Chesapeake Wealth Management Sells 79 Shares of Mastercard Incorporated (NYSE:MA)

Chesapeake Wealth Management cut its stake in Mastercard Incorporated (NYSE:MA) by 2.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,761 shares of the credit services provider’s stock after selling 79 shares during the quarter. Chesapeake Wealth Management’s holdings in Mastercard were worth $1,218,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of MA. Swedbank AB bought a new position in Mastercard during the 1st quarter valued at about $660,652,000. PineStone Asset Management Inc. boosted its position in shares of Mastercard by 145.6% during the second quarter. PineStone Asset Management Inc. now owns 1,777,468 shares of the credit services provider’s stock valued at $784,148,000 after buying an additional 1,053,616 shares during the period. Vanguard Group Inc. grew its stake in shares of Mastercard by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 75,253,734 shares of the credit services provider’s stock valued at $32,096,470,000 after buying an additional 742,076 shares during the last quarter. Capital International Investors grew its stake in shares of Mastercard by 3.3% during the fourth quarter. Capital International Investors now owns 21,041,685 shares of the credit services provider’s stock valued at $8,974,478,000 after buying an additional 676,452 shares during the last quarter. Finally, Capital Research Global Investors raised its holdings in shares of Mastercard by 4.7% in the fourth quarter. Capital Research Global Investors now owns 13,608,023 shares of the credit services provider’s stock worth $5,803,956,000 after buying an additional 605,909 shares during the period. 97.28% of the stock is owned by hedge funds and other institutional investors.

Mastercard Price Performance

NYSE MA opened at $492.63 on Friday. Mastercard Incorporated has a 12-month low of $359.77 and a 12-month high of $501.80. The firm’s fifty day simple moving average is $466.24 and its two-hundred day simple moving average is $461.15. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.95. The firm has a market capitalization of $457.96 billion, a P/E ratio of 39.16, a P/E/G ratio of 1.92 and a beta of 1.10.

Mastercard (NYSE:MA) last announced its earnings results 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 for the quarter, compared to analyst estimates of $6.85 billion. Mastercard had a return on equity of 179.78% and a net margin of 46.45%. Analysts forecast that Mastercard Incorporated will post 14.29 EPS for the current fiscal year.

Mastercard Dividend Announcement

The business also recently announced 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. This represents a $2.64 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date is Wednesday, October 9th. Mastercard’s dividend payout ratio (DPR) is presently 20.99%.

Insiders Place Their Bets

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 shares were sold at an average price of $493.10, for a total value of $2,310,173.50. Following the completion of the transaction, 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 SEC, which is available at this link. In other news, CMO Venkata R. Madabhushi sold 4,685 shares of the stock in a transaction dated 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 transaction, the chief marketing officer now directly owns 17,118 shares of the company’s stock, valued at $8,440,885.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 sale, the chief financial officer now directly owns 27,304 shares of the company’s stock, valued at approximately $12,423,320. The disclosure for this sale can be found here. In the last quarter, insiders have sold 605,124 shares of company stock valued at $280,045,189. Insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on MA shares. William Blair raised Mastercard to a “strong-buy” rating in a research report on Wednesday, July 31st. Piper Sandler upped their price target on shares of Mastercard from $531.00 to $536.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. BNP Paribas downgraded shares of Mastercard from an “outperform” rating to a “neutral” rating and set a $470.00 price target on the stock. in a research note on Tuesday, September 3rd. Compass Point began coverage on shares of Mastercard in a research report on Wednesday, September 4th. They issued a “neutral” rating and a $525.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their target price on shares of Mastercard from $500.00 to $570.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Five equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $512.08.

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.