State of Wisconsin Investment Board raised its position in shares of Mastercard Incorporated (NYSE:MA) by 16.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,084,516 shares of the credit services provider’s stock after acquiring an additional 153,868 shares during the quarter. State of Wisconsin Investment Board owned about 0.10% of Mastercard worth $131,714,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. American Beacon Advisors Inc. acquired a new position in shares of Mastercard during the first quarter valued at about $100,000. Proficio Capital Partners LLC raised its holdings in shares of Mastercard by 108.2% during the first quarter. Proficio Capital Partners LLC now owns 893 shares of the credit services provider’s stock valued at $108,000 after purchasing an additional 464 shares during the period. Lipe & Dalton acquired a new position in shares of Mastercard during the first quarter valued at about $101,000. Chicago Partners Investment Group LLC raised its holdings in shares of Mastercard by 1,365.6% during the second quarter. Chicago Partners Investment Group LLC now owns 938 shares of the credit services provider’s stock valued at $105,000 after purchasing an additional 874 shares during the period. Finally, Norway Savings Bank raised its holdings in shares of Mastercard by 1.1% during the second quarter. Norway Savings Bank now owns 960 shares of the credit services provider’s stock valued at $117,000 after purchasing an additional 10 shares during the period. 76.05% of the stock is currently owned by institutional investors and hedge funds.
In other news, major shareholder Foundation Mastercard sold 87,618 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $127.98, for a total transaction of $11,213,351.64. Following the completion of the transaction, the insider now directly owns 112,649,063 shares of the company’s stock, valued at $14,416,827,082.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard Haythornthwaite sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $142.51, for a total transaction of $712,550.00. Following the transaction, the director now directly owns 45,278 shares of the company’s stock, valued at $6,452,567.78. The disclosure for this sale can be found here. Insiders have sold 869,668 shares of company stock valued at $112,301,656 over the last three months. 0.30% of the stock is owned by corporate insiders.
Mastercard (NYSE:MA) last released its quarterly earnings data on Thursday, July 27th. The credit services provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.06. Mastercard had a net margin of 38.30% and a return on equity of 74.92%. The firm had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $2.98 billion. During the same period in the previous year, the company earned $0.96 earnings per share. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. Analysts predict that Mastercard Incorporated will post $4.44 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Stockholders of record on Friday, October 6th will be issued a dividend of $0.22 per share. The ex-dividend date is Thursday, October 5th. This represents a $0.88 annualized dividend and a dividend yield of 0.60%. Mastercard’s payout ratio is 21.78%.
Several brokerages have recently weighed in on MA. BidaskClub upgraded shares of Mastercard from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Guggenheim upgraded shares of Mastercard from a “neutral” rating to a “buy” rating and upped their price objective for the company from $135.00 to $153.00 in a report on Monday, September 11th. Citigroup Inc. upped their price objective on shares of Mastercard from $123.00 to $140.00 and gave the company a “buy” rating in a report on Monday, June 19th. BMO Capital Markets upped their price objective on shares of Mastercard from $126.00 to $137.00 and gave the company an “outperform” rating in a report on Friday, July 28th. Finally, Barclays PLC upped their price objective on shares of Mastercard from $142.00 to $148.00 and gave the company an “overweight” rating in a report on Friday, September 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $143.08.
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MasterCard Incorporated is a technology company that connects consumers, financial institutions, merchants, governments and businesses across the world, enabling them to use electronic forms of payment. The Company operates through Payment Solutions segment. The Company allows user to make payments by creating a range of payment solutions and services using its brands, which include MasterCard, Maestro and Cirrus.
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