New York Life Investment Management LLC Raises Position in Mastercard Incorporated (NYSE:MA)

New York Life Investment Management LLC lifted its position in shares of Mastercard Incorporated (NYSE:MA) by 0.6% during the second quarter, HoldingsChannel reports. The fund owned 125,770 shares of the credit services provider’s stock after acquiring an additional 688 shares during the quarter. Mastercard comprises 0.6% of New York Life Investment Management LLC’s holdings, making the stock its 29th biggest position. New York Life Investment Management LLC’s holdings in Mastercard were worth $55,485,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Westend Capital Management LLC acquired a new position in Mastercard during the 1st quarter worth approximately $27,000. Palisade Asset Management LLC purchased a new stake in shares of Mastercard in the first quarter valued at approximately $27,000. VitalStone Financial LLC grew its holdings in Mastercard by 300.0% during the fourth quarter. VitalStone Financial LLC now owns 60 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 45 shares during the period. Scarborough Advisors LLC purchased a new position in Mastercard in the fourth quarter worth $28,000. Finally, Beaird Harris Wealth Management LLC acquired a new stake in Mastercard in the fourth quarter valued at $30,000. 97.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Mastercard

In other Mastercard news, major shareholder Foundation Mastercard sold 90,000 shares of Mastercard stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $468.80, for a total value of $42,192,000.00. Following the transaction, the insider now owns 91,649,308 shares in the company, valued at approximately $42,965,195,590.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, major shareholder Foundation Mastercard sold 90,000 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $468.80, for a total value of $42,192,000.00. Following the transaction, the insider now directly owns 91,649,308 shares of the company’s stock, valued at approximately $42,965,195,590.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO J. Mehra Sachin sold 13,439 shares of Mastercard stock in a transaction 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 completion of the transaction, the chief financial officer now owns 27,304 shares in the company, valued at approximately $12,423,320. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,167,931 shares of company stock worth $531,284,982. 0.10% of the stock is owned by company insiders.

Mastercard Stock Down 0.2 %

Shares of NYSE:MA opened at $476.28 on Friday. Mastercard Incorporated has a 12-month low of $359.77 and a 12-month high of $490.00. The stock’s 50-day moving average price is $456.26 and its two-hundred day moving average price is $459.59. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.95. The firm has a market cap of $442.76 billion, a price-to-earnings ratio of 37.86, a PEG ratio of 1.90 and a beta of 1.10.

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 issued a $0.66 dividend. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $2.64 dividend on an annualized basis and a yield of 0.55%. Mastercard’s payout ratio is 20.99%.

Analyst Upgrades and Downgrades

MA has been the subject of a number of research analyst reports. BMO Capital Markets reiterated an “outperform” rating and issued a $520.00 price target on shares of Mastercard in a report on Wednesday, August 14th. Susquehanna increased their target price on shares of Mastercard from $535.00 to $540.00 and gave the company a “positive” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. boosted their price target on Mastercard from $500.00 to $570.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. KeyCorp raised their price objective on Mastercard from $490.00 to $515.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, BNP Paribas downgraded Mastercard from an “outperform” rating to a “neutral” rating and set a $470.00 target price on the stock. in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, Mastercard has a consensus rating of “Moderate Buy” and a consensus price target of $510.88.

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.