Mastercard Incorporated (MA) Position Reduced by Cim LLC
Cim LLC lowered its stake in shares of Mastercard Incorporated (NYSE:MA) by 1.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 83,253 shares of the credit services provider’s stock after selling 1,363 shares during the period. Mastercard comprises 4.3% of Cim LLC’s portfolio, making the stock its 6th largest holding. Cim LLC’s holdings in Mastercard were worth $10,111,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. American Beacon Advisors Inc. purchased a new stake in Mastercard during the first quarter worth about $100,000. Proficio Capital Partners LLC boosted its holdings in Mastercard by 108.2% during the first quarter. Proficio Capital Partners LLC now owns 893 shares of the credit services provider’s stock worth $108,000 after buying an additional 464 shares in the last quarter. Lipe & Dalton purchased a new stake in Mastercard during the first quarter worth about $101,000. Chicago Partners Investment Group LLC boosted its holdings in Mastercard by 1,365.6% during the second quarter. Chicago Partners Investment Group LLC now owns 938 shares of the credit services provider’s stock worth $105,000 after buying an additional 874 shares in the last quarter. Finally, Norway Savings Bank boosted its holdings in Mastercard by 1.1% during the second quarter. Norway Savings Bank now owns 960 shares of the credit services provider’s stock worth $117,000 after buying an additional 10 shares in the last quarter. 76.09% of the stock is currently owned by hedge funds and other institutional investors.
Mastercard Incorporated (MA) opened at 148.95 on Tuesday. The firm has a market cap of $158.62 billion, a price-to-earnings ratio of 36.96 and a beta of 1.18. The company’s 50-day moving average is $143.64 and its 200 day moving average is $129.40. Mastercard Incorporated has a 12 month low of $99.51 and a 12 month high of $151.48.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 9th. Stockholders of record on Friday, October 6th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend is Thursday, October 5th. Mastercard’s dividend payout ratio (DPR) is 21.78%.
In related news, insider Michael Fraccaro sold 5,800 shares of the firm’s stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $147.59, for a total transaction of $856,022.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard Haythornthwaite sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $142.51, for a total transaction of $712,550.00. Following the transaction, the director now directly owns 45,278 shares in the company, valued at approximately $6,452,567.78. The disclosure for this sale can be found here. Insiders sold 349,760 shares of company stock valued at $45,615,590 over the last three months. 0.30% of the stock is owned by insiders.
Several analysts have issued reports on the stock. Sanford C. Bernstein reaffirmed a “buy” rating and issued a $166.00 price target (up previously from $145.00) on shares of Mastercard in a report on Monday. They noted that the move was a valuation call. Barclays PLC upped their price target on shares of Mastercard from $148.00 to $158.00 and gave the company an “overweight” rating in a report on Wednesday, October 18th. KeyCorp reaffirmed a “buy” rating and issued a $165.00 price target on shares of Mastercard in a report on Wednesday, October 18th. Citigroup Inc. upped their price target on shares of Mastercard from $157.00 to $167.00 and gave the company a “buy” rating in a report on Wednesday, October 18th. Finally, Robert W. Baird upped their price target on shares of Mastercard from $150.00 to $170.00 and gave the company an “outperform” rating in a report on Monday, October 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-seven have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $149.98.
Mastercard Company Profile
MasterCard Incorporated is a technology company that connects consumers, financial institutions, merchants, governments and businesses across the world, enabling them to use electronic forms of payment. The Company operates through Payment Solutions segment. The Company allows user to make payments by creating a range of payment solutions and services using its brands, which include MasterCard, Maestro and Cirrus.
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