Herndon Capital Management LLC reduced its position in MasterCard Inc. (NYSE:MA) by 38.1% during the second quarter, Holdings Channel reports. The fund owned 577,942 shares of the company’s stock after selling 355,309 shares during the period. MasterCard comprises 1.9% of Herndon Capital Management LLC’s holdings, making the stock its 28th largest position. Herndon Capital Management LLC’s holdings in MasterCard were worth $50,899,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of MA. Penobscot Investment Management Company Inc. boosted its stake in MasterCard by 4.2% in the second quarter. Penobscot Investment Management Company Inc. now owns 37,925 shares of the company’s stock worth $3,340,000 after buying an additional 1,520 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new stake in shares of MasterCard during the second quarter worth approximately $2,837,000. Concert Wealth Management Inc. boosted its stake in shares of MasterCard by 2.9% in the second quarter. Concert Wealth Management Inc. now owns 10,042 shares of the company’s stock worth $884,000 after buying an additional 283 shares in the last quarter. Quantitative Systematic Strategies LLC purchased a new stake in shares of MasterCard during the second quarter worth approximately $1,042,000. Finally, Harvey Investment Co. LLC boosted its stake in shares of MasterCard by 1.5% in the second quarter. Harvey Investment Co. LLC now owns 39,550 shares of the company’s stock worth $3,483,000 after buying an additional 600 shares in the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.
Shares of MasterCard Inc. (NYSE:MA) traded up 0.98% on Wednesday, hitting $102.73. The stock had a trading volume of 3,305,249 shares. The company’s 50 day moving average is $100.42 and its 200 day moving average is $96.19. MasterCard Inc. has a one year low of $78.52 and a one year high of $103.49. The stock has a market cap of $112.77 billion, a PE ratio of 30.13 and a beta of 1.19.
MasterCard (NYSE:MA) last announced its earnings results on Thursday, July 28th. The company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.06. MasterCard had a net margin of 37.39% and a return on equity of 66.32%. The business earned $2.70 billion during the quarter, compared to the consensus estimate of $2.59 billion. During the same quarter in the prior year, the firm earned $0.85 earnings per share. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. Equities research analysts predict that MasterCard Inc. will post $3.63 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 9th. Investors of record on Monday, October 10th will be given a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $0.76 dividend on an annualized basis and a yield of 0.74%. MasterCard’s payout ratio is currently 22.35%.
A number of brokerages have commented on MA. Vetr raised MasterCard from a “hold” rating to a “buy” rating and set a $111.32 price target for the company in a research report on Tuesday, October 11th. Zacks Investment Research raised MasterCard from a “hold” rating to a “buy” rating and set a $114.00 price target for the company in a research report on Wednesday, September 28th. Pacific Crest set a $110.00 price target on MasterCard and gave the stock a “buy” rating in a research report on Wednesday, September 14th. Bank of America Corp. set a $103.00 price target on MasterCard and gave the stock a “hold” rating in a research report on Thursday, September 8th. Finally, Argus reaffirmed a “hold” rating on shares of MasterCard in a research report on Thursday, September 8th. Six equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $109.90.
In related news, insider Ann Cairns sold 26,630 shares of the firm’s stock in a transaction dated Tuesday, October 4th. The shares were sold at an average price of $101.79, for a total value of $2,710,667.70. Following the completion of the sale, the insider now owns 58,721 shares in the company, valued at $5,977,210.59. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard Haythornthwaite sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, October 4th. The shares were sold at an average price of $101.78, for a total transaction of $508,900.00. Following the completion of the sale, the director now owns 52,423 shares of the company’s stock, valued at approximately $5,335,612.94. The disclosure for this sale can be found here. 3.14% of the stock is currently 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. The Company operates through payment solutions segment. The Company allows user to make payments by a range of payment solutions and services using various brands, which include MasterCard, Maestro and Cirrus.
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