Convergence Investment Partners LLC Decreases Stock Holdings in Mastercard Incorporated (NYSE:MA)

Convergence Investment Partners LLC lowered its position in shares of Mastercard Incorporated (NYSE:MA) by 31.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,383 shares of the credit services provider’s stock after selling 620 shares during the quarter. Convergence Investment Partners LLC’s holdings in Mastercard were worth $590,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Atlantic Union Bankshares Corp boosted its holdings in Mastercard by 16.7% in the third quarter. Atlantic Union Bankshares Corp now owns 9,787 shares of the credit services provider’s stock valued at $3,875,000 after acquiring an additional 1,403 shares in the last quarter. Lodestone Wealth Management LLC lifted its position in shares of Mastercard by 4.9% in the 3rd quarter. Lodestone Wealth Management LLC now owns 984 shares of the credit services provider’s stock worth $390,000 after purchasing an additional 46 shares during the period. Steward Financial Group LLC boosted its stake in shares of Mastercard by 10.5% during the 3rd quarter. Steward Financial Group LLC now owns 643 shares of the credit services provider’s stock valued at $254,000 after purchasing an additional 61 shares in the last quarter. Kathleen S. Wright Associates Inc. increased its position in shares of Mastercard by 1,739.1% during the third quarter. Kathleen S. Wright Associates Inc. now owns 846 shares of the credit services provider’s stock valued at $331,000 after buying an additional 800 shares during the period. Finally, PDS Planning Inc raised its stake in Mastercard by 2.7% in the third quarter. PDS Planning Inc now owns 3,892 shares of the credit services provider’s stock worth $1,541,000 after buying an additional 101 shares in the last quarter. Institutional investors own 97.28% of the company’s stock.

Mastercard Trading Up 0.1 %

Mastercard stock opened at $462.42 on Monday. Mastercard Incorporated has a one year low of $357.85 and a one year high of $490.00. The business’s fifty day moving average is $471.35 and its 200 day moving average is $436.61. The company has a debt-to-equity ratio of 2.06, a current ratio of 1.17 and a quick ratio of 1.17. The stock has a market capitalization of $431.39 billion, a PE ratio of 39.09, a price-to-earnings-growth ratio of 1.76 and a beta of 1.08.

Mastercard (NYSE:MA) last announced its quarterly earnings results on Wednesday, January 31st. The credit services provider reported $3.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.08 by $0.10. Mastercard had a net margin of 44.60% and a return on equity of 191.22%. The firm had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.46 billion. During the same quarter last year, the firm posted $2.65 EPS. On average, sell-side analysts predict that Mastercard Incorporated will post 14.35 EPS for the current year.

Mastercard Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Tuesday, April 9th will be paid a dividend of $0.66 per share. The ex-dividend date of this dividend is Monday, April 8th. This represents a $2.64 dividend on an annualized basis and a yield of 0.57%. Mastercard’s dividend payout ratio is presently 22.32%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MA shares. Mizuho reiterated a “buy” rating and set a $480.00 target price on shares of Mastercard in a report on Wednesday, March 27th. William Blair reiterated an “outperform” rating on shares of Mastercard in a report on Wednesday, January 31st. Evercore ISI boosted their target price on shares of Mastercard from $530.00 to $545.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. BMO Capital Markets lifted their price target on shares of Mastercard from $480.00 to $490.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Finally, Susquehanna restated a “positive” rating and issued a $535.00 price objective on shares of Mastercard in a report on Wednesday, April 3rd. Two analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $490.23.

Insider Activity

In other Mastercard news, major shareholder Foundation Mastercard sold 109,000 shares of the stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $462.78, for a total value of $50,443,020.00. Following the transaction, the insider now owns 96,996,308 shares of the company’s stock, valued at $44,887,951,416.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Mastercard news, major shareholder Foundation Mastercard sold 109,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $462.78, for a total transaction of $50,443,020.00. Following the completion of the sale, the insider now directly owns 96,996,308 shares of the company’s stock, valued at $44,887,951,416.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael Miebach sold 7,851 shares of Mastercard stock in a transaction on Friday, March 1st. The stock was sold at an average price of $475.92, for a total transaction of $3,736,447.92. Following the transaction, the chief executive officer now owns 47,640 shares in the company, valued at approximately $22,672,828.80. The disclosure for this sale can be found here. Insiders have sold 366,630 shares of company stock valued at $168,746,490 in the last ninety days. 0.13% of the stock is currently owned by company insiders.

About Mastercard

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