Wallington Asset Management LLC Purchases New Position in Mastercard Incorporated (NYSE:MA)

Wallington Asset Management LLC purchased a new stake in shares of Mastercard Incorporated (NYSE:MA) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 509 shares of the credit services provider’s stock, valued at approximately $251,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Mastercard by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 75,584,606 shares of the credit services provider’s stock valued at $36,399,279,000 after purchasing an additional 330,872 shares during the last quarter. Capital Research Global Investors grew its holdings in shares of Mastercard by 0.3% during the 1st quarter. Capital Research Global Investors now owns 13,651,904 shares of the credit services provider’s stock valued at $6,574,347,000 after purchasing an additional 43,881 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Mastercard by 1.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,082,729 shares of the credit services provider’s stock valued at $2,241,297,000 after purchasing an additional 71,569 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Mastercard by 2.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 4,327,168 shares of the credit services provider’s stock valued at $1,908,973,000 after purchasing an additional 113,238 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in Mastercard by 0.9% during the 2nd quarter. American Century Companies Inc. now owns 4,250,760 shares of the credit services provider’s stock worth $1,875,266,000 after acquiring an additional 38,380 shares during the last quarter. 97.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MA. Compass Point began coverage on shares of Mastercard in a report on Wednesday, September 4th. They set a “neutral” rating and a $525.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on shares of Mastercard from $570.00 to $593.00 and gave the stock an “overweight” rating in a report on Monday. Barclays boosted their target price on shares of Mastercard from $536.00 to $576.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. BNP Paribas lowered shares of Mastercard from an “outperform” rating to a “neutral” rating and set a $470.00 target price on the stock. in a report on Tuesday, September 3rd. Finally, KeyCorp boosted their target price on shares of Mastercard from $490.00 to $515.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $525.68.

Mastercard Stock Up 0.1 %

Mastercard stock opened at $513.73 on Thursday. Mastercard Incorporated has a 1-year low of $359.77 and a 1-year high of $518.82. The firm has a market capitalization of $477.57 billion, a price-to-earnings ratio of 40.84, a price-to-earnings-growth ratio of 2.22 and a beta of 1.10. The firm’s fifty day moving average price is $490.23 and its two-hundred day moving average price is $464.93. 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 released 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. Mastercard had a net margin of 46.45% and a return on equity of 179.78%. The firm had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.85 billion. On average, equities research analysts predict that Mastercard Incorporated will post 14.3 earnings per share for the current fiscal year.

Mastercard Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders 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 dividend yield of 0.51%. The ex-dividend date of this dividend is Wednesday, October 9th. Mastercard’s dividend payout ratio (DPR) is 20.99%.

Insider Buying and Selling at Mastercard

In other news, major shareholder Foundation Mastercard sold 119,000 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $468.46, for a total value of $55,746,740.00. Following the completion of the sale, the insider now owns 92,033,308 shares in the company, valued at $43,113,923,465.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO J. Mehra Sachin sold 13,439 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $455.00, for a total value of $6,114,745.00. Following the completion of the sale, the chief financial officer now owns 27,304 shares in the company, valued at $12,423,320. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Foundation Mastercard sold 119,000 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $468.46, for a total transaction of $55,746,740.00. Following the completion of the sale, the insider now owns 92,033,308 shares of the company’s stock, valued at approximately $43,113,923,465.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 340,809 shares of company stock valued at $159,610,703. Corporate insiders own 0.10% of the company’s stock.

Mastercard Profile

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.