented on the stock. Wells Fargo & Co raised their price objective on shares of Mastercard from $285.00 to $305.00 and gave the company an “outperform” rating in a research note on Wednesday, July 10th. Bank of America raised their price objective on shares of Mastercard from $255.00 to $267.00 and gave the company a “neutral” rating in a research note on Monday, June 17th. Zacks Investment Research upgraded shares of Mastercard from a “hold” rating to a “buy” rating and set a $275.00 price objective on the stock in a research note on Wednesday, May 15th. Oppenheimer lifted their price target on shares of Mastercard from $242.00 to $259.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 17th. Finally, Barclays lifted their price target on shares of Mastercard from $310.00 to $319.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Two equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. Mastercard has an average rating of “Buy” and a consensus price target of $291.80.

In other Mastercard news, insider Michael Miebach sold 2,233 shares of Mastercard stock in a transaction on Monday, July 29th. The shares were sold at an average price of $283.12, for a total transaction of $632,206.96. Following the completion of the sale, the insider now owns 15,548 shares of the company’s stock, valued at approximately $4,401,949.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Ann Cairns sold 51,850 shares of Mastercard stock in a transaction on Monday, June 17th. The shares were sold at an average price of $259.80, for a total transaction of $13,470,630.00. Following the sale, the insider now directly owns 134,120 shares of the company’s stock, valued at approximately $34,844,376. The disclosure for this sale can be found here. Insiders sold a total of 201,511 shares of company stock valued at $54,471,508 in the last ninety days. Company insiders own 3.70% of the company’s stock.

Mastercard stock traded up $3.64 during midday trading on Thursday, reaching $270.79. The stock had a trading volume of 2,126,883 shares, compared to its average volume of 3,683,371. The firm has a fifty day moving average of $273.39. Mastercard Inc has a twelve month low of $171.89 and a twelve month high of $283.33. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.49 and a current ratio of 1.49. The firm has a market cap of $273.92 billion, a price-to-earnings ratio of 41.72, a price-to-earnings-growth ratio of 2.14 and a beta of 1.08.

Mastercard (NYSE:MA) last posted its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.07. Mastercard had a net margin of 42.71% and a return on equity of 135.02%. The firm had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same quarter last year, the business posted $1.66 EPS. The company’s revenue was up 12.2% on a year-over-year basis. As a group, research analysts predict that Mastercard Inc will post 7.61 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Tuesday, July 9th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Monday, July 8th. Mastercard’s dividend payout ratio is 20.34%.

Mastercard Company Profile

Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers related products and services.

Further Reading: How are institutional investors different from individual investors?

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Institutional Ownership by Quarter for Mastercard (NYSE:MA)

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