Industrial Alliance Investment Management Inc. Acquires 59 Shares of Mastercard Incorporated (NYSE:MA)

Industrial Alliance Investment Management Inc. grew its holdings in Mastercard Incorporated (NYSE:MA) by 2.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,179 shares of the credit services provider’s stock after acquiring an additional 59 shares during the quarter. Mastercard accounts for about 0.4% of Industrial Alliance Investment Management Inc.’s investment portfolio, making the stock its 28th largest holding. Industrial Alliance Investment Management Inc.’s holdings in Mastercard were worth $1,049,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Altshuler Shaham Ltd acquired a new position in shares of Mastercard during the fourth quarter worth about $26,000. VitalStone Financial LLC boosted its position in shares of 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 buying an additional 45 shares during the period. LFA Lugano Financial Advisors SA acquired a new position in shares of Mastercard during the fourth quarter worth about $27,000. Westend Capital Management LLC acquired a new position in shares of Mastercard during the first quarter worth about $27,000. Finally, Palisade Asset Management LLC acquired a new position in shares of Mastercard during the first quarter worth about $27,000. 97.28% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Mastercard news, major shareholder Foundation Mastercard sold 138,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $453.19, for a total value of $62,540,220.00. Following the completion of the transaction, the insider now directly owns 92,152,308 shares in the company, valued at approximately $41,762,504,462.52. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Mastercard news, insider Sandra A. Arkell sold 300 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $454.00, for a total value of $136,200.00. Following the completion of the transaction, the insider now directly owns 3,463 shares in the company, valued at approximately $1,572,202. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Foundation Mastercard sold 138,000 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $453.19, for a total transaction of $62,540,220.00. Following the sale, the insider now owns 92,152,308 shares of the company’s stock, valued at $41,762,504,462.52. The disclosure for this sale can be found here. Insiders have sold 2,720,228 shares of company stock valued at $1,224,758,080 in the last ninety days. 0.10% of the stock is currently owned by insiders.

Mastercard Price Performance

Mastercard stock traded up $6.15 during mid-day trading on Tuesday, reaching $447.45. 2,261,106 shares of the company were exchanged, compared to its average volume of 2,488,075. The company has a fifty day simple moving average of $446.14 and a 200-day simple moving average of $456.18. Mastercard Incorporated has a 12 month low of $359.77 and a 12 month high of $490.00. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market cap of $415.95 billion, a PE ratio of 35.53, a PEG ratio of 1.73 and a beta of 1.09.

Mastercard (NYSE:MA) last posted its quarterly earnings data on Wednesday, May 1st. The credit services provider reported $3.31 EPS for the quarter, topping analysts’ consensus estimates of $3.22 by $0.09. Mastercard had a return on equity of 183.70% and a net margin of 46.09%. The firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.34 billion. During the same quarter last year, the company earned $2.80 EPS. The company’s revenue was up 10.4% on a year-over-year basis. As a group, equities research analysts expect that Mastercard Incorporated will post 14.25 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Tuesday, July 9th will be given a dividend of $0.66 per share. The ex-dividend date is Tuesday, July 9th. This represents a $2.64 annualized dividend and a yield of 0.59%. Mastercard’s dividend payout ratio is presently 20.99%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MA. Morgan Stanley reduced their price objective on Mastercard from $536.00 to $524.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Evercore ISI reduced their price target on Mastercard from $540.00 to $525.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. JPMorgan Chase & Co. reduced their price target on Mastercard from $510.00 to $500.00 and set an “overweight” rating for the company in a research report on Thursday, July 18th. Susquehanna reissued a “positive” rating and set a $535.00 price target on shares of Mastercard in a research report on Wednesday, April 3rd. Finally, Barclays reduced their price target on Mastercard from $549.00 to $530.00 and set an “overweight” rating for the company in a research report on Monday, May 6th. Three analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $501.23.

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.