Fortis Group Advisors LLC Sells 3,415 Shares of Mastercard Incorporated (NYSE:MA)

Fortis Group Advisors LLC reduced its stake in Mastercard Incorporated (NYSE:MA) by 48.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,655 shares of the credit services provider’s stock after selling 3,415 shares during the quarter. Fortis Group Advisors LLC’s holdings in Mastercard were worth $1,805,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of MA. Swedbank AB acquired a new stake in shares of Mastercard during the 1st quarter worth approximately $660,652,000. PineStone Asset Management Inc. boosted its position in Mastercard by 145.6% during the second quarter. PineStone Asset Management Inc. now owns 1,777,468 shares of the credit services provider’s stock valued at $784,148,000 after acquiring an additional 1,053,616 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in Mastercard during the second quarter valued at $259,071,000. Capital World Investors boosted its position in Mastercard by 13.3% during the first quarter. Capital World Investors now owns 3,293,617 shares of the credit services provider’s stock valued at $1,586,107,000 after acquiring an additional 387,317 shares during the last quarter. Finally, Lone Pine Capital LLC boosted its position in shares of Mastercard by 53.4% during the 2nd quarter. Lone Pine Capital LLC now owns 1,043,557 shares of the credit services provider’s stock worth $460,376,000 after purchasing an additional 363,133 shares in the last quarter. 97.28% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO J. Mehra Sachin sold 13,439 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $455.00, for a total value of $6,114,745.00. Following the transaction, the chief financial officer now owns 27,304 shares of the company’s stock, valued at $12,423,320. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Foundation Mastercard sold 119,000 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $468.46, for a total transaction of $55,746,740.00. Following the completion of the sale, the insider now owns 92,033,308 shares in the company, valued at approximately $43,113,923,465.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO J. Mehra Sachin sold 13,439 shares of Mastercard stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $455.00, for a total value of $6,114,745.00. Following the transaction, the chief financial officer now owns 27,304 shares of the company’s stock, valued at $12,423,320. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 340,809 shares of company stock valued at $159,610,703 over the last quarter. 0.10% of the stock is owned by corporate insiders.

Mastercard Stock Performance

NYSE:MA traded down $3.65 during mid-day trading on Tuesday, hitting $511.36. 367,657 shares of the company traded hands, compared to its average volume of 2,431,612. The stock’s fifty day moving average price is $488.09 and its 200-day moving average price is $464.33. Mastercard Incorporated has a one year low of $359.77 and a one year high of $518.82. 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 firm has a market cap of $475.37 billion, a price-to-earnings ratio of 40.94, a price-to-earnings-growth ratio of 2.22 and a beta of 1.10.

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

Mastercard Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Wednesday, October 9th will be paid a $0.66 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $2.64 annualized dividend and a yield of 0.52%. Mastercard’s dividend payout ratio (DPR) is currently 20.99%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Robert W. Baird increased their price target on Mastercard from $545.00 to $575.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Piper Sandler increased their price target on Mastercard from $531.00 to $536.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Bank of America increased their price target on Mastercard from $480.00 to $509.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Oppenheimer initiated coverage on Mastercard in a research note on Tuesday, October 1st. They set an “outperform” rating and a $591.00 price target for the company. Finally, TD Cowen increased their price target on Mastercard from $532.00 to $533.00 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 issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, Mastercard has an average rating of “Moderate Buy” and an average price target of $525.68.

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.