Rockefeller Capital Management L.P. Cuts Stock Position in Mastercard Incorporated (NYSE:MA)

Rockefeller Capital Management L.P. decreased its holdings in shares of Mastercard Incorporated (NYSE:MA) by 2.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 164,401 shares of the credit services provider’s stock after selling 4,010 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Mastercard were worth $81,173,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. International Assets Investment Management LLC raised its stake in shares of Mastercard by 120,665.3% in the third quarter. International Assets Investment Management LLC now owns 8,041,758 shares of the credit services provider’s stock valued at $3,971,020,000 after acquiring an additional 8,035,099 shares during the period. Bank of Montreal Can boosted its position in shares of Mastercard by 51.7% during the third quarter. Bank of Montreal Can now owns 5,765,714 shares of the credit services provider’s stock valued at $2,846,187,000 after buying an additional 1,965,782 shares during the period. PineStone Asset Management Inc. grew its stake in shares of Mastercard by 145.6% during the second quarter. PineStone Asset Management Inc. now owns 1,777,468 shares of the credit services provider’s stock valued at $784,148,000 after buying an additional 1,053,616 shares during the last quarter. FMR LLC lifted its stake in shares of Mastercard by 3.4% during the 3rd quarter. FMR LLC now owns 21,355,081 shares of the credit services provider’s stock worth $10,545,139,000 after acquiring an additional 700,769 shares during the last quarter. Finally, Manning & Napier Advisors LLC purchased a new stake in shares of Mastercard during the second quarter valued at $259,071,000. 97.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MA. BMO Capital Markets raised their target price on shares of Mastercard from $550.00 to $565.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Susquehanna boosted their price objective on shares of Mastercard from $540.00 to $605.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Piper Sandler restated an “overweight” rating and issued a $575.00 target price (up from $565.00) on shares of Mastercard in a research note on Friday, November 15th. Barclays boosted their target price 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. Finally, Argus raised Mastercard to a “strong-buy” rating in a report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Mastercard has an average rating of “Moderate Buy” and a consensus price target of $549.16.

Insider Buying and Selling at Mastercard

In related news, CMO Venkata R. Madabhushi sold 4,685 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $489.86, for a total value of $2,294,994.10. Following the transaction, the chief marketing officer now directly owns 15,031 shares of the company’s stock, valued at $7,363,085.66. This trade represents a 23.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.10% of the company’s stock.

Mastercard Trading Up 0.7 %

MA opened at $532.38 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 2.36. The firm has a market cap of $488.63 billion, a P/E ratio of 40.27, a P/E/G ratio of 2.37 and a beta of 1.10. Mastercard Incorporated has a 52 week low of $404.32 and a 52 week high of $534.03. The business has a fifty day simple moving average of $509.57 and a 200-day simple moving average of $475.63.

Mastercard (NYSE:MA) last announced its earnings results on Thursday, October 31st. The credit services provider reported $3.89 earnings per share for the quarter, topping the consensus estimate of $3.73 by $0.16. Mastercard had a net margin of 45.26% and a return on equity of 178.27%. The firm had revenue of $7.37 billion for the quarter, compared to the consensus estimate of $7.27 billion. During the same period in the prior year, the firm earned $3.39 EPS. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, equities analysts expect that Mastercard Incorporated will post 14.47 earnings per share for the current year.

Mastercard Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Wednesday, October 9th were issued a $0.66 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $2.64 annualized dividend and a yield of 0.50%. Mastercard’s dividend payout ratio (DPR) is 19.97%.

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.