Oakbrook Investments LLC Sells 10,000 Shares of Mastercard Incorporated (MA)
Oakbrook Investments LLC cut its position in shares of Mastercard Incorporated (NYSE:MA) by 17.4% during the second quarter, Holdings Channel reports. The firm owned 47,580 shares of the credit services provider’s stock after selling 10,000 shares during the period. Oakbrook Investments LLC’s holdings in Mastercard were worth $5,779,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Mastercard by 2.9% in the first quarter. Vanguard Group Inc. now owns 63,807,040 shares of the credit services provider’s stock worth $7,176,378,000 after buying an additional 1,814,116 shares during the period. State Street Corp raised its position in Mastercard by 0.4% in the first quarter. State Street Corp now owns 37,454,824 shares of the credit services provider’s stock worth $4,212,546,000 after buying an additional 140,515 shares during the period. Ameriprise Financial Inc. raised its position in Mastercard by 6.2% in the first quarter. Ameriprise Financial Inc. now owns 10,168,300 shares of the credit services provider’s stock worth $1,143,636,000 after buying an additional 591,427 shares during the period. Canada Pension Plan Investment Board raised its position in Mastercard by 1.4% in the first quarter. Canada Pension Plan Investment Board now owns 8,409,658 shares of the credit services provider’s stock worth $945,834,000 after buying an additional 114,900 shares during the period. Finally, Akre Capital Management LLC raised its position in Mastercard by 13.4% in the first quarter. Akre Capital Management LLC now owns 5,329,183 shares of the credit services provider’s stock worth $599,373,000 after buying an additional 627,792 shares during the period. Hedge funds and other institutional investors own 75.76% of the company’s stock.
Mastercard Incorporated (MA) traded up 0.04% during trading on Monday, reaching $129.87. The company’s stock had a trading volume of 679,147 shares. The firm has a 50 day moving average of $124.99 and a 200 day moving average of $116.49. The stock has a market capitalization of $138.30 billion, a price-to-earnings ratio of 32.23 and a beta of 1.17. Mastercard Incorporated has a 52 week low of $94.41 and a 52 week high of $132.20.
Mastercard (NYSE:MA) last posted its quarterly earnings data on Thursday, July 27th. The credit services provider reported $1.10 EPS for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.06. Mastercard had a net margin of 38.30% and a return on equity of 74.92%. The business had revenue of $3.05 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same quarter last year, the business earned $0.96 earnings per share. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. Analysts expect that Mastercard Incorporated will post $4.39 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 9th. Investors of record on Friday, July 7th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.68%. Mastercard’s dividend payout ratio is presently 21.78%.
MA has been the subject of a number of recent analyst reports. Deutsche Bank AG reaffirmed a “buy” rating and set a $150.00 price target (up from $124.00) on shares of Mastercard in a report on Monday, July 10th. BMO Capital Markets lifted their price target on Mastercard from $123.00 to $126.00 and gave the stock an “outperform” rating in a report on Wednesday, May 3rd. Wedbush reaffirmed an “outperform” rating and set a $129.00 price target (up from $126.00) on shares of Mastercard in a report on Tuesday, June 6th. Cowen and Company lifted their price target on Mastercard from $122.00 to $127.00 and gave the stock an “outperform” rating in a report on Wednesday, May 3rd. Finally, Vetr downgraded Mastercard from a “buy” rating to a “hold” rating and set a $116.99 price target for the company. in a report on Monday, April 17th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. Mastercard has a consensus rating of “Buy” and a consensus price target of $128.20.
In other Mastercard news, CFO Martina Hundmejean sold 91,107 shares of Mastercard stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $129.79, for a total value of $11,824,777.53. Following the transaction, the chief financial officer now owns 170,570 shares in the company, valued at $22,138,280.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Foundation Mastercard sold 87,618 shares of Mastercard stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $127.98, for a total transaction of $11,213,351.64. Following the completion of the transaction, the insider now owns 112,649,063 shares in the company, valued at approximately $14,416,827,082.74. The disclosure for this sale can be found here. Insiders have sold 704,433 shares of company stock worth $90,655,568 in the last quarter. Company 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.
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