Veritas Investment Partners UK Ltd. trimmed its position in Mastercard Incorporated (NYSE:MA – Get Rating) by 14.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 587,373 shares of the credit services provider's stock after selling 98,680 shares during the period. Mastercard comprises about 5.7% of Veritas Investment Partners UK Ltd.'s portfolio, making the stock its 6th largest holding. Veritas Investment Partners UK Ltd. owned approximately 0.06% of Mastercard worth $167,309,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of MA. Bornite Capital Management LP acquired a new stake in shares of Mastercard during the 1st quarter worth $21,442,000. United Bank increased its holdings in shares of Mastercard by 34.5% in the first quarter. United Bank now owns 6,007 shares of the credit services provider's stock valued at $2,147,000 after buying an additional 1,541 shares in the last quarter. Mackenzie Financial Corp boosted its position in Mastercard by 30.1% during the 1st quarter. Mackenzie Financial Corp now owns 272,358 shares of the credit services provider's stock worth $97,335,000 after acquiring an additional 63,040 shares during the period. First Western Trust Bank acquired a new position in shares of Mastercard during the 1st quarter worth $1,168,000. Finally, Bridgewater Associates LP bought a new position in Mastercard during the first quarter worth $12,926,000. Hedge funds and other institutional investors own 74.51% of the company's stock.
Get Mastercard alerts:
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the stock. BMO Capital Markets dropped their price target on shares of Mastercard from $427.00 to $414.00 and set an "outperform" rating for the company in a research note on Friday, January 27th. Citigroup cut their target price on Mastercard from $415.00 to $400.00 in a report on Friday, October 28th. Credit Suisse Group increased their target price on Mastercard from $370.00 to $390.00 and gave the stock an "outperform" rating in a research report on Friday, October 28th. UBS Group reduced their target price on Mastercard from $456.00 to $441.00 and set a "buy" rating on the stock in a report on Thursday, December 15th. Finally, Wells Fargo & Company lifted their price target on shares of Mastercard from $365.00 to $405.00 and gave the stock an "overweight" rating in a research note on Thursday, December 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, Mastercard has an average rating of "Moderate Buy" and an average price target of $413.41.
Mastercard Stock Down 0.7 %
Shares of NYSE:MA traded down $2.58 during midday trading on Thursday, hitting $367.06. 207,597 shares of the stock were exchanged, compared to its average volume of 2,861,186. The business's fifty day simple moving average is $362.77 and its two-hundred day simple moving average is $339.35. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.25 and a current ratio of 1.17. The company has a market capitalization of $352.91 billion, a PE ratio of 36.17, a P/E/G ratio of 1.70 and a beta of 1.09. Mastercard Incorporated has a 52-week low of $276.87 and a 52-week high of $390.00.
Mastercard (NYSE:MA – Get Rating) last issued its quarterly earnings results on Thursday, January 26th. The credit services provider reported $2.65 EPS for the quarter, topping the consensus estimate of $2.56 by $0.09. Mastercard had a net margin of 44.65% and a return on equity of 158.38%. The company had revenue of $5.82 billion during the quarter, compared to analysts' expectations of $5.79 billion. During the same quarter in the previous year, the company earned $2.35 EPS. Mastercard's revenue was up 11.5% on a year-over-year basis. As a group, research analysts predict that Mastercard Incorporated will post 12.12 earnings per share for the current fiscal year.
Mastercard Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 9th. Shareholders of record on Friday, April 7th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend is Wednesday, April 5th. Mastercard's dividend payout ratio (DPR) is currently 22.31%.
Insider Activity
In other Mastercard news, CEO Michael Miebach sold 17,052 shares of the business's stock in a transaction dated Friday, January 27th. The shares were sold at an average price of $376.43, for a total value of $6,418,884.36. Following the completion of the sale, the chief executive officer now owns 35,544 shares of the company's stock, valued at approximately $13,379,827.92. In other news, CEO Michael Miebach sold 17,052 shares of the company's stock in a transaction on Friday, January 27th. The shares were sold at an average price of $376.43, for a total transaction of $6,418,884.36. Following the completion of the transaction, the chief executive officer now directly owns 35,544 shares in the company, valued at $13,379,827.92. Also, insider Craig Vosburg sold 6,333 shares of the company's stock in a transaction dated Thursday, January 12th. The stock was sold at an average price of $380.05, for a total value of $2,406,856.65. Following the completion of the transaction, the insider now directly owns 41,314 shares of the company's stock, valued at approximately $15,701,385.70. Insiders sold 647,302 shares of company stock worth $239,795,693 in the last quarter. Corporate insiders own 0.29% of the company's stock.
Mastercard Company Profile
(Get Rating)
Mastercard, Inc operates as a technology company. The firm engages in the payments industry that connects consumers, financial institutions, merchants, governments and business. It offers payment solutions for the development and implementation of credit, debit, prepaid, commercial and payment programs.
