DAVENPORT & Co LLC Trims Stake in Mastercard Incorporated (NYSE:MA)

DAVENPORT & Co LLC lowered its stake in Mastercard Incorporated (NYSE:MA) by 1.2% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 305,373 shares of the credit services provider’s stock after selling 3,603 shares during the quarter. Mastercard makes up about 1.2% of DAVENPORT & Co LLC’s holdings, making the stock its 25th biggest position. DAVENPORT & Co LLC’s holdings in Mastercard were worth $103,268,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its stake in Mastercard by 6.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,617,293 shares of the credit services provider’s stock valued at $4,026,634,000 after buying an additional 767,923 shares in the last quarter. Akre Capital Management LLC increased its holdings in Mastercard by 1.7% in the 2nd quarter. Akre Capital Management LLC now owns 5,883,862 shares of the credit services provider’s stock valued at $1,739,858,000 after purchasing an additional 97,575 shares in the last quarter. Bank of America Corp DE increased its holdings in Mastercard by 0.5% in the 2nd quarter. Bank of America Corp DE now owns 5,278,002 shares of the credit services provider’s stock valued at $1,560,705,000 after purchasing an additional 25,546 shares in the last quarter. Invesco Ltd. increased its holdings in Mastercard by 1.1% in the 1st quarter. Invesco Ltd. now owns 4,809,388 shares of the credit services provider’s stock valued at $1,161,756,000 after purchasing an additional 53,332 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in Mastercard by 146.6% in the 2nd quarter. Nordea Investment Management AB now owns 4,398,140 shares of the credit services provider’s stock valued at $1,287,820,000 after purchasing an additional 2,614,737 shares in the last quarter. 73.72% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Mastercard stock traded up $0.83 during trading on Friday, hitting $339.40. 3,326,354 shares of the company’s stock traded hands, compared to its average volume of 4,906,209. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.95 and a quick ratio of 1.95. The firm’s fifty day moving average price is $341.23 and its 200 day moving average price is $305.61. Mastercard Incorporated has a twelve month low of $199.99 and a twelve month high of $367.25. The company has a market cap of $339.76 billion, a PE ratio of 46.94, a PEG ratio of 2.94 and a beta of 1.11.

Mastercard (NYSE:MA) last issued its earnings results on Thursday, July 30th. The credit services provider reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.21. Mastercard had a net margin of 45.12% and a return on equity of 129.52%. The business had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same period in the previous year, the business earned $1.89 EPS. The firm’s revenue was down 19.8% on a year-over-year basis. As a group, equities research analysts anticipate that Mastercard Incorporated will post 6.62 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Friday, October 9th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.47%. The ex-dividend date is Thursday, October 8th. Mastercard’s payout ratio is presently 20.59%.

In other news, major shareholder Foundation Mastercard sold 68,670 shares of the stock in a transaction on Monday, July 20th. The shares were sold at an average price of $308.54, for a total transaction of $21,187,441.80. Following the completion of the sale, the insider now owns 109,933,814 shares of the company’s stock, valued at $33,918,978,971.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard Haythornthwaite sold 5,000 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $307.29, for a total transaction of $1,536,450.00. Following the sale, the director now directly owns 32,573 shares of the company’s stock, valued at approximately $10,009,357.17. The disclosure for this sale can be found here. Insiders sold 263,465 shares of company stock valued at $83,297,010 in the last ninety days. Insiders own 3.79% of the company’s stock.

Several analysts have recently weighed in on the company. Oppenheimer assumed coverage on Mastercard in a research note on Friday, July 31st. They set a “hold” rating for the company. Bank of America raised their target price on shares of Mastercard from $324.00 to $358.00 and gave the stock a “neutral” rating in a report on Thursday, August 27th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Mastercard from $320.00 to $383.00 and gave the stock a “buy” rating in a report on Tuesday, September 15th. Keefe, Bruyette & Woods raised their price target on shares of Mastercard from $371.00 to $380.00 and gave the company an “outperform” rating in a research note on Wednesday, September 9th. Finally, Royal Bank of Canada restated a “buy” rating on shares of Mastercard in a research note on Sunday, October 11th. Five investment analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $347.81.

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 is an ETF different from a mutual fund?

Want to see what other hedge funds are holding MA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mastercard Incorporated (NYSE:MA).

Institutional Ownership by Quarter for Mastercard (NYSE:MA)

Receive News & Ratings for Mastercard Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mastercard and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit