Steel Grove Capital Advisors LLC Sells 267 Shares of Mastercard Incorporated (NYSE:MA)

Steel Grove Capital Advisors LLC cut its position in shares of Mastercard Incorporated (NYSE:MA) by 14.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,545 shares of the credit services provider’s stock after selling 267 shares during the period. Steel Grove Capital Advisors LLC’s holdings in Mastercard were worth $682,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Mastercard by 0.4% in the first quarter. Vanguard Group Inc. now owns 75,584,606 shares of the credit services provider’s stock valued at $36,399,279,000 after purchasing an additional 330,872 shares in the last quarter. Capital International Investors grew its holdings in Mastercard by 3.3% during the 4th quarter. Capital International Investors now owns 21,041,685 shares of the credit services provider’s stock valued at $8,974,478,000 after purchasing an additional 676,452 shares during the last quarter. Capital Research Global Investors grew its holdings in Mastercard by 0.3% during 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 purchasing an additional 43,881 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in Mastercard by 2.7% during 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 purchasing an additional 113,238 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in Mastercard by 0.9% during 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 purchasing an additional 38,380 shares during the last quarter. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Compass Point assumed coverage on shares of Mastercard in a report on Wednesday, September 4th. They set a “neutral” rating and a $525.00 price target on the stock. Susquehanna upped their price target on shares of Mastercard from $535.00 to $540.00 and gave the company a “positive” rating in a report on Thursday, August 1st. Bank of America upped their price target on shares of Mastercard from $480.00 to $509.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. Citigroup upped their price target on shares of Mastercard from $528.00 to $538.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Barclays raised their target price on shares of Mastercard from $530.00 to $536.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Five investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Mastercard presently has a consensus rating of “Moderate Buy” and an average price target of $512.08.

Mastercard Trading Down 0.1 %

NYSE MA opened at $492.74 on Monday. The company has a market capitalization of $458.06 billion, a PE ratio of 39.17, a P/E/G ratio of 1.92 and a beta of 1.10. The company has a fifty day moving average of $466.24 and a 200 day moving average of $461.03. Mastercard Incorporated has a 1 year low of $359.77 and a 1 year high of $501.80. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.14 and a quick ratio of 1.14.

Mastercard (NYSE:MA) last posted its earnings results on Wednesday, July 31st. The credit services provider reported $3.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.51 by $0.08. Mastercard had a net margin of 46.45% and a return on equity of 179.78%. The company had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.85 billion. Research analysts forecast that Mastercard Incorporated will post 14.29 earnings per share for the current year.

Mastercard Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Wednesday, October 9th will be issued 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 0.54%. Mastercard’s payout ratio is 20.99%.

Insider Buying and Selling at Mastercard

In other Mastercard news, major shareholder Foundation Mastercard sold 138,000 shares of Mastercard stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $453.19, for a total value of $62,540,220.00. Following the completion of the transaction, the insider now owns 92,152,308 shares of the company’s stock, valued at $41,762,504,462.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CMO Venkata R. Madabhushi sold 4,685 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $493.10, for a total transaction of $2,310,173.50. Following the completion of the sale, the chief marketing officer now owns 17,118 shares of the company’s stock, valued at $8,440,885.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Foundation Mastercard sold 138,000 shares of the business’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $453.19, for a total transaction of $62,540,220.00. Following the sale, the insider now directly owns 92,152,308 shares of the company’s stock, valued at approximately $41,762,504,462.52. The disclosure for this sale can be found here. Over the last quarter, insiders sold 474,124 shares of company stock valued at $219,855,929. Corporate insiders own 0.10% of the company’s stock.

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.