Destination Wealth Management Decreases Stake in Mastercard Incorporated (MA)

Destination Wealth Management reduced its holdings in shares of Mastercard Incorporated (NYSE:MA) by 1.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 185,740 shares of the credit services provider’s stock after selling 2,085 shares during the quarter. Mastercard makes up approximately 1.5% of Destination Wealth Management’s holdings, making the stock its 21st biggest position. Destination Wealth Management’s holdings in Mastercard were worth $22,558,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MA. Carret Asset Management LLC boosted its holdings in shares of Mastercard by 1.2% in the 1st quarter. Carret Asset Management LLC now owns 17,260 shares of the credit services provider’s stock valued at $1,941,000 after buying an additional 200 shares during the last quarter. Nicholas Hoffman & Company LLC. boosted its holdings in shares of Mastercard by 3.0% in the 1st quarter. Nicholas Hoffman & Company LLC. now owns 3,496 shares of the credit services provider’s stock valued at $393,000 after buying an additional 101 shares during the last quarter. GHP Investment Advisors Inc. lifted its holdings in Mastercard by 1.4% during the 1st quarter. GHP Investment Advisors Inc. now owns 12,815 shares of the credit services provider’s stock valued at $1,441,000 after purchasing an additional 176 shares during the last quarter. Airain ltd acquired a new stake in Mastercard during the 1st quarter valued at $364,000. Finally, Cutter & CO Brokerage Inc. acquired a new stake in Mastercard during the 1st quarter valued at $526,000. 76.21% of the stock is owned by institutional investors.

Shares of Mastercard Incorporated (MA) opened at $149.69 on Tuesday. Mastercard Incorporated has a 12 month low of $99.51 and a 12 month high of $152.00. The company has a market capitalization of $158,312.31, a PE ratio of 34.70, a PEG ratio of 1.99 and a beta of 1.21. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.66 and a current ratio of 1.66.

Mastercard (NYSE:MA) last announced its quarterly earnings results on Tuesday, October 31st. The credit services provider reported $1.34 EPS for the quarter, beating the Zacks’ consensus estimate of $1.23 by $0.11. Mastercard had a return on equity of 78.38% and a net margin of 38.70%. The firm had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same period last year, the firm posted $1.08 earnings per share. The business’s revenue for the quarter was up 18.1% on a year-over-year basis. sell-side analysts anticipate that Mastercard Incorporated will post 4.54 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, November 9th. Stockholders of record on Friday, October 6th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend was Thursday, October 5th. Mastercard’s payout ratio is 20.47%.

In related news, insider Michael Fraccaro sold 5,800 shares of Mastercard stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $147.59, for a total value of $856,022.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Craig Vosburg sold 14,200 shares of Mastercard stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $141.86, for a total value of $2,014,412.00. Following the completion of the transaction, the insider now directly owns 40,646 shares in the company, valued at $5,766,041.56. The disclosure for this sale can be found here. Insiders have sold 25,000 shares of company stock worth $3,582,984 over the last three months. Insiders own 0.30% of the company’s stock.

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Several equities research analysts have issued reports on MA shares. Oppenheimer Holdings, Inc. raised their price target on Mastercard and gave the company an “outperform” rating in a report on Tuesday, July 18th. Jefferies Group LLC reaffirmed a “buy” rating and set a $147.00 price target (up previously from $140.00) on shares of Mastercard in a report on Tuesday, July 18th. Loop Capital raised their price target on Mastercard from $132.00 to $144.00 and gave the company a “positive” rating in a report on Friday, July 28th. They noted that the move was a valuation call. BMO Capital Markets raised their price target on Mastercard from $126.00 to $137.00 and gave the company an “outperform” rating in a report on Friday, July 28th. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $137.00 price target (up previously from $129.00) on shares of Mastercard in a report on Sunday, July 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $157.68.

About Mastercard

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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Institutional Ownership by Quarter for Mastercard (NYSE:MA)

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