Canoe Financial LP Sells 311,650 Shares of Mastercard Incorporated (NYSE:MA)

Canoe Financial LP decreased its position in Mastercard Incorporated (NYSE:MA) by 85.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 51,946 shares of the credit services provider’s stock after selling 311,650 shares during the quarter. Canoe Financial LP’s holdings in Mastercard were worth $25,643,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Palisade Asset Management LLC bought a new position in Mastercard in the first quarter valued at about $27,000. Strategic Investment Solutions Inc. IL purchased a new stake in Mastercard in the second quarter worth about $34,000. Fairway Wealth LLC purchased a new stake in Mastercard in the second quarter worth about $35,000. Lowe Wealth Advisors LLC increased its position in Mastercard by 74.0% in the third quarter. Lowe Wealth Advisors LLC now owns 87 shares of the credit services provider’s stock worth $43,000 after buying an additional 37 shares in the last quarter. Finally, VitalStone Financial LLC increased its position in Mastercard by 55.0% in the first quarter. VitalStone Financial LLC now owns 93 shares of the credit services provider’s stock worth $45,000 after buying an additional 33 shares in the last quarter. Institutional investors own 97.28% of the company’s stock.

Mastercard Trading Down 0.6 %

MA opened at $507.36 on Monday. The stock’s fifty day moving average is $491.84 and its two-hundred day moving average is $465.36. The company has a market capitalization of $471.65 billion, a P/E ratio of 40.33, a PEG ratio of 2.27 and a beta of 1.10. Mastercard Incorporated has a 52 week low of $359.77 and a 52 week high of $518.82. The company has a quick ratio of 1.14, a current 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 EPS for the quarter, topping the consensus estimate of $3.51 by $0.08. The company had revenue of $6.96 billion for the quarter, compared to the consensus estimate 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 14.32 earnings per share for the current year.

Mastercard Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th will be issued a $0.66 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.52%. Mastercard’s dividend payout ratio is presently 20.99%.

Insider Transactions at Mastercard

In other news, CMO Venkata R. Madabhushi sold 4,685 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $489.86, for a total value of $2,294,994.10. Following the completion of the transaction, the chief marketing officer now directly owns 15,031 shares of the company’s stock, valued at approximately $7,363,085.66. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CMO Venkata R. Madabhushi sold 4,685 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $489.86, for a total value of $2,294,994.10. Following the completion of the sale, the chief marketing officer now owns 15,031 shares of the company’s stock, valued at $7,363,085.66. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO J. Mehra Sachin sold 13,439 shares of the company’s 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 transaction, the chief financial officer now directly 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 disclosure for this sale can be found here. In the last three months, insiders sold 340,809 shares of company stock valued at $159,610,703. Corporate insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Barclays upped their price target on Mastercard from $536.00 to $576.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Susquehanna upped their price target on Mastercard from $535.00 to $540.00 and gave the stock a “positive” rating in a research report on Thursday, August 1st. Bank of America upped their price target on Mastercard from $480.00 to $509.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. Citigroup increased their target price on Mastercard from $528.00 to $538.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Robert W. Baird increased their target price on Mastercard from $545.00 to $575.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $525.68.

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.