Oakworth Capital Inc. Lowers Holdings in Mastercard Incorporated (NYSE:MA)

Oakworth Capital Inc. trimmed its holdings in Mastercard Incorporated (NYSE:MA) by 18.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,203 shares of the credit services provider’s stock after selling 498 shares during the quarter. Oakworth Capital Inc.’s holdings in Mastercard were worth $1,088,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Swedbank AB purchased a new stake in shares of Mastercard during the 1st quarter worth about $660,652,000. PineStone Asset Management Inc. boosted its stake in shares of Mastercard by 145.6% during the 2nd quarter. PineStone Asset Management Inc. now owns 1,777,468 shares of the credit services provider’s stock worth $784,148,000 after acquiring an additional 1,053,616 shares in the last quarter. Manning & Napier Advisors LLC purchased a new stake in shares of Mastercard during the 2nd quarter worth about $259,071,000. Capital World Investors raised its position in shares of Mastercard by 13.3% during the 1st quarter. Capital World Investors now owns 3,293,617 shares of the credit services provider’s stock worth $1,586,107,000 after purchasing an additional 387,317 shares during the last quarter. Finally, Lone Pine Capital LLC raised its position in shares of Mastercard by 53.4% during the 2nd quarter. Lone Pine Capital LLC now owns 1,043,557 shares of the credit services provider’s stock worth $460,376,000 after purchasing an additional 363,133 shares during the last quarter. 97.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on MA shares. Argus upgraded shares of Mastercard to a “strong-buy” rating in a research report on Thursday, August 1st. KeyCorp upped their price target on shares of Mastercard from $490.00 to $515.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Barclays upped their price target on shares of Mastercard from $536.00 to $576.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Citigroup upped their price target on shares of Mastercard from $528.00 to $538.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, TD Cowen upped their price target on shares of Mastercard from $532.00 to $533.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $525.68.

Mastercard Stock Down 0.3 %

Shares of NYSE MA opened at $515.01 on Tuesday. The company has a 50 day simple moving average of $488.09 and a 200-day simple moving average of $464.33. The company has a market capitalization of $478.76 billion, a P/E ratio of 40.94, a P/E/G ratio of 2.22 and a beta of 1.10. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.14 and a quick ratio of 1.14. Mastercard Incorporated has a 1 year low of $359.77 and a 1 year high of $518.82.

Mastercard (NYSE:MA) last announced its quarterly earnings results on Wednesday, July 31st. The credit services provider reported $3.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.51 by $0.08. The business had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.85 billion. Mastercard had a net margin of 46.45% and a return on equity of 179.78%. On average, equities research analysts predict that Mastercard Incorporated will post 14.3 earnings per share for the current year.

Mastercard Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Wednesday, October 9th will be given a dividend of $0.66 per share. The ex-dividend date is Wednesday, October 9th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.51%. Mastercard’s payout ratio is currently 20.99%.

Insider Buying and Selling

In related news, major shareholder Foundation Mastercard sold 119,000 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 92,033,308 shares of the company’s stock, valued at approximately $43,113,923,465.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Mastercard news, major shareholder Foundation Mastercard sold 119,000 shares of the business’s stock in a transaction on 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 transaction, the insider now owns 92,033,308 shares in the company, valued at $43,113,923,465.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO J. Mehra Sachin sold 13,439 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $455.00, for a total transaction of $6,114,745.00. Following the completion of the transaction, the chief financial officer now owns 27,304 shares of the company’s stock, valued at approximately $12,423,320. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 340,809 shares of company stock valued at $159,610,703. Company insiders own 0.10% of the company’s stock.

Mastercard Company 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.