Mastercard Incorporated (NYSE:MA) Stock Position Lifted by iA Global Asset Management Inc.

iA Global Asset Management Inc. increased its stake in Mastercard Incorporated (NYSE:MA) by 26.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 530,266 shares of the credit services provider’s stock after acquiring an additional 110,972 shares during the period. Mastercard comprises about 2.6% of iA Global Asset Management Inc.’s holdings, making the stock its 7th largest holding. iA Global Asset Management Inc. owned approximately 0.06% of Mastercard worth $233,932,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of MA. Altshuler Shaham Ltd purchased a new stake in shares of Mastercard during the fourth quarter worth about $26,000. VitalStone Financial LLC raised its position in Mastercard by 300.0% during the 4th quarter. VitalStone Financial LLC now owns 60 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 45 shares during the last quarter. Westend Capital Management LLC purchased a new stake in Mastercard in the 1st quarter worth approximately $27,000. Palisade Asset Management LLC purchased a new stake in Mastercard in the 1st quarter worth approximately $27,000. Finally, Scarborough Advisors LLC bought a new stake in shares of Mastercard in the 4th quarter worth approximately $28,000. 97.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MA has been the subject of a number of recent analyst reports. Piper Sandler upped their target price on Mastercard from $531.00 to $536.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. William Blair upgraded shares of Mastercard to a “strong-buy” rating in a report on Wednesday, July 31st. Evercore ISI cut their target price on shares of Mastercard from $540.00 to $525.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. BMO Capital Markets reissued an “outperform” rating and issued a $520.00 price target on shares of Mastercard in a research note on Wednesday, August 14th. Finally, TD Cowen increased their price objective on Mastercard from $532.00 to $533.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $512.09.

Mastercard Stock Performance

NYSE:MA traded up $2.30 during trading hours on Friday, reaching $483.10. The company had a trading volume of 2,981,796 shares, compared to its average volume of 2,451,809. The firm has a market cap of $449.10 billion, a price-to-earnings ratio of 38.42, a PEG ratio of 1.82 and a beta of 1.09. The company has a current ratio of 1.14, a quick ratio of 1.09 and a debt-to-equity ratio of 1.95. The firm’s 50 day moving average price is $452.63 and its 200-day moving average price is $458.94. Mastercard Incorporated has a 52 week low of $359.77 and a 52 week high of $490.00.

Mastercard Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Tuesday, July 9th were issued a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Tuesday, July 9th. Mastercard’s payout ratio is currently 20.99%.

Insider Activity at Mastercard

In other news, major shareholder Foundation Mastercard sold 138,000 shares of the stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $453.19, for a total value of $62,540,220.00. Following the transaction, the insider now owns 92,152,308 shares in the company, valued at approximately $41,762,504,462.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO J. Mehra Sachin sold 13,439 shares of Mastercard 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 transaction, the chief financial officer now directly owns 27,304 shares in the company, valued at $12,423,320. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Foundation Mastercard sold 138,000 shares of the company’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $453.19, for a total value of $62,540,220.00. Following the completion of the sale, the insider now owns 92,152,308 shares of the company’s stock, valued at approximately $41,762,504,462.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,516,959 shares of company stock worth $686,890,426. 0.10% of the stock is owned by 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.