Holderness Investments Co. Sells 65 Shares of Mastercard Incorporated (NYSE:MA)

Holderness Investments Co. lessened its holdings in Mastercard Incorporated (NYSE:MA) by 1.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,099 shares of the credit services provider’s stock after selling 65 shares during the period. Holderness Investments Co.’s holdings in Mastercard were worth $2,690,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in MA. ProShare Advisors LLC raised its position in shares of Mastercard by 2.7% in the second quarter. ProShare Advisors LLC now owns 185,523 shares of the credit services provider’s stock valued at $81,845,000 after purchasing an additional 4,814 shares during the period. Kowal Investment Group LLC boosted its holdings in shares of Mastercard by 4.4% during the 2nd quarter. Kowal Investment Group LLC now owns 666 shares of the credit services provider’s stock worth $294,000 after buying an additional 28 shares during the period. Symmetry Investments LP raised its holdings in Mastercard by 20.0% in the 2nd quarter. Symmetry Investments LP now owns 9,600 shares of the credit services provider’s stock valued at $4,235,000 after acquiring an additional 1,600 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its position in Mastercard by 15.0% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 39,540 shares of the credit services provider’s stock worth $17,444,000 after acquiring an additional 5,160 shares during the last quarter. Finally, Legacy Financial Advisors Inc. boosted its holdings in shares of Mastercard by 1.5% during the second quarter. Legacy Financial Advisors Inc. now owns 3,917 shares of the credit services provider’s stock worth $1,728,000 after acquiring an additional 57 shares during the period. Institutional investors and hedge funds own 97.28% of the company’s stock.

Mastercard Price Performance

Shares of MA opened at $492.74 on Friday. 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 cap of $458.06 billion, a PE ratio of 39.17, a PEG ratio of 1.92 and a beta of 1.10. Mastercard Incorporated has a 12-month low of $359.77 and a 12-month high of $501.80. The business has a 50-day simple moving average of $466.24 and a two-hundred day simple moving average of $461.11.

Mastercard (NYSE:MA) last released its quarterly earnings data on Wednesday, July 31st. The credit services provider reported $3.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.51 by $0.08. The company 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%. Analysts anticipate that Mastercard Incorporated will post 14.29 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th will be issued a dividend of $0.66 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.54%. Mastercard’s dividend payout ratio (DPR) is presently 20.99%.

Insider Buying and Selling

In related news, CMO Venkata R. Madabhushi sold 4,685 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $493.10, for a total transaction of $2,310,173.50. Following the completion of the transaction, the chief marketing officer now directly owns 17,118 shares of the company’s stock, valued at approximately $8,440,885.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO J. Mehra Sachin sold 13,439 shares of the company’s stock in a transaction on 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 sale, the chief financial officer now directly owns 27,304 shares of the company’s stock, valued at approximately $12,423,320. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CMO Venkata R. Madabhushi sold 4,685 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $493.10, for a total transaction of $2,310,173.50. Following the sale, the chief marketing officer now owns 17,118 shares of the company’s stock, valued at $8,440,885.80. The disclosure for this sale can be found here. Insiders have sold a total of 605,124 shares of company stock valued at $280,045,189 over the last 90 days. 0.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

MA has been the topic of a number of recent research reports. Evercore ISI lowered their target price on Mastercard from $540.00 to $525.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Argus upgraded Mastercard to a “strong-buy” rating in a research report on Thursday, August 1st. TD Cowen boosted their target price on shares of Mastercard from $532.00 to $533.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. KeyCorp raised their price target on shares of Mastercard from $490.00 to $515.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, Compass Point initiated coverage on shares of Mastercard in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $525.00 price objective for the company. Five research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, Mastercard currently has an average rating of “Moderate Buy” and a consensus price target of $512.08.

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.