Manitou Investment Management Ltd. reduced its stake in Mastercard Inc (NYSE:MA) by 0.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,853 shares of the credit services provider’s stock after selling 267 shares during the period. Mastercard comprises approximately 2.7% of Manitou Investment Management Ltd.’s investment portfolio, making the stock its 16th largest position. Manitou Investment Management Ltd.’s holdings in Mastercard were worth $11,366,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of MA. Joseph P. Lucia & Associates LLC acquired a new position in Mastercard during the 2nd quarter valued at about $26,000. Ellevest Inc. increased its stake in shares of Mastercard by 52.8% in the 2nd quarter. Ellevest Inc. now owns 110 shares of the credit services provider’s stock valued at $29,000 after acquiring an additional 38 shares in the last quarter. Howe & Rusling Inc. bought a new stake in shares of Mastercard in the 3rd quarter valued at $29,000. Delphi Private Advisors LLC bought a new stake in shares of Mastercard in the 2nd quarter valued at $31,000. Finally, Evolution Wealth Advisors LLC bought a new stake in shares of Mastercard in the 2nd quarter valued at $31,000. Institutional investors own 74.21% of the company’s stock.
In related news, Director Richard K. Davis purchased 1,735 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average price of $270.09 per share, with a total value of $468,606.15. Following the completion of the acquisition, the director now owns 6,031 shares in the company, valued at $1,628,912.79. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael Miebach sold 2,770 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $285.00, for a total value of $789,450.00. Following the completion of the sale, the insider now directly owns 12,778 shares of the company’s stock, valued at approximately $3,641,730. The disclosure for this sale can be found here. In the last 90 days, insiders sold 99,080 shares of company stock worth $27,149,356. Company insiders own 3.70% of the company’s stock.
Mastercard (NYSE:MA) last issued its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.14. The company had revenue of $4.47 billion for the quarter, compared to the consensus estimate of $4.41 billion. Mastercard had a return on equity of 146.92% and a net margin of 42.50%. Mastercard’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.78 earnings per share. On average, sell-side analysts expect that Mastercard Inc will post 7.69 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th were given a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, October 8th. This represents a $1.32 annualized dividend and a dividend yield of 0.48%. Mastercard’s dividend payout ratio (DPR) is presently 20.34%.
MA has been the subject of several research analyst reports. Goldman Sachs Group reiterated a “buy” rating on shares of Mastercard in a research note on Tuesday, September 3rd. Moffett Nathanson set a $320.00 price objective on Mastercard and gave the company a “buy” rating in a research note on Wednesday, September 18th. Nomura increased their price objective on Mastercard from $282.00 to $324.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. William Blair reissued an “outperform” rating on shares of Mastercard in a research note on Friday, September 13th. Finally, Barclays increased their price objective on Mastercard from $319.00 to $320.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Three research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $303.45.
Mastercard Company Profile
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.
Featured Article: Why do commodities matter?
Want to see what other hedge funds are holding MA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mastercard Inc (NYSE:MA).
Receive News & Ratings for Mastercard Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mastercard and related companies with MarketBeat.com's FREE daily email newsletter.