Truist Financial Corp Sells 2,541 Shares of Mastercard Incorporated (NYSE:MA)

Truist Financial Corp trimmed its holdings in shares of Mastercard Incorporated (NYSE:MA) by 0.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 277,776 shares of the credit services provider’s stock after selling 2,541 shares during the quarter. Truist Financial Corp’s holdings in Mastercard were worth $122,544,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Hoxton Planning & Management LLC grew its position in shares of Mastercard by 1.4% in the first quarter. Hoxton Planning & Management LLC now owns 1,637 shares of the credit services provider’s stock valued at $788,000 after purchasing an additional 22 shares during the period. Quilter Plc boosted its holdings in Mastercard by 2.8% in the 2nd quarter. Quilter Plc now owns 801 shares of the credit services provider’s stock worth $353,000 after buying an additional 22 shares during the last quarter. Benin Management CORP increased its stake in Mastercard by 3.0% during the 1st quarter. Benin Management CORP now owns 794 shares of the credit services provider’s stock worth $382,000 after buying an additional 23 shares in the last quarter. Atticus Wealth Management LLC raised its holdings in shares of Mastercard by 1.3% during the first quarter. Atticus Wealth Management LLC now owns 1,734 shares of the credit services provider’s stock valued at $835,000 after acquiring an additional 23 shares during the last quarter. Finally, Strategic Advisors LLC lifted its position in shares of Mastercard by 0.3% in the first quarter. Strategic Advisors LLC now owns 6,881 shares of the credit services provider’s stock valued at $3,314,000 after acquiring an additional 23 shares in the last quarter. 97.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Mastercard

In other Mastercard news, CMO Venkata R. Madabhushi sold 4,685 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $8,440,885.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, major shareholder Foundation Mastercard sold 90,000 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $468.80, for a total value of $42,192,000.00. Following the transaction, the insider now owns 91,649,308 shares of the company’s stock, valued at $42,965,195,590.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 sale, the chief marketing officer now owns 17,118 shares in the company, valued at $8,440,885.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 340,809 shares of company stock worth $159,610,703. Company insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on MA. Barclays increased their price objective on Mastercard from $530.00 to $536.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. BMO Capital Markets reiterated an “outperform” rating and issued a $520.00 target price on shares of Mastercard in a research report on Wednesday, August 14th. BNP Paribas lowered shares of Mastercard from an “outperform” rating to a “neutral” rating and set a $470.00 price target on the stock. in a research report on Tuesday, September 3rd. Susquehanna increased their price objective on shares of Mastercard from $535.00 to $540.00 and gave the company a “positive” rating in a report on Thursday, August 1st. Finally, Compass Point started coverage on shares of Mastercard in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $525.00 target price on the stock. Five analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, Mastercard has a consensus rating of “Moderate Buy” and a consensus target price of $513.70.

Mastercard Price Performance

MA opened at $493.80 on Tuesday. The firm has a market cap of $459.04 billion, a price-to-earnings ratio of 39.25, a PEG ratio of 1.96 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. The stock’s 50-day moving average price is $471.70 and its 200 day moving average price is $461.86. Mastercard Incorporated has a 12-month low of $359.77 and a 12-month high of $501.80.

Mastercard (NYSE:MA) last announced its quarterly earnings data 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 firm had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $6.85 billion. Mastercard had a net margin of 46.45% and a return on equity of 179.78%. As a group, sell-side analysts expect that Mastercard Incorporated will post 14.29 earnings per share for the current year.

Mastercard Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th will be paid a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Wednesday, October 9th. Mastercard’s payout ratio is currently 20.99%.

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.