Synovus Financial Corp lifted its position in shares of Mastercard Incorporated (NYSE:MA) by 36.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,497 shares of the credit services provider’s stock after buying an additional 1,743 shares during the quarter. Synovus Financial Corp’s holdings in Mastercard were worth $788,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. American Beacon Advisors Inc. acquired a new stake in shares of Mastercard during the first quarter worth $100,000. Proficio Capital Partners LLC increased its position 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 worth $108,000 after buying an additional 464 shares during the period. Lipe & Dalton acquired a new stake in shares of Mastercard during the first quarter worth $101,000. Chicago Partners Investment Group LLC increased its position 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 worth $105,000 after buying an additional 874 shares during the period. Finally, Norway Savings Bank increased its position 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 worth $117,000 after buying an additional 10 shares during the period. Institutional investors own 76.09% of the company’s stock.
Mastercard (NYSE:MA) last posted its earnings results on Tuesday, October 31st. The credit services provider reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. The firm had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.28 billion. Mastercard had a return on equity of 78.38% and a net margin of 38.70%. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.08 EPS.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Stockholders of record on Friday, October 6th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.59%. Mastercard’s dividend payout ratio is currently 20.47%.
Several research analysts recently issued reports on MA shares. Zacks Investment Research raised shares of Mastercard from a “hold” rating to a “buy” rating and set a $136.00 target price on the stock in a research note on Wednesday, July 5th. Jefferies Group LLC reissued a “buy” rating and set a $147.00 target price (up from $140.00) on shares of Mastercard in a research note on Tuesday, July 18th. BidaskClub raised shares of Mastercard from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Deutsche Bank AG reissued a “buy” rating and set a $150.00 target price (up from $124.00) on shares of Mastercard in a research note on Monday, July 10th. Finally, Credit Suisse Group reissued a “buy” rating and set a $125.00 target price on shares of Mastercard in a research note on Friday, July 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-eight have assigned a buy rating to the company’s stock. Mastercard currently has an average rating of “Buy” and an average price target of $156.34.
In related news, Director Richard Haythornthwaite sold 5,000 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $142.51, for a total value of $712,550.00. Following the completion of the sale, the director now directly owns 45,278 shares in the company, valued at $6,452,567.78. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Michael Fraccaro sold 5,800 shares of the firm’s stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $147.59, for a total value of $856,022.00. The disclosure for this sale can be found here. Insiders have sold a total of 171,035 shares of company stock valued at $22,502,109 over the last quarter. Corporate insiders own 0.30% of the company’s stock.
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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