Johnston Asset Management LLC cut its position in shares of MasterCard Inc. (NYSE:MA) by 0.5% during the second quarter, Holdings Channel reports. The institutional investor owned 307,270 shares of the company’s stock after selling 1,590 shares during the period. MasterCard accounts for approximately 1.4% of Johnston Asset Management LLC’s portfolio, making the stock its 21st largest position. Johnston Asset Management LLC’s holdings in MasterCard were worth $27,058,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of MA. RPg Family Wealth Advisory LLC acquired a new position in shares of MasterCard during the first quarter worth approximately $106,000. Seven Bridges Advisors LLC acquired a new position in shares of MasterCard during the second quarter worth approximately $109,000. First New York Securities LLC NY increased its position in shares of MasterCard by 2,450.0% in the second quarter. First New York Securities LLC NY now owns 1,530 shares of the company’s stock worth $135,000 after buying an additional 1,470 shares in the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new position in shares of MasterCard during the second quarter worth approximately $155,000. Finally, Hartford Financial Management Inc. increased its position in shares of MasterCard by 76.0% in the second quarter. Hartford Financial Management Inc. now owns 2,200 shares of the company’s stock worth $193,000 after buying an additional 950 shares in the last quarter. 75.12% of the stock is owned by hedge funds and other institutional investors.
Shares of MasterCard Inc. (NYSE:MA) traded up 0.53% during mid-day trading on Thursday, hitting $102.94. The company had a trading volume of 3,875,630 shares. The company has a market capitalization of $113.00 billion, a P/E ratio of 30.20 and a beta of 1.19. The firm’s 50-day moving average price is $98.93 and its 200 day moving average price is $95.63. MasterCard Inc. has a one year low of $78.52 and a one year high of $103.17.
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 Zacks’ consensus estimate of $0.90 by $0.06. The firm earned $2.70 billion during the quarter, compared to analyst estimates of $2.59 billion. MasterCard had a net margin of 37.39% and a return on equity of 66.32%. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.85 EPS. Analysts predict that MasterCard Inc. will post $3.63 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 9th. Investors of record on Monday, October 10th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend is Wednesday, October 5th. MasterCard’s payout ratio is presently 22.35%.
A number of research analysts recently commented on the company. William Blair reissued an “outperform” rating on shares of MasterCard in a report on Tuesday, July 19th. BMO Capital Markets restated an “outperform” rating and set a $128.00 price objective (up previously from $120.00) on shares of MasterCard in a research note on Friday, July 29th. Sanford C. Bernstein restated an “outperform” rating and set a $110.00 price objective on shares of MasterCard in a research note on Saturday, July 2nd. Goldman Sachs Group Inc. restated a “buy” rating and set a $118.00 price objective on shares of MasterCard in a research note on Monday, July 18th. Finally, Vetr upgraded MasterCard from a “hold” rating to a “buy” rating and set a $98.52 price objective on the stock in a research note on Monday, June 13th. Seven investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $109.71.
In other MasterCard news, major shareholder Foundation Mastercard sold 84,000 shares of the business’s stock in a transaction dated Monday, July 18th. The shares were sold at an average price of $91.17, for a total transaction of $7,658,280.00. Following the sale, the insider now directly owns 115,148,971 shares of the company’s stock, valued at approximately $10,498,131,686.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Robert Reeg sold 6,000 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $94.79, for a total transaction of $568,740.00. Following the sale, the insider now directly owns 53,501 shares in the company, valued at $5,071,359.79. The disclosure for this sale can be found here. 3.14% of the stock is currently owned by corporate insiders.
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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