New York State Common Retirement Fund Trims Stake in Mastercard Incorporated (NYSE:MA)

New York State Common Retirement Fund reduced its position in shares of Mastercard Incorporated (NYSE:MA) by 7.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,134,592 shares of the credit services provider’s stock after selling 92,592 shares during the quarter. Mastercard accounts for approximately 0.8% of New York State Common Retirement Fund’s investment portfolio, making the stock its 17th biggest holding. New York State Common Retirement Fund’s holdings in Mastercard were worth $560,262,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Highline Wealth Partners LLC acquired a new stake in shares of Mastercard during the third quarter valued at about $25,000. Palisade Asset Management LLC acquired a new stake in Mastercard in the first quarter valued at approximately $27,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Mastercard during the second quarter worth $34,000. Fairway Wealth LLC purchased a new stake in Mastercard during the second quarter worth approximately $35,000. Finally, Lowe Wealth Advisors LLC lifted its position in shares of Mastercard by 74.0% during the 3rd quarter. Lowe Wealth Advisors LLC now owns 87 shares of the credit services provider’s stock worth $43,000 after buying an additional 37 shares during the last quarter. 97.28% of the stock is owned by institutional investors and hedge funds.

Mastercard Trading Up 1.3 %

Shares of Mastercard stock traded up $6.34 on Friday, hitting $505.93. The stock had a trading volume of 416,870 shares, compared to its average volume of 2,434,459. The firm has a market capitalization of $467.40 billion, a P/E ratio of 38.44, a PEG ratio of 2.27 and a beta of 1.10. Mastercard Incorporated has a twelve month low of $378.48 and a twelve month high of $527.90. The stock has a 50 day moving average of $494.93 and a 200 day moving average of $466.50. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.14 and a current ratio of 1.14.

Mastercard (NYSE:MA) last posted its quarterly earnings results on Thursday, October 31st. The credit services provider reported $3.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.73 by $0.16. Mastercard had a return on equity of 179.78% and a net margin of 46.45%. The firm had revenue of $7.37 billion for the quarter, compared to analysts’ expectations of $7.27 billion. During the same period in the prior year, the business earned $3.39 EPS. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. Sell-side analysts expect that Mastercard Incorporated will post 14.33 earnings per share for the current fiscal year.

Mastercard Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Wednesday, October 9th will be given a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date is Wednesday, October 9th. Mastercard’s payout ratio is 20.18%.

Insider Activity at Mastercard

In other Mastercard news, major shareholder Foundation Mastercard sold 119,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $468.46, for a total value of $55,746,740.00. Following the completion of the transaction, the insider now owns 92,033,308 shares in the company, valued at $43,113,923,465.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CMO Venkata R. Madabhushi sold 4,685 shares of Mastercard 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 owns 15,031 shares in the company, valued at $7,363,085.66. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Foundation Mastercard sold 119,000 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $468.46, for a total value of $55,746,740.00. Following the completion of the sale, the insider now directly owns 92,033,308 shares of the company’s stock, valued at approximately $43,113,923,465.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 340,809 shares of company stock valued at $159,610,703. 0.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MA has been the topic of several research reports. TD Cowen raised their price objective on shares of Mastercard from $532.00 to $533.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Oppenheimer started coverage on shares of Mastercard in a report on Tuesday, October 1st. They issued an “outperform” rating and a $591.00 target price for the company. BMO Capital Markets reissued an “outperform” rating and issued a $520.00 price objective on shares of Mastercard in a research note on Wednesday, August 14th. JPMorgan Chase & Co. decreased their target price on shares of Mastercard from $593.00 to $580.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Susquehanna lifted their target price on Mastercard from $535.00 to $540.00 and gave the company a “positive” rating in a report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $529.36.

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.