Mastercard Incorporated (NYSE:MA) Stock Position Lowered by Amalgamated Bank

Amalgamated Bank trimmed its position in shares of Mastercard Incorporated (NYSE:MA) by 1.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 176,719 shares of the credit services provider’s stock after selling 1,970 shares during the quarter. Mastercard accounts for 0.7% of Amalgamated Bank’s investment portfolio, making the stock its 18th biggest holding. Amalgamated Bank’s holdings in Mastercard were worth $77,961,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in MA. Hoxton Planning & Management LLC raised its position in 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. Quilter Plc lifted its position in Mastercard by 2.8% during the 2nd quarter. Quilter Plc now owns 801 shares of the credit services provider’s stock worth $353,000 after buying an additional 22 shares in the last quarter. Carolinas Wealth Consulting LLC grew its holdings in Mastercard by 5.0% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 484 shares of the credit services provider’s stock worth $206,000 after acquiring an additional 23 shares during the last quarter. Benin Management CORP increased its position in Mastercard by 3.0% in the 1st quarter. Benin Management CORP now owns 794 shares of the credit services provider’s stock valued at $382,000 after acquiring an additional 23 shares in the last quarter. Finally, Atticus Wealth Management LLC raised its stake in shares of Mastercard by 1.3% in the first quarter. Atticus Wealth Management LLC now owns 1,734 shares of the credit services provider’s stock worth $835,000 after acquiring an additional 23 shares during the last quarter. 97.28% of the stock is owned by institutional investors and hedge funds.

Mastercard Price Performance

NYSE MA opened at $501.22 on Wednesday. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.14 and a current ratio of 1.14. The stock has a market cap of $465.94 billion, a price-to-earnings ratio of 39.84, a PEG ratio of 1.92 and a beta of 1.10. The business has a 50 day simple moving average of $462.83 and a 200 day simple moving average of $460.52. Mastercard Incorporated has a 52-week low of $359.77 and a 52-week high of $501.74.

Mastercard (NYSE:MA) last issued its quarterly earnings data on Wednesday, July 31st. The credit services provider reported $3.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $0.08. The company had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.85 billion. Mastercard had a net margin of 46.45% and a return on equity of 179.78%. Analysts anticipate that Mastercard Incorporated will post 14.29 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Wednesday, October 9th will be paid a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Wednesday, October 9th. Mastercard’s dividend payout ratio is 20.99%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Barclays increased their price target on shares of Mastercard from $530.00 to $536.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. BNP Paribas cut Mastercard from an “outperform” rating to a “neutral” rating and set a $470.00 target price for the company. in a research note on Tuesday, September 3rd. William Blair raised Mastercard to a “strong-buy” rating in a research note on Wednesday, July 31st. Evercore ISI lowered their price objective on Mastercard from $540.00 to $525.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Finally, Piper Sandler boosted their price objective on Mastercard from $531.00 to $536.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $512.08.

Insider Activity

In related news, insider Craig Vosburg sold 9,028 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $451.06, for a total transaction of $4,072,169.68. Following the completion of the transaction, the insider now directly owns 58,940 shares in the company, valued at $26,585,476.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Craig Vosburg sold 9,028 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $451.06, for a total value of $4,072,169.68. Following the completion of the transaction, the insider now owns 58,940 shares of the company’s stock, valued at $26,585,476.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CMO Venkata R. Madabhushi sold 4,685 shares of Mastercard stock in a transaction on Friday, September 13th. The shares were sold at an average price of $493.10, for a total transaction of $2,310,173.50. Following the completion of the sale, the chief marketing officer now owns 17,118 shares in the company, valued at $8,440,885.80. The disclosure for this sale can be found here. Insiders have sold a total of 725,152 shares of company stock worth $334,186,128 over the last three months. Corporate insiders own 0.10% of the company’s stock.

About Mastercard

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.