Fisher Asset Management LLC lessened its holdings in shares of Mastercard Incorporated (NYSE:MA) by 5.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,663,875 shares of the credit services provider’s stock after selling 231,187 shares during the quarter. Mastercard makes up 1.1% of Fisher Asset Management LLC’s portfolio, making the stock its 21st biggest position. Fisher Asset Management LLC’s holdings in Mastercard were worth $1,239,013,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the stock. Carolina Wealth Advisors LLC purchased a new stake in Mastercard in the third quarter worth $30,000. Newfound Research LLC purchased a new stake in Mastercard in the third quarter worth $34,000. Larson Financial Group LLC grew its stake in Mastercard by 55.2% in the third quarter. Larson Financial Group LLC now owns 104 shares of the credit services provider’s stock worth $35,000 after purchasing an additional 37 shares during the period. Avion Wealth purchased a new stake in Mastercard in the third quarter worth $37,000. Finally, Evolution Wealth Advisors LLC grew its stake in Mastercard by 530.4% in the second quarter. Evolution Wealth Advisors LLC now owns 145 shares of the credit services provider’s stock worth $43,000 after purchasing an additional 122 shares during the period. Institutional investors own 73.72% of the company’s stock.
In related news, Director Richard Haythornthwaite sold 6,583 shares of the firm’s stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $328.87, for a total transaction of $2,164,951.21. Following the completion of the sale, the director now directly owns 27,432 shares of the company’s stock, valued at approximately $9,021,561.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Foundation Mastercard sold 60,210 shares of the firm’s stock in a transaction that occurred on Wednesday, November 11th. The stock was sold at an average price of $337.09, for a total value of $20,296,188.90. Insiders have sold a total of 550,868 shares of company stock valued at $175,693,281 in the last 90 days. 3.79% of the stock is currently owned by company insiders.
Mastercard (NYSE:MA) last released its quarterly earnings results on Wednesday, October 28th. The credit services provider reported $1.60 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.05). Mastercard had a net margin of 43.13% and a return on equity of 114.80%. As a group, research analysts predict that Mastercard Incorporated will post 6.33 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, November 9th. Shareholders of record on Friday, October 9th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Thursday, October 8th. Mastercard’s dividend payout ratio is presently 20.59%.
MA has been the topic of several recent research reports. Royal Bank of Canada reduced their price target on Mastercard from $350.00 to $372.00 in a research note on Thursday, October 29th. Raymond James increased their target price on Mastercard from $301.00 to $351.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. JPMorgan Chase & Co. cut their target price on Mastercard from $372.00 to $342.00 and set an “overweight” rating on the stock in a research note on Thursday, October 29th. Compass Point increased their target price on Mastercard from $330.00 to $370.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Finally, Barclays increased their target price on Mastercard from $360.00 to $385.00 and gave the stock an “overweight” rating in a research note on Monday, September 21st. Five research analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $348.18.
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.
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