Hemington Wealth Management Sells 311 Shares of Mastercard Incorporated (NYSE:MA)

Hemington Wealth Management trimmed its position in Mastercard Incorporated (NYSE:MA) by 13.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,933 shares of the credit services provider’s stock after selling 311 shares during the period. Hemington Wealth Management’s holdings in Mastercard were worth $932,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. McClarren Financial Advisors Inc. raised its position in shares of Mastercard by 37.7% in the first quarter. McClarren Financial Advisors Inc. now owns 482 shares of the credit services provider’s stock valued at $232,000 after buying an additional 132 shares in the last quarter. Coulter & Justus Financial Services LLC acquired a new position in Mastercard in the 1st quarter valued at $331,000. DAVENPORT & Co LLC lifted its position in shares of Mastercard by 0.4% during the 1st quarter. DAVENPORT & Co LLC now owns 303,795 shares of the credit services provider’s stock valued at $145,871,000 after acquiring an additional 1,077 shares during the period. Team Hewins LLC grew its holdings in shares of Mastercard by 0.8% during the 1st quarter. Team Hewins LLC now owns 7,382 shares of the credit services provider’s stock worth $3,555,000 after purchasing an additional 57 shares in the last quarter. Finally, Commonwealth Retirement Investments LLC increased its position in shares of Mastercard by 3.2% in the first quarter. Commonwealth Retirement Investments LLC now owns 2,710 shares of the credit services provider’s stock worth $1,305,000 after purchasing an additional 85 shares during the period. 97.28% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Mastercard news, major shareholder Foundation Mastercard sold 110,000 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $441.43, for a total transaction of $48,557,300.00. Following the completion of the sale, the insider now directly owns 94,014,308 shares in the company, valued at approximately $41,500,735,980.44. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Mastercard news, insider Sandra A. Arkell sold 300 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $454.00, for a total transaction of $136,200.00. Following the sale, the insider now owns 3,463 shares in the company, valued at approximately $1,572,202. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Foundation Mastercard sold 110,000 shares of Mastercard stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $441.43, for a total transaction of $48,557,300.00. Following the transaction, the insider now owns 94,014,308 shares in the company, valued at approximately $41,500,735,980.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,163,228 shares of company stock valued at $1,428,540,870. 0.10% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on MA. Mizuho reduced their price target on shares of Mastercard from $480.00 to $478.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Susquehanna restated a “positive” rating and set a $535.00 price target on shares of Mastercard in a report on Wednesday, April 3rd. Robert W. Baird upped their target price on Mastercard from $525.00 to $545.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. Morgan Stanley dropped their price objective on Mastercard from $536.00 to $524.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. Finally, JPMorgan Chase & Co. cut their price target on shares of Mastercard from $520.00 to $510.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $498.57.

Mastercard Trading Up 0.6 %

Shares of MA traded up $2.74 during mid-day trading on Thursday, hitting $436.38. 4,032,569 shares of the company’s stock traded hands, compared to its average volume of 2,484,578. The firm has a market capitalization of $405.67 billion, a P/E ratio of 34.45, a PEG ratio of 1.74 and a beta of 1.09. The business’s 50-day moving average price is $449.41 and its 200-day moving average price is $454.32. Mastercard Incorporated has a 1 year low of $359.77 and a 1 year high of $490.00. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.86.

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

Mastercard Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $2.64 annualized dividend and a yield of 0.60%. Mastercard’s payout ratio is 20.99%.

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.