Mastercard Incorporated (NYSE:MA) is PineStone Asset Management Inc.’s 6th Largest Position

PineStone Asset Management Inc. cut its position in shares of Mastercard Incorporated (NYSE:MA) by 35.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,150,450 shares of the credit services provider’s stock after selling 627,018 shares during the quarter. Mastercard accounts for about 5.5% of PineStone Asset Management Inc.’s investment portfolio, making the stock its 6th largest holding. PineStone Asset Management Inc. owned about 0.12% of Mastercard worth $568,092,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MA. Highline Wealth Partners LLC bought a new position in Mastercard during the third quarter worth $25,000. Palisade Asset Management LLC acquired a new stake in Mastercard in the first quarter worth $27,000. Strategic Investment Solutions Inc. IL acquired a new stake in Mastercard in the second quarter worth $34,000. Fairway Wealth LLC acquired a new stake in Mastercard in the second quarter worth $35,000. Finally, Lowe Wealth Advisors LLC increased its position in Mastercard by 74.0% in the third quarter. Lowe Wealth Advisors LLC now owns 87 shares of the credit services provider’s stock worth $43,000 after buying an additional 37 shares during the period. 97.28% of the stock is currently owned by institutional investors.

Mastercard Trading Down 2.8 %

Shares of MA opened at $499.08 on Friday. The business’s 50-day moving average price is $494.93 and its 200 day moving average price is $466.50. The stock has a market capitalization of $461.07 billion, a P/E ratio of 38.16, a P/E/G ratio of 2.27 and a beta of 1.10. Mastercard Incorporated has a 1-year low of $373.11 and a 1-year high of $527.90. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.95.

Mastercard (NYSE:MA) last issued its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $6.85 billion. Mastercard had a return on equity of 179.78% and a net margin of 46.45%. Analysts expect that Mastercard Incorporated will post 14.33 earnings per share for the current year.

Mastercard Announces Dividend

The business also recently declared 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 of this dividend is Wednesday, October 9th. This represents a $2.64 dividend on an annualized basis and a yield of 0.53%. Mastercard’s dividend payout ratio is currently 20.18%.

Insider Buying and Selling

In related news, CFO J. Mehra Sachin sold 13,439 shares of Mastercard stock in a transaction dated 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 approximately $12,423,320. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Mastercard news, CFO J. Mehra Sachin sold 13,439 shares of Mastercard stock in a transaction dated 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 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Foundation Mastercard sold 109,000 shares of Mastercard stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $467.45, for a total value of $50,952,050.00. Following the transaction, the insider now directly owns 91,924,308 shares in the company, valued at approximately $42,970,017,774.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 340,809 shares of company stock valued at $159,610,703. 0.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on MA shares. Bank of America increased their target price on Mastercard from $480.00 to $509.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. BMO Capital Markets reissued an “outperform” rating and set a $520.00 price target on shares of Mastercard in a report on Wednesday, August 14th. TD Cowen lifted their price objective on shares of Mastercard from $532.00 to $533.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Argus upgraded shares of Mastercard to a “strong-buy” rating in a research note on Thursday, August 1st. Finally, Compass Point initiated coverage on shares of Mastercard in a research note on Wednesday, September 4th. They set a “neutral” rating and a $525.00 price objective on the stock. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, 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.