Fulton Bank N.A. Reduces Holdings in Mastercard Incorporated (NYSE:MA)

Fulton Bank N.A. cut its position in shares of Mastercard Incorporated (NYSE:MA) by 0.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,334 shares of the credit services provider’s stock after selling 58 shares during the quarter. Fulton Bank N.A.’s holdings in Mastercard were worth $15,473,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Waterloo Capital L.P. acquired a new stake in shares of Mastercard in the fourth quarter worth approximately $663,000. Elo Mutual Pension Insurance Co boosted its position in shares of Mastercard by 3.7% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 73,456 shares of the credit services provider’s stock worth $31,330,000 after acquiring an additional 2,627 shares during the last quarter. Sollinda Capital Management LLC acquired a new stake in shares of Mastercard in the fourth quarter worth approximately $405,000. Lighthouse Investment Partners LLC acquired a new stake in shares of Mastercard in the fourth quarter worth approximately $2,559,000. Finally, Unigestion Holding SA boosted its position in shares of Mastercard by 82.6% in the fourth quarter. Unigestion Holding SA now owns 74,635 shares of the credit services provider’s stock worth $31,833,000 after acquiring an additional 33,751 shares during the last quarter. 97.28% of the stock is currently owned by hedge funds and other institutional investors.

Mastercard Stock Down 1.3 %

Shares of MA traded down $6.40 during trading hours on Monday, reaching $491.30. The company’s stock had a trading volume of 1,990,301 shares, compared to its average volume of 2,454,886. The firm has a market cap of $456.72 billion, a price-to-earnings ratio of 39.15, a P/E/G ratio of 1.96 and a beta of 1.10. Mastercard Incorporated has a 1-year low of $359.77 and a 1-year high of $501.80. 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 company has a 50 day moving average of $476.54 and a two-hundred day moving average of $462.27.

Mastercard (NYSE:MA) last issued its earnings results on Wednesday, July 31st. The credit services provider reported $3.59 earnings per share for the quarter, beating analysts’ consensus estimates of $3.51 by $0.08. The company had revenue of $6.96 billion for 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%. As a group, research analysts predict that Mastercard Incorporated will post 14.29 EPS 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 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 dividend payout ratio is currently 20.99%.

Insider Buying and Selling

In other Mastercard news, major shareholder Foundation Mastercard sold 119,000 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $43,113,923,465.68. 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, CMO Venkata R. Madabhushi sold 4,685 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $493.10, for a total value of $2,310,173.50. Following the completion of the sale, the chief marketing officer now directly owns 17,118 shares of the company’s stock, valued at approximately $8,440,885.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Foundation Mastercard sold 119,000 shares of the 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 sale, the insider now directly owns 92,033,308 shares of the company’s stock, valued at $43,113,923,465.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 340,809 shares of company stock worth $159,610,703. Insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on MA. Piper Sandler lifted their price target on shares of Mastercard from $531.00 to $536.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. BMO Capital Markets reissued an “outperform” rating and set a $520.00 target price on shares of Mastercard in a research report on Wednesday, August 14th. Compass Point began coverage on shares of Mastercard in a research report on Wednesday, September 4th. They set a “neutral” rating and a $525.00 target price on the stock. Oppenheimer began coverage on shares of Mastercard in a research report on Tuesday, October 1st. They set an “outperform” rating and a $591.00 target price on the stock. Finally, Royal Bank of Canada boosted their target price on shares of Mastercard from $500.00 to $526.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, Mastercard currently has an average rating of “Moderate Buy” and a consensus price target of $517.22.

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.