Summit Global Investments Raises Holdings in Mastercard Incorporated (NYSE:MA)

Summit Global Investments grew its stake in shares of Mastercard Incorporated (NYSE:MA) by 4.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,253 shares of the credit services provider’s stock after purchasing an additional 560 shares during the quarter. Summit Global Investments’ holdings in Mastercard were worth $6,288,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in MA. Hoxton Planning & Management LLC raised its position in shares of Mastercard by 1.4% in the 1st quarter. Hoxton Planning & Management LLC now owns 1,637 shares of the credit services provider’s stock valued at $788,000 after purchasing an additional 22 shares during the last quarter. Carolinas Wealth Consulting LLC raised its holdings in shares of Mastercard by 5.0% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 484 shares of the credit services provider’s stock worth $206,000 after buying an additional 23 shares during the last quarter. Benin Management CORP lifted its stake in shares of Mastercard by 3.0% during the first quarter. Benin Management CORP now owns 794 shares of the credit services provider’s stock worth $382,000 after buying an additional 23 shares during the period. Atticus Wealth Management LLC increased its position in shares of Mastercard by 1.3% in the 1st quarter. Atticus Wealth Management LLC now owns 1,734 shares of the credit services provider’s stock valued at $835,000 after acquiring an additional 23 shares during the period. Finally, Strategic Advisors LLC increased its position in shares of Mastercard by 0.3% in the 1st quarter. Strategic Advisors LLC now owns 6,881 shares of the credit services provider’s stock valued at $3,314,000 after acquiring an additional 23 shares during the period. Institutional investors own 97.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Royal Bank of Canada lifted their price objective on shares of Mastercard from $500.00 to $526.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Argus raised shares of Mastercard to a “strong-buy” rating in a report on Thursday, August 1st. Susquehanna lifted their price objective on Mastercard from $535.00 to $540.00 and gave the company a “positive” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. boosted their price objective on Mastercard from $500.00 to $570.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Bank of America lowered Mastercard from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $505.00 to $480.00 in a report on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, Mastercard has an average rating of “Buy” and a consensus price target of $512.09.

Insiders Place Their Bets

In related news, insider Craig Vosburg sold 9,028 shares of Mastercard stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $447.28, for a total value of $4,038,043.84. Following the completion of the transaction, the insider now owns 58,940 shares in the company, valued at $26,362,683.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Mastercard news, 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 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Craig Vosburg sold 9,028 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $447.28, for a total transaction of $4,038,043.84. Following the sale, the insider now owns 58,940 shares of the company’s stock, valued at approximately $26,362,683.20. The disclosure for this sale can be found here. Insiders have sold a total of 1,747,175 shares of company stock worth $787,719,546 in the last quarter. 0.10% of the stock is owned by company insiders.

Mastercard Trading Up 0.5 %

Shares of MA stock traded up $2.14 on Tuesday, hitting $469.12. The stock had a trading volume of 1,763,348 shares, compared to its average volume of 2,480,517. The company’s 50 day moving average price is $449.32 and its 200-day moving average price is $458.33. Mastercard Incorporated has a 1 year low of $359.77 and a 1 year high of $490.00. The firm has a market capitalization of $436.10 billion, a P/E ratio of 37.29, a P/E/G ratio of 1.82 and a beta of 1.09. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.14 and a quick ratio of 1.09.

Mastercard Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Tuesday, July 9th were paid 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 payout ratio is 20.99%.

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.