Sumitomo Mitsui Trust Holdings Inc. Cuts Position in Mastercard Incorporated (NYSE:MA)

Sumitomo Mitsui Trust Holdings Inc. trimmed its position in Mastercard Incorporated (NYSE:MA) by 0.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,103,371 shares of the credit services provider’s stock after selling 9,823 shares during the quarter. Mastercard accounts for approximately 0.7% of Sumitomo Mitsui Trust Holdings Inc.’s portfolio, making the stock its 18th largest holding. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Mastercard were worth $1,012,920,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Hoxton Planning & Management LLC boosted its stake in shares of Mastercard by 1.4% during the 1st quarter. Hoxton Planning & Management LLC now owns 1,637 shares of the credit services provider’s stock worth $788,000 after acquiring an additional 22 shares in the last quarter. Carolinas Wealth Consulting LLC boosted its stake in Mastercard by 5.0% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 484 shares of the credit services provider’s stock valued at $206,000 after purchasing an additional 23 shares during the period. Benin Management CORP boosted its stake in Mastercard by 3.0% during the 1st quarter. Benin Management CORP now owns 794 shares of the credit services provider’s stock valued at $382,000 after purchasing an additional 23 shares during the period. Atticus Wealth Management LLC boosted its stake in Mastercard by 1.3% during the 1st quarter. Atticus Wealth Management LLC now owns 1,734 shares of the credit services provider’s stock valued at $835,000 after purchasing an additional 23 shares during the period. Finally, Cypress Wealth Services LLC boosted its stake in Mastercard by 2.9% during the 4th quarter. Cypress Wealth Services LLC now owns 864 shares of the credit services provider’s stock valued at $369,000 after purchasing an additional 24 shares during the period. 97.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Foundation Mastercard sold 138,000 shares of Mastercard stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $453.19, for a total value of $62,540,220.00. Following the completion of the sale, the insider now directly owns 92,152,308 shares of the company’s stock, valued at approximately $41,762,504,462.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder Foundation Mastercard sold 138,000 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $453.19, for a total value of $62,540,220.00. Following the transaction, the insider now directly owns 92,152,308 shares in the company, valued at approximately $41,762,504,462.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sandra A. Arkell sold 300 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $447.23, for a total value of $134,169.00. Following the completion of the transaction, the insider now owns 4,063 shares in the company, valued at $1,817,095.49. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,163,228 shares of company stock valued at $1,428,540,870. Company insiders own 0.10% of the company’s stock.

Mastercard Price Performance

MA stock traded up $3.43 during midday trading on Wednesday, reaching $448.08. 1,905,549 shares of the company’s stock traded hands, compared to its average volume of 2,457,520. The company has a 50-day simple moving average of $451.12 and a two-hundred day simple moving average of $453.44. Mastercard Incorporated has a 1-year low of $359.77 and a 1-year high of $490.00. The company has a market cap of $416.54 billion, a price-to-earnings ratio of 35.35, a PEG ratio of 1.72 and a beta of 1.09. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.86.

Mastercard (NYSE:MA) last released its earnings results on Wednesday, May 1st. The credit services provider reported $3.31 EPS for the quarter, beating the consensus estimate of $3.22 by $0.09. The company had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.34 billion. Mastercard had a return on equity of 183.70% and a net margin of 46.09%. The business’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same period last year, the firm earned $2.80 EPS. On average, analysts anticipate that Mastercard Incorporated will post 14.26 earnings per share for the current year.

Mastercard Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Tuesday, July 9th will be paid a $0.66 dividend. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $2.64 annualized dividend and a dividend yield of 0.59%. Mastercard’s dividend payout ratio (DPR) is currently 20.99%.

Wall Street Analyst Weigh In

MA has been the subject of several recent analyst reports. Robert W. Baird increased their target price on Mastercard from $525.00 to $545.00 and gave the company an “outperform” rating in a research note on Thursday, April 18th. Wells Fargo & Company raised their price objective on Mastercard from $490.00 to $530.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. 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. Barclays reduced their price objective on Mastercard from $549.00 to $530.00 and set an “overweight” rating for the company in a research report on Monday, May 6th. Finally, Evercore ISI reduced 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. Two investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $496.91.

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.