Olstein Capital Management L.P. Sells 1,407 Shares of Mastercard Incorporated (NYSE:MA)

Olstein Capital Management L.P. lowered its stake in Mastercard Incorporated (NYSE:MA) by 21.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,093 shares of the credit services provider’s stock after selling 1,407 shares during the period. Olstein Capital Management L.P.’s holdings in Mastercard were worth $2,453,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Mastercard by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 75,253,734 shares of the credit services provider’s stock worth $32,096,470,000 after purchasing an additional 742,076 shares in the last quarter. Capital International Investors increased its stake in shares of Mastercard by 3.3% in the 4th quarter. Capital International Investors now owns 21,041,685 shares of the credit services provider’s stock worth $8,974,478,000 after acquiring an additional 676,452 shares in the last quarter. Capital Research Global Investors lifted its position in Mastercard by 4.7% during the 4th quarter. Capital Research Global Investors now owns 13,608,023 shares of the credit services provider’s stock valued at $5,803,956,000 after acquiring an additional 605,909 shares during the period. Norges Bank bought a new stake in Mastercard during the fourth quarter worth about $4,595,559,000. Finally, Ameriprise Financial Inc. grew its holdings in Mastercard by 5.9% in the third quarter. Ameriprise Financial Inc. now owns 5,510,259 shares of the credit services provider’s stock worth $2,181,964,000 after purchasing an additional 306,663 shares during the period. 97.28% of the stock is owned by hedge funds and other institutional investors.

Mastercard Stock Performance

Shares of Mastercard stock traded up $3.53 on Wednesday, hitting $448.18. 3,192,350 shares of the company’s stock were exchanged, compared to its average volume of 2,468,814. Mastercard Incorporated has a 1 year low of $359.77 and a 1 year high of $490.00. The company has a 50-day simple moving average of $450.76 and a 200-day simple moving average of $453.63. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a market capitalization of $416.63 billion, a PE ratio of 35.61, a PEG ratio of 1.72 and a beta of 1.09.

Mastercard (NYSE:MA) last released its earnings results on Wednesday, May 1st. The credit services provider reported $3.31 earnings per share for the quarter, beating the consensus estimate of $3.22 by $0.09. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.34 billion. Mastercard had a return on equity of 183.70% and a net margin of 46.09%. Mastercard’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.80 earnings per share. As a group, equities analysts anticipate that Mastercard Incorporated will post 14.26 EPS for the current year.

Mastercard Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Tuesday, July 9th will be issued a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 0.59%. The ex-dividend date is Tuesday, July 9th. Mastercard’s dividend payout ratio is 20.99%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Piper Sandler began coverage on shares of Mastercard in a report on Monday, May 13th. They set an “overweight” rating and a $531.00 target price for the company. Susquehanna reissued a “positive” rating and issued a $535.00 target price on shares of Mastercard in a report on Wednesday, April 3rd. Morgan Stanley reduced their price target on Mastercard from $536.00 to $524.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Barclays dropped their price target on shares of Mastercard from $549.00 to $530.00 and set an “overweight” rating on the stock in a research note on Monday, May 6th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Mastercard from $520.00 to $510.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Two research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $496.91.

Insiders Place Their Bets

In other news, major shareholder Foundation Mastercard sold 138,000 shares of the 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 sale, the insider now directly owns 92,152,308 shares of the company’s stock, valued at $41,762,504,462.52. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, major shareholder Foundation Mastercard sold 138,000 shares of the 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 completion of the sale, the insider now owns 92,152,308 shares in the company, valued at $41,762,504,462.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Hai Ling sold 2,892 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $460.00, for a total value of $1,330,320.00. Following the completion of the transaction, the insider now directly owns 21,420 shares in the company, valued at $9,853,200. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,163,228 shares of company stock worth $1,428,540,870. Company 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.