Bridgewater Wealth & Financial Management LLC lifted its stake in shares of Mastercard Incorporated (NYSE:MA) by 10.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,859 shares of the credit services provider’s stock after acquiring an additional 4,613 shares during the quarter. Mastercard makes up 2.0% of Bridgewater Wealth & Financial Management LLC’s holdings, making the stock its 19th biggest holding. Bridgewater Wealth & Financial Management LLC’s holdings in Mastercard were worth $5,934,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently modified their holdings of MA. Waldron LP bought a new position in shares of Mastercard during the first quarter worth about $823,000. Wealth Architects LLC bought a new position in shares of Mastercard during the first quarter worth about $209,000. Bridgecreek Investment Management LLC raised its position in shares of Mastercard by 1.6% during the first quarter. Bridgecreek Investment Management LLC now owns 48,330 shares of the credit services provider’s stock worth $5,436,000 after acquiring an additional 745 shares during the last quarter. Eagle Ridge Investment Management raised its position in shares of Mastercard by 3.3% during the first quarter. Eagle Ridge Investment Management now owns 90,556 shares of the credit services provider’s stock worth $10,185,000 after acquiring an additional 2,866 shares during the last quarter. Finally, Rhumbline Advisers raised its position in shares of Mastercard by 0.7% during the first quarter. Rhumbline Advisers now owns 1,618,300 shares of the credit services provider’s stock worth $182,010,000 after acquiring an additional 11,277 shares during the last quarter. Institutional investors own 76.05% of the company’s stock.
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Mastercard (NYSE:MA) last posted its quarterly earnings data on Thursday, July 27th. The credit services provider reported $1.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.06. Mastercard had a return on equity of 74.92% and a net margin of 38.30%. The company had revenue of $3.05 billion during the quarter, compared to analyst estimates of $2.98 billion. During the same quarter last year, the company earned $0.96 EPS. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Friday, October 6th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend is Thursday, October 5th. Mastercard’s dividend payout ratio (DPR) is presently 21.78%.
MA has been the subject of a number of analyst reports. Jefferies Group LLC restated a “buy” rating and set a $147.00 price objective (up from $140.00) on shares of Mastercard in a research report on Tuesday, July 18th. Citigroup Inc. lifted their target price on Mastercard from $123.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, June 19th. Zacks Investment Research upgraded Mastercard from a “hold” rating to a “buy” rating and set a $136.00 target price for the company in a report on Wednesday, July 5th. BidaskClub upgraded Mastercard from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $150.00 target price (up from $124.00) on shares of Mastercard in a report on Monday, July 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-six have given a buy rating to the stock. Mastercard presently has an average rating of “Buy” and an average target price of $144.18.
In other Mastercard news, major shareholder Foundation Mastercard sold 87,618 shares of Mastercard stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $127.98, for a total value of $11,213,351.64. Following the completion of the sale, the insider now owns 112,649,063 shares of the company’s stock, valued at approximately $14,416,827,082.74. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Craig Vosburg sold 14,200 shares of Mastercard stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $141.86, for a total value of $2,014,412.00. Following the completion of the sale, the insider now directly owns 40,646 shares of the company’s stock, valued at approximately $5,766,041.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 869,668 shares of company stock valued at $112,301,656. 0.30% of the stock is owned by corporate insiders.
Mastercard Company Profile
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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