Passive Capital Management LLC. Raises stake in Mastercard Incorporated (NYSE:MA)

Passive Capital Management LLC. raised its stake in shares of Mastercard Incorporated (NYSE:MA – Free Report) by 10.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 464 shares of the credit services provider’s stock after acquiring an additional 42 shares during the quarter. Passive Capital Management LLC’s holdings in Mastercard were worth $205,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have recently bought and sold shares of MA. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Mastercard by 12.3% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,762,800 shares of the credit services provider’s stock worth $777,677,000 after purchasing an additional 193,733 shares during the last quarter. SS&H Financial Advisors Inc. boosted its stake in Mastercard by 65.0% during the second quarter. SS&H Financial Advisors Inc. now owns 2,954 shares of the credit services provider’s stock worth $1,303,000 after buying an additional 1,164 shares during the last quarter. Heritage Wealth Management Inc. acquired a new position in Mastercard in the second quarter valued at approximately $213,000. Lazari Capital Management Inc. lifted its position in shares of Mastercard by 9.2% during the 2nd quarter. Lazari Capital Management Inc. now owns 1,897 shares of the credit services provider’s stock worth $837,000 after buying an additional 160 shares in the last quarter. Finally, Cim LLC grew its position in shares of Mastercard by 1.0% in the 2nd quarter. Cim LLC now owns 39,590 shares of the credit services provider’s stock valued at $18,899,000 after buying an additional 400 shares in the last quarter. 97.28% of the shares are currently held by hedge funds and other institutional investors.

Mastercard stock down 0.1%

Shares of MA stock opened at $495.67 on Thursday. Mastercard Incorporated has a fifty-two week low of $359.77 and a fifty-two week high of $501.80. The company has a quick ratio of 1.14, a current ratio of 1.14, and a debt-to-equity ratio of 1.95. The stock has a market cap of $460.78 billion, a PE ratio of 39.40, a price-to-earnings-growth ratio of 1.96 and a beta of 1.10. The company’s 50-day simple moving average is $474.05, and its 200-day simple moving average is $462.24.

Mastercard (NYSE:MA – Get Your Free Report ) last released its quarterly earnings results on Wednesday, July 31st. The credit services provider reported $3.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $0.08. The company had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $6.85 billion. Mastercard had a return on equity of 179.78% and a net margin of 46.45%. As a group, sell-side analysts predict that Mastercard Incorporated will post 14.29 EPS for the current year.

Mastercard announces dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th will be paid a dividend of $0.66 per share. This represents a dividend of $2.64 on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend is Wednesday, October 9. Mastercard’s payout rate is currently 20.99%.

Indoor activity

In related news, CFO J. Mehra Sachin sold 13,439 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $455.00, for a total value of $6,114,745.00. Following the sale, the chief financial officer now directly owns 27,304 shares in the company, valued at approximately $12,423,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO J. Mehra Sachin sold 13,439 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $455.00, for a total transaction of $6,114,745.00. Following the completion of the sale, the chief financial officer now directly owns 27,304 shares of the company’s stock, valued at $12,423,320. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. Also, major shareholder Mastercard Foundation sold 109,000 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $467.45, for a total transaction of $50,952,050.00. Following the sale, the insider now directly owns 91,924,308 shares of the company’s stock, valued at $42,970,017,774.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 340,809 shares of company stock worth $159,610,703. 0.10% of shares are owned by company insiders.

Changes in Analyst Ratings

Several brokerages have issued reports on MA. Barclays boosted their price objective on Mastercard from $530.00 to $536.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Compass Point began coverage on shares of Mastercard in a research report on Wednesday, September 4th. They set a “neutral” rating and a $525.00 price target on the stock. TD Cowen upped their target price on shares of Mastercard from $532.00 to $533.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Citigroup boosted their target price on shares of Mastercard from $528.00 to $538.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. boosted their price objective on Mastercard from $500.00 to $570.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Five equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Moderate Buy” and a consensus price target of $517.22, according to MarketBeat.

Read our latest review of MA

Mastercard Company Profile

(Free Report)

Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. The Company provides integrated products and value-added services for account holders, merchants, financial institutions, digital partners, businesses, governments and other organizations, such as programs that allow issuers to offer credit to consumers to defer payments; payment products and solutions that enable its customers to access funds in deposit accounts and other accounts; prepaid program services; and credit, debit and prepaid commercial products and solutions.

Further reading

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