State Board of Administration of Florida Retirement System Sells 35,354 Shares of Mastercard Inc (NYSE:MA)

State Board of Administration of Florida Retirement System lessened its holdings in Mastercard Inc (NYSE:MA) by 2.8% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,225,378 shares of the credit services provider’s stock after selling 35,354 shares during the quarter. Mastercard makes up 0.8% of State Board of Administration of Florida Retirement System’s holdings, making the stock its 18th largest holding. State Board of Administration of Florida Retirement System owned about 0.12% of Mastercard worth $324,149,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Joseph P. Lucia & Associates LLC bought a new stake in Mastercard during the second quarter valued at about $26,000. Ellis Investment Partners LLC bought a new stake in Mastercard during the first quarter valued at about $30,000. Evolution Wealth Advisors LLC bought a new stake in Mastercard during the second quarter valued at about $31,000. Delphi Private Advisors LLC bought a new stake in Mastercard during the second quarter valued at about $31,000. Finally, Field & Main Bank bought a new stake in Mastercard during the first quarter valued at about $38,000. 74.90% of the stock is currently owned by institutional investors.

In other news, Vice Chairman Ann Cairns sold 51,850 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $259.80, for a total value of $13,470,630.00. Following the completion of the transaction, the insider now directly owns 134,120 shares in the company, valued at $34,844,376. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director David R. Carlucci sold 3,974 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $262.51, for a total value of $1,043,214.74. Following the completion of the transaction, the director now owns 54,438 shares of the company’s stock, valued at $14,290,519.38. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 201,511 shares of company stock valued at $54,471,508. Company insiders own 3.70% of the company’s stock.

A number of equities research analysts recently weighed in on the company. Deutsche Bank raised their price objective on Mastercard from $267.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Bank of America raised their price objective on Mastercard from $255.00 to $267.00 and gave the company a “neutral” rating in a research report on Monday, June 17th. Wedbush raised their price objective on Mastercard from $261.00 to $287.00 and gave the company an “outperform” rating in a research report on Thursday, June 13th. Raymond James raised their price objective on Mastercard from $300.00 to $308.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, Morgan Stanley increased their price target on Mastercard from $269.00 to $291.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. 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. The stock currently has a consensus rating of “Buy” and a consensus price target of $291.80.

Mastercard stock traded up $0.87 during midday trading on Tuesday, reaching $278.94. The company’s stock had a trading volume of 760,726 shares, compared to its average volume of 3,792,061. The stock’s 50-day simple moving average is $274.53 and its 200-day simple moving average is $248.69. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.49 and a quick ratio of 1.49. Mastercard Inc has a 52-week low of $171.89 and a 52-week high of $283.33. The stock has a market capitalization of $278.35 billion, a P/E ratio of 42.98, a PEG ratio of 2.17 and a beta of 1.08.

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

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Tuesday, July 9th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend was Monday, July 8th. Mastercard’s payout ratio is 20.34%.

About Mastercard

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: What is the Quick Ratio?

Institutional Ownership by Quarter for Mastercard (NYSE:MA)

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