Mastercard Incorporated (NYSE:MA) Shares Sold by Asset Dedication LLC

Asset Dedication LLC lessened its stake in Mastercard Incorporated (NYSE:MA) by 0.3% in the 2nd quarter, Holdings Channel reports. The firm owned 9,807 shares of the credit services provider’s stock after selling 30 shares during the period. Asset Dedication LLC’s holdings in Mastercard were worth $4,326,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Intech Investment Management LLC grew its holdings in shares of Mastercard by 15.6% in the fourth quarter. Intech Investment Management LLC now owns 24,452 shares of the credit services provider’s stock valued at $10,429,000 after purchasing an additional 3,306 shares in the last quarter. Beacon Pointe Advisors LLC increased its position in shares of Mastercard by 0.7% during the fourth quarter. Beacon Pointe Advisors LLC now owns 62,553 shares of the credit services provider’s stock worth $26,680,000 after acquiring an additional 438 shares during the period. Brevan Howard Capital Management LP raised its stake in shares of Mastercard by 213.2% in the fourth quarter. Brevan Howard Capital Management LP now owns 8,456 shares of the credit services provider’s stock valued at $3,607,000 after acquiring an additional 5,756 shares in the last quarter. Banque Cantonale Vaudoise boosted its holdings in Mastercard by 6.9% in the first quarter. Banque Cantonale Vaudoise now owns 41,250 shares of the credit services provider’s stock valued at $19,865,000 after purchasing an additional 2,676 shares during the period. Finally, NEOS Investment Management LLC grew its stake in Mastercard by 42.0% during the 4th quarter. NEOS Investment Management LLC now owns 11,724 shares of the credit services provider’s stock worth $5,000,000 after purchasing an additional 3,469 shares in the last quarter. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Mastercard Stock Performance

Shares of MA stock opened at $476.12 on Friday. The stock’s 50-day moving average price is $456.26 and its 200 day moving average price is $459.65. 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 capitalization of $442.61 billion, a PE ratio of 37.85, a price-to-earnings-growth ratio of 1.90 and a beta of 1.10. Mastercard Incorporated has a 52-week low of $359.77 and a 52-week high of $490.00.

Mastercard Announces Dividend

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

Insider Transactions at Mastercard

In other Mastercard news, insider Raj Seshadri sold 3,464 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $447.84, for a total value of $1,551,317.76. Following the transaction, the insider now directly owns 13,736 shares of the company’s stock, valued at approximately $6,151,530.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Mastercard news, insider Raj Seshadri sold 3,464 shares of Mastercard stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $447.84, for a total value of $1,551,317.76. Following the sale, the insider now owns 13,736 shares of the company’s stock, valued at approximately $6,151,530.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Foundation Mastercard sold 113,000 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $447.85, for a total value of $50,607,050.00. Following the transaction, the insider now directly owns 93,446,308 shares of the company’s stock, valued at $41,849,929,037.80. The disclosure for this sale can be found here. Insiders sold 1,167,931 shares of company stock worth $531,284,982 over the last 90 days. 0.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. KeyCorp increased their price target on Mastercard from $490.00 to $515.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. BMO Capital Markets reiterated an “outperform” rating and issued a $520.00 price target on shares of Mastercard in a research note on Wednesday, August 14th. Piper Sandler increased their price objective on shares of Mastercard from $531.00 to $536.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Barclays lifted their price objective on shares of Mastercard from $530.00 to $536.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Finally, JPMorgan Chase & Co. increased their target price on Mastercard from $500.00 to $570.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Five analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $510.88.

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.