Destination Wealth Management Increases Stake in Mastercard Incorporated (NYSE:MA)

Destination Wealth Management increased its position in Mastercard Incorporated (NYSE:MA) by 0.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 187,825 shares of the credit services provider’s stock after buying an additional 1,247 shares during the period. Mastercard makes up approximately 1.5% of Destination Wealth Management’s investment portfolio, making the stock its 21st largest position. Destination Wealth Management’s holdings in Mastercard were worth $21,125,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Mastercard during the fourth quarter worth $857,217,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in Mastercard during the fourth quarter worth $180,091,000. Asset Management One Co. Ltd. boosted its position in Mastercard by 953.0% in the fourth quarter. Asset Management One Co. Ltd. now owns 1,790,694 shares of the credit services provider’s stock worth $184,957,000 after buying an additional 1,620,638 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in Mastercard by 24.6% in the fourth quarter. UBS Asset Management Americas Inc. now owns 5,983,482 shares of the credit services provider’s stock worth $617,794,000 after buying an additional 1,182,995 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in Mastercard by 31.8% in the first quarter. Bank of Montreal Can now owns 3,527,052 shares of the credit services provider’s stock worth $396,689,000 after buying an additional 851,490 shares in the last quarter. Hedge funds and other institutional investors own 75.83% of the company’s stock.

Mastercard Incorporated (NYSE MA) traded down 0.79% during mid-day trading on Friday, reaching $127.91. The company’s stock had a trading volume of 5,257,924 shares. The company has a market cap of $136.48 billion, a price-to-earnings ratio of 31.74 and a beta of 1.17. Mastercard Incorporated has a 52-week low of $94.41 and a 52-week high of $132.20. The firm has a 50 day moving average price of $124.61 and a 200 day moving average price of $116.07.

Mastercard (NYSE:MA) last released its quarterly earnings results on Thursday, July 27th. The credit services provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.06. Mastercard had a return on equity of 74.92% and a net margin of 38.30%. The business had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter in the previous year, the business earned $0.96 EPS. The company’s quarterly revenue was up 13.3% on a year-over-year basis. Equities research analysts anticipate that Mastercard Incorporated will post $4.35 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 9th. Shareholders of record on Friday, July 7th will be given a dividend of $0.22 per share. The ex-dividend date is Wednesday, July 5th. This represents a $0.88 annualized dividend and a dividend yield of 0.69%. Mastercard’s dividend payout ratio is currently 21.78%.

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MA has been the subject of a number of analyst reports. Piper Jaffray Companies restated a “buy” rating on shares of Mastercard in a report on Friday, April 14th. Morgan Stanley upped their target price on Mastercard from $124.00 to $131.00 and gave the company an “overweight” rating in a research report on Tuesday, May 30th. Instinet upped their target price on Mastercard from $133.00 to $134.00 and gave the company a “buy” rating in a research report on Thursday, May 4th. Zacks Investment Research raised Mastercard from a “sell” rating to a “hold” rating in a research report on Wednesday, May 3rd. Finally, Barclays PLC upped their price target on Mastercard from $124.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, April 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $126.97.

In related news, major shareholder Foundation Mastercard sold 29,206 shares of Mastercard stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $130.33, for a total value of $3,806,417.98. Following the sale, the insider now owns 112,473,827 shares of the company’s stock, valued at approximately $14,658,713,872.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ajay Banga sold 161,742 shares of Mastercard stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $117.27, for a total transaction of $18,967,484.34. Following the completion of the sale, the chief executive officer now directly owns 333,495 shares in the company, valued at approximately $39,108,958.65. The disclosure for this sale can be found here. In the last three months, insiders have sold 629,038 shares of company stock worth $79,003,630. Insiders own 0.30% of the company’s stock.

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.

Institutional Ownership by Quarter for Mastercard (NYSE:MA)

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