Schmidt P J Investment Management Inc. Reduces Holdings in Mastercard Incorporated (NYSE:MA)

Schmidt P J Investment Management Inc. reduced its holdings in shares of Mastercard Incorporated (NYSE:MA) by 0.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,356 shares of the credit services provider’s stock after selling 23 shares during the period. Schmidt P J Investment Management Inc.’s holdings in Mastercard were worth $4,126,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of MA. International Assets Investment Management LLC boosted its stake in Mastercard by 120,665.3% during the third quarter. International Assets Investment Management LLC now owns 8,041,758 shares of the credit services provider’s stock valued at $3,971,020,000 after buying an additional 8,035,099 shares during the last quarter. Swedbank AB purchased a new stake in Mastercard during the first quarter valued at $660,652,000. PineStone Asset Management Inc. lifted 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 purchasing an additional 1,053,616 shares during the last quarter. Manning & Napier Advisors LLC purchased a new position in shares of Mastercard in the 2nd quarter worth $259,071,000. Finally, Capital World Investors raised its position in shares of Mastercard by 13.3% during the 1st quarter. Capital World Investors now owns 3,293,617 shares of the credit services provider’s stock valued at $1,586,107,000 after buying an additional 387,317 shares in the last quarter. 97.28% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on MA. Piper Sandler raised their price objective on Mastercard from $531.00 to $536.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Citigroup boosted their price objective on shares of Mastercard from $528.00 to $538.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Robert W. Baird raised their target price on shares of Mastercard from $545.00 to $575.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. upped their price target on shares of Mastercard from $570.00 to $593.00 and gave the company an “overweight” rating in a report on Monday. Finally, TD Cowen raised their price objective on shares of Mastercard from $532.00 to $533.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, Mastercard presently has an average rating of “Moderate Buy” and a consensus target price of $525.68.

Insider Buying and Selling

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

Mastercard Price Performance

MA stock opened at $510.48 on Friday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.95. The company has a market capitalization of $474.55 billion, a PE ratio of 40.58, a P/E/G ratio of 2.22 and a beta of 1.10. The business’s fifty day moving average price is $490.23 and its 200 day moving average price is $464.93. Mastercard Incorporated has a 12-month low of $359.77 and a 12-month high of $518.82.

Mastercard (NYSE:MA) last posted its quarterly earnings results on Wednesday, July 31st. The credit services provider reported $3.59 EPS for the quarter, topping the consensus estimate of $3.51 by $0.08. The company had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $6.85 billion. Mastercard had a net margin of 46.45% and a return on equity of 179.78%. On average, sell-side analysts anticipate that Mastercard Incorporated will post 14.3 EPS for the current year.

Mastercard Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors 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 0.52%. The ex-dividend date of this dividend is Wednesday, October 9th. Mastercard’s dividend payout ratio (DPR) is 20.99%.

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.