Meritage Portfolio Management grew its position in shares of Mastercard Incorporated (NYSE:MA) by 0.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 50,119 shares of the credit services provider’s stock after buying an additional 70 shares during the quarter. Mastercard accounts for approximately 1.5% of Meritage Portfolio Management’s investment portfolio, making the stock its 12th biggest holding. Meritage Portfolio Management’s holdings in Mastercard were worth $16,949,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Nordea Investment Management AB increased its stake in shares of Mastercard by 146.6% during the 2nd quarter. Nordea Investment Management AB now owns 4,398,140 shares of the credit services provider’s stock worth $1,287,820,000 after purchasing an additional 2,614,737 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Mastercard by 6.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,617,293 shares of the credit services provider’s stock worth $4,026,634,000 after purchasing an additional 767,923 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of Mastercard by 9.4% during the 2nd quarter. Fisher Asset Management LLC now owns 3,895,062 shares of the credit services provider’s stock worth $1,151,770,000 after purchasing an additional 335,057 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd increased its stake in shares of Mastercard by 571.1% during the 2nd quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 380,805 shares of the credit services provider’s stock worth $112,604,000 after purchasing an additional 324,063 shares during the last quarter. Finally, GUARDCAP ASSET MANAGEMENT Ltd increased its stake in shares of Mastercard by 32.7% during the 2nd quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 1,164,663 shares of the credit services provider’s stock worth $344,391,000 after purchasing an additional 286,836 shares during the last quarter. 73.72% of the stock is currently owned by hedge funds and other institutional investors.

In other Mastercard news, CFO J. Mehra Sachin sold 13,996 shares of the business’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $308.96, for a total value of $4,324,204.16. Following the completion of the sale, the chief financial officer now directly owns 24,918 shares of the company’s stock, valued at $7,698,665.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard Haythornthwaite sold 5,000 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $307.29, for a total transaction of $1,536,450.00. Following the completion of the transaction, the director now owns 32,573 shares in the company, valued at approximately $10,009,357.17. The disclosure for this sale can be found here. Insiders sold 215,567 shares of company stock valued at $71,292,644 over the last three months. 3.79% of the stock is currently owned by insiders.

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group raised their price target on shares of Mastercard from $305.00 to $330.00 and gave the stock a “hold” rating in a research note on Friday, October 2nd. Bank of America raised their price target on shares of Mastercard from $324.00 to $358.00 and gave the stock a “neutral” rating in a research note on Thursday, August 27th. Wells Fargo & Company reiterated a “buy” rating on shares of Mastercard in a research note on Friday, October 9th. KeyCorp lifted their price objective on shares of Mastercard from $340.00 to $365.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Mastercard from $320.00 to $383.00 and gave the company a “buy” rating in a research note on Tuesday, September 15th. Five equities research analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the stock. Mastercard currently has an average rating of “Buy” and an average target price of $349.97.

Shares of NYSE MA traded down $21.99 during mid-day trading on Wednesday, reaching $295.12. 499,158 shares of the company were exchanged, compared to its average volume of 4,851,816. Mastercard Incorporated has a 52 week low of $199.99 and a 52 week high of $367.25. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 1.92. The stock has a market capitalization of $317.45 billion, a PE ratio of 43.86, a PEG ratio of 2.77 and a beta of 1.11. The company’s 50 day moving average price is $336.76 and its 200 day moving average price is $310.31.

Mastercard (NYSE:MA) last posted its quarterly earnings data on Thursday, July 30th. The credit services provider reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.21. The company had revenue of $3.30 billion during the quarter, compared to the consensus estimate of $3.26 billion. Mastercard had a net margin of 45.12% and a return on equity of 129.52%. The firm’s revenue was down 19.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.89 EPS. On average, sell-side analysts predict that Mastercard Incorporated will post 6.61 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Friday, October 9th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.54%. The ex-dividend date is Thursday, October 8th. Mastercard’s dividend payout ratio is presently 20.59%.

Mastercard Company Profile

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.

Further Reading: Support Level

Institutional Ownership by Quarter for Mastercard (NYSE:MA)

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