Smithbridge Asset Management Inc. DE Decreases Stock Holdings in Mastercard Incorporated (NYSE:MA)

Smithbridge Asset Management Inc. DE lowered its position in shares of Mastercard Incorporated (NYSE:MA) by 14.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,690 shares of the credit services provider’s stock after selling 996 shares during the period. Smithbridge Asset Management Inc. DE’s holdings in Mastercard were worth $2,510,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC increased its holdings in Mastercard by 2.1% in the 4th quarter. International Assets Investment Management LLC now owns 6,885 shares of the credit services provider’s stock valued at $2,937,000 after purchasing an additional 141 shares during the last quarter. Patrick M Sweeney & Associates Inc. purchased a new position in Mastercard during the 4th quarter valued at about $451,000. TRUE Private Wealth Advisors grew its position in Mastercard by 2.4% in the 4th quarter. TRUE Private Wealth Advisors now owns 1,037 shares of the credit services provider’s stock valued at $442,000 after acquiring an additional 24 shares in the last quarter. Roman Butler Fullerton & Co. increased its stake in Mastercard by 3.5% during the fourth quarter. Roman Butler Fullerton & Co. now owns 17,316 shares of the credit services provider’s stock worth $7,593,000 after purchasing an additional 592 shares during the period. Finally, HF Advisory Group LLC lifted its position in shares of Mastercard by 8.7% during the fourth quarter. HF Advisory Group LLC now owns 3,032 shares of the credit services provider’s stock worth $1,293,000 after purchasing an additional 242 shares in the last quarter. Institutional investors and hedge funds own 97.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MA. Susquehanna increased their target price on shares of Mastercard from $535.00 to $540.00 and gave the stock a “positive” rating in a report on Thursday, August 1st. Barclays upped their price target on Mastercard from $530.00 to $536.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. BMO Capital Markets reiterated an “outperform” rating and issued a $520.00 price objective on shares of Mastercard in a research note on Wednesday. Piper Sandler raised their target price on shares of Mastercard from $531.00 to $536.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Morgan Stanley decreased their price objective on shares of Mastercard from $536.00 to $524.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $508.91.

Insider Buying and Selling

In related 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 transaction of $6,114,745.00. Following the completion of the transaction, the chief financial officer now directly owns 27,304 shares of the company’s stock, valued at $12,423,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Mastercard news, major shareholder Foundation Mastercard sold 108,000 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $457.21, for a total transaction of $49,378,680.00. Following the transaction, the insider now directly owns 94,863,308 shares in the company, valued at $43,372,453,050.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO J. Mehra Sachin sold 13,439 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $455.00, for a total transaction 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. The disclosure for this sale can be found here. Insiders sold 1,627,175 shares of company stock valued at $730,399,436 over the last ninety days. Corporate insiders own 0.10% of the company’s stock.

Mastercard Stock Performance

NYSE MA traded up $0.17 during trading hours on Friday, hitting $468.88. 1,922,047 shares of the stock were exchanged, compared to its average volume of 2,490,054. The company has a market cap of $435.88 billion, a price-to-earnings ratio of 37.27, a price-to-earnings-growth ratio of 1.82 and a beta of 1.09. Mastercard Incorporated has a 12-month low of $359.77 and a 12-month high of $490.00. The stock has a 50-day moving average of $448.57 and a 200 day moving average of $458.17. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 1.95.

Mastercard Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Tuesday, July 9th were issued a dividend of $0.66 per share. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $2.64 annualized dividend and a yield of 0.56%. Mastercard’s dividend payout ratio is currently 20.99%.

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.