Kentucky Retirement Systems Sells 788 Shares of Mastercard Incorporated (NYSE:MA)

Kentucky Retirement Systems reduced its position in Mastercard Incorporated (NYSE:MA) by 1.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,867 shares of the credit services provider’s stock after selling 788 shares during the quarter. Mastercard makes up about 0.8% of Kentucky Retirement Systems’ investment portfolio, making the stock its 18th largest holding. Kentucky Retirement Systems’ holdings in Mastercard were worth $27,293,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. VitalStone Financial LLC boosted its stake in Mastercard by 300.0% in the 4th quarter. VitalStone Financial LLC now owns 60 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 45 shares during the period. Westend Capital Management LLC purchased a new position in shares of Mastercard in the first quarter worth $27,000. Palisade Asset Management LLC bought a new position in shares of Mastercard during the first quarter worth $27,000. Scarborough Advisors LLC bought a new position in shares of Mastercard during the 4th quarter valued at about $28,000. Finally, Beaird Harris Wealth Management LLC purchased a new position in shares of Mastercard during the fourth quarter valued at about $30,000. 97.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MA. William Blair upgraded Mastercard to a “strong-buy” rating in a research report on Wednesday, July 31st. BNP Paribas cut shares of Mastercard from an “outperform” rating to a “neutral” rating and set a $470.00 price target on the stock. in a report on Tuesday, September 3rd. Argus raised Mastercard to a “strong-buy” rating in a research report on Thursday, August 1st. Barclays lifted their price objective on Mastercard from $530.00 to $536.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Finally, JPMorgan Chase & Co. upped their target price on Mastercard from $500.00 to $570.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Five research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Mastercard presently has an average rating of “Moderate Buy” and a consensus target price of $512.08.

Mastercard Trading Down 1.2 %

MA stock opened at $494.76 on Thursday. The business’s 50-day moving average is $464.06 and its 200 day moving average is $460.76. Mastercard Incorporated has a 12-month low of $359.77 and a 12-month high of $501.80. The stock has a market cap of $459.94 billion, a price-to-earnings ratio of 39.33, a PEG ratio of 1.92 and a beta of 1.10. 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 (EPS) for the quarter, topping analysts’ consensus estimates of $3.51 by $0.08. Mastercard had a return on equity of 179.78% and a net margin of 46.45%. The firm had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.85 billion. On average, sell-side analysts anticipate that Mastercard Incorporated will post 14.29 EPS for the current fiscal year.

Mastercard Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders 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 0.53%. The ex-dividend date of this dividend is Wednesday, October 9th. Mastercard’s dividend payout ratio (DPR) is 20.99%.

Insider Transactions at Mastercard

In related news, CMO Venkata R. Madabhushi sold 4,685 shares of the company’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 approximately $8,440,885.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Mastercard 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 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. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO J. Mehra Sachin sold 13,439 shares of Mastercard stock in a transaction on 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 in the company, valued at approximately $12,423,320. The disclosure for this sale can be found here. Over the last three months, insiders have sold 605,124 shares of company stock valued at $280,045,189. Corporate insiders own 0.10% of the company’s stock.

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.