Eagle Ridge Investment Management lowered its holdings in shares of Mastercard Inc (NYSE:MA) by 26.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,889 shares of the credit services provider’s stock after selling 22,289 shares during the period. Mastercard makes up 2.4% of Eagle Ridge Investment Management’s investment portfolio, making the stock its 9th largest holding. Eagle Ridge Investment Management’s holdings in Mastercard were worth $16,371,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the stock. Joseph P. Lucia & Associates LLC bought a new position in shares of Mastercard in the second quarter worth approximately $26,000. Delphi Private Advisors LLC acquired a new stake in Mastercard in the 2nd quarter worth approximately $31,000. Evolution Wealth Advisors LLC acquired a new stake in Mastercard in the 2nd quarter worth approximately $31,000. Valley National Advisers Inc. boosted its stake in Mastercard by 210.9% in the 4th quarter. Valley National Advisers Inc. now owns 143 shares of the credit services provider’s stock worth $27,000 after purchasing an additional 97 shares in the last quarter. Finally, Field & Main Bank acquired a new stake in Mastercard in the 1st quarter worth approximately $38,000. 74.25% of the stock is currently owned by institutional investors and hedge funds.
In related news, major shareholder Foundation Mastercard sold 15,890 shares of Mastercard stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $272.06, for a total value of $4,323,033.40. Following the sale, the insider now owns 112,030,712 shares of the company’s stock, valued at approximately $30,479,075,506.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard K. Davis purchased 1,735 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average cost of $270.09 per share, for a total transaction of $468,606.15. Following the purchase, the director now directly owns 6,031 shares in the company, valued at approximately $1,628,912.79. The disclosure for this purchase can be found here. Insiders sold a total of 201,511 shares of company stock worth $54,471,508 in the last three months. 3.70% of the stock is owned by corporate insiders.
Mastercard (NYSE:MA) last released its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.07. Mastercard had a net margin of 42.71% and a return on equity of 135.02%. The firm had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter last year, the company earned $1.66 EPS. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. As a group, analysts expect that Mastercard Inc will post 7.61 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Tuesday, July 9th were paid a $0.33 dividend. The ex-dividend date of this dividend was Monday, July 8th. This represents a $1.32 dividend on an annualized basis and a yield of 0.48%. Mastercard’s dividend payout ratio is currently 20.34%.
A number of equities analysts have issued reports on the stock. KeyCorp raised their price target on shares of Mastercard from $230.00 to $265.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Citigroup set a $317.00 target price on shares of Mastercard and gave the company a “buy” rating in a report on Friday, July 19th. Wells Fargo & Co lifted their target price on shares of Mastercard from $285.00 to $305.00 and gave the company an “outperform” rating in a report on Wednesday, July 10th. Zacks Investment Research raised shares of Mastercard from a “hold” rating to a “buy” rating and set a $275.00 target price for the company in a report on Wednesday, May 15th. Finally, Nomura lifted their target price on shares of Mastercard from $282.00 to $324.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $291.80.
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.
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