Gallacher Capital Management LLC Raises Stock Position in Mastercard Incorporated (NYSE:MA)

Gallacher Capital Management LLC boosted its stake in shares of Mastercard Incorporated (NYSE:MA) by 276.1% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 1,779 shares of the credit services provider’s stock after acquiring an additional 1,306 shares during the period. Gallacher Capital Management LLC’s holdings in Mastercard were worth $785,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MA. Norges Bank purchased a new position in Mastercard in the 4th quarter valued at $4,595,559,000. Swedbank AB acquired a new stake in shares of Mastercard in the first quarter valued at about $660,652,000. PineStone Asset Management Inc. raised its position in shares of Mastercard by 145.6% in 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 last quarter. Vanguard Group Inc. lifted its stake in shares of 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 buying an additional 742,076 shares in the last quarter. Finally, Capital International Investors boosted its position in Mastercard by 3.3% during the fourth 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 during the last quarter. 97.28% of the stock is owned by hedge funds and other institutional investors.

Mastercard Trading Down 0.3 %

Shares of MA stock opened at $476.12 on Friday. Mastercard Incorporated has a fifty-two week low of $359.77 and a fifty-two week high of $490.00. The company has a 50 day moving average price of $456.26 and a 200 day moving average price of $459.65. The stock has a market capitalization of $442.61 billion, a P/E ratio of 37.85, a price-to-earnings-growth ratio of 1.90 and a beta of 1.10. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.14 and a current ratio of 1.14.

Mastercard Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Tuesday, July 9th were paid a $0.66 dividend. The ex-dividend date was Tuesday, July 9th. This represents a $2.64 annualized dividend and a dividend yield of 0.55%. Mastercard’s dividend payout ratio (DPR) is 20.99%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. BMO Capital Markets reiterated an “outperform” rating and issued a $520.00 price objective on shares of Mastercard in a report on Wednesday, August 14th. JPMorgan Chase & Co. increased their price target on Mastercard from $500.00 to $570.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Compass Point started coverage on Mastercard in a research report on Wednesday. They set a “neutral” rating and a $525.00 price objective on the stock. Argus upgraded Mastercard to a “strong-buy” rating in a report on Thursday, August 1st. Finally, Bank of America lowered Mastercard from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $505.00 to $480.00 in a report on Wednesday, July 10th. Five research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Mastercard presently has a consensus rating of “Moderate Buy” and an average price target of $510.88.

Insider Transactions at Mastercard

In related news, major shareholder Foundation Mastercard sold 138,000 shares of Mastercard stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $453.19, for a total value of $62,540,220.00. Following the completion of the transaction, the insider now directly 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 SEC, which is available at the SEC website. In other Mastercard 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 value of $62,540,220.00. Following the sale, the insider now owns 92,152,308 shares of the company’s stock, valued at approximately $41,762,504,462.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO J. Mehra Sachin sold 13,439 shares of the business’s 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 transaction, the chief financial officer now directly owns 27,304 shares of the company’s stock, valued at $12,423,320. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,167,931 shares of company stock valued at $531,284,982. 0.10% of the stock is currently owned by company insiders.

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.