Allspring Global Investments Holdings LLC Reduces Holdings in Mastercard Incorporated (NYSE:MA)

Allspring Global Investments Holdings LLC trimmed its position in shares of Mastercard Incorporated (NYSE:MA) by 9.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 495,703 shares of the credit services provider’s stock after selling 53,803 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Mastercard were worth $244,779,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Mastercard by 0.4% during the first quarter. Vanguard Group Inc. now owns 75,584,606 shares of the credit services provider’s stock worth $36,399,279,000 after purchasing an additional 330,872 shares in the last quarter. Capital Research Global Investors grew its holdings in Mastercard by 0.3% in the 1st quarter. Capital Research Global Investors now owns 13,651,904 shares of the credit services provider’s stock valued at $6,574,347,000 after buying an additional 43,881 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Mastercard by 1.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,082,729 shares of the credit services provider’s stock valued at $2,241,297,000 after buying an additional 71,569 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in Mastercard by 2.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 4,327,168 shares of the credit services provider’s stock valued at $1,908,973,000 after buying an additional 113,238 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in Mastercard by 0.9% in the 2nd quarter. American Century Companies Inc. now owns 4,250,760 shares of the credit services provider’s stock valued at $1,875,266,000 after buying an additional 38,380 shares in the last quarter. 97.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MA has been the subject of several analyst reports. TD Cowen upped their target price on Mastercard from $532.00 to $533.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Susquehanna upped their price target on Mastercard from $535.00 to $540.00 and gave the company a “positive” rating in a research note on Thursday, August 1st. Bank of America upped their price target on Mastercard from $480.00 to $509.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. JPMorgan Chase & Co. upped their price target on Mastercard from $500.00 to $570.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Finally, Citigroup increased their target price on Mastercard from $528.00 to $538.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $524.64.

Insider Activity

In related news, CMO Venkata R. Madabhushi sold 4,685 shares of Mastercard stock in a transaction on Friday, September 13th. The stock was sold at an average price of $493.10, for a total value of $2,310,173.50. Following the transaction, the chief marketing officer now owns 17,118 shares in the company, valued at approximately $8,440,885.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder Foundation Mastercard sold 90,000 shares of Mastercard stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $468.80, for a total value of $42,192,000.00. Following the transaction, the insider now owns 91,649,308 shares in the company, valued at approximately $42,965,195,590.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Venkata R. Madabhushi sold 4,685 shares of Mastercard stock in a transaction on Friday, September 13th. The shares were sold at an average price of $493.10, for a total value of $2,310,173.50. Following the completion of the transaction, the chief marketing officer now owns 17,118 shares in the company, valued at $8,440,885.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 340,809 shares of company stock valued at $159,610,703 over the last quarter. Company insiders own 0.10% of the company’s stock.

Mastercard Stock Performance

Mastercard stock traded up $2.58 during mid-day trading on Friday, reaching $516.34. 2,604,684 shares of the company were exchanged, compared to its average volume of 2,442,889. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.14 and a current ratio of 1.14. The firm’s 50-day simple moving average is $486.90 and its two-hundred day simple moving average is $464.10. The firm has a market cap of $480.00 billion, a PE ratio of 41.04, a price-to-earnings-growth ratio of 2.22 and a beta of 1.10. Mastercard Incorporated has a twelve month low of $359.77 and a twelve month high of $518.00.

Mastercard (NYSE:MA) last announced its quarterly earnings data on Wednesday, July 31st. The credit services provider reported $3.59 EPS for the quarter, beating analysts’ consensus estimates of $3.51 by $0.08. The business had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.85 billion. Mastercard had a return on equity of 179.78% and a net margin of 46.45%. Equities analysts predict that Mastercard Incorporated will post 14.3 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th will be given a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date is Wednesday, October 9th. Mastercard’s dividend payout ratio is currently 20.99%.

Mastercard Profile

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.