Rehmann Capital Advisory Group Sells 217 Shares of Mastercard Incorporated (NYSE:MA)

13 Dec 2023, 12:22 by Renee Jackson · The Cerbat Gem

Rehmann Capital Advisory Group trimmed its holdings in Mastercard Incorporated (NYSE:MA – Free Report) by 2.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,869 shares of the credit services provider’s stock after selling 217 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Mastercard were worth $3,095,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MA. Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of Mastercard by 98,203.6% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 825,436,694 shares of the credit services provider’s stock worth $324,644,252,000 after acquiring an additional 824,597,013 shares in the last quarter. State Street Corp raised its holdings in Mastercard by 1.4% during the 2nd quarter. State Street Corp now owns 35,255,582 shares of the credit services provider’s stock valued at $13,866,020,000 after buying an additional 495,768 shares during the period. Capital International Investors raised its holdings in Mastercard by 6.8% during the 2nd quarter. Capital International Investors now owns 19,377,705 shares of the credit services provider’s stock valued at $7,620,937,000 after buying an additional 1,240,661 shares during the period. Geode Capital Management LLC raised its holdings in Mastercard by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 16,643,273 shares of the credit services provider’s stock valued at $6,529,235,000 after buying an additional 274,679 shares during the period. Finally, Morgan Stanley raised its holdings in Mastercard by 17.7% during the 4th quarter. Morgan Stanley now owns 15,843,692 shares of the credit services provider’s stock valued at $5,509,328,000 after buying an additional 2,385,640 shares during the period. 74.94% of the stock is currently owned by institutional investors.

Mastercard Price Performance

Shares of MA stock opened at $420.75 on Wednesday. The stock’s 50-day moving average is $397.07 and its 200 day moving average is $395.29. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.17 and a quick ratio of 1.17. Mastercard Incorporated has a 1-year low of $336.43 and a 1-year high of $421.00. The company has a market cap of $394.57 billion, a P/E ratio of 36.67, a PEG ratio of 1.87 and a beta of 1.08.

Mastercard (NYSE:MA – Get Free Report) last released its quarterly earnings results on Thursday, October 26th. The credit services provider reported $3.39 EPS for the quarter, beating analysts’ consensus estimates of $3.21 by $0.18. Mastercard had a return on equity of 188.83% and a net margin of 44.85%. The company had revenue of $6.53 billion during the quarter, compared to analysts’ expectations of $6.53 billion. During the same period last year, the business posted $2.68 earnings per share. The firm’s revenue was up 13.5% compared to the same quarter last year. Research analysts predict that Mastercard Incorporated will post 12.16 earnings per share for the current fiscal year.

Mastercard Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Tuesday, January 9th will be paid a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 0.63%. This is a boost from Mastercard’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Monday, January 8th. Mastercard’s dividend payout ratio (DPR) is presently 19.86%.

Mastercard announced that its Board of Directors has initiated a share buyback program on Tuesday, December 5th that permits the company to repurchase $11.00 billion in outstanding shares. This repurchase authorization permits the credit services provider to purchase up to 2.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on MA shares. BMO Capital Markets restated an “outperform” rating and set a $475.00 price target on shares of Mastercard in a report on Tuesday, December 5th. KeyCorp cut their price objective on Mastercard from $440.00 to $430.00 and set an “overweight” rating on the stock in a research report on Friday, October 27th. JPMorgan Chase & Co. cut their price objective on Mastercard from $510.00 to $496.00 and set an “overweight” rating on the stock in a research report on Monday, October 9th. Jefferies Financial Group upped their price objective on Mastercard from $425.00 to $480.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Barclays cut their price objective on Mastercard from $479.00 to $470.00 and set an “overweight” rating on the stock in a research report on Monday, October 30th. One investment analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $451.32.

View Our Latest Stock Report on Mastercard

Insider Activity at Mastercard

In related news, insider Ajay Bhalla sold 4,000 shares of Mastercard stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $413.13, for a total transaction of $1,652,520.00. Following the completion of the transaction, the insider now directly owns 6,235 shares in the company, valued at $2,575,865.55. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Mastercard news, Director Richard K. Davis acquired 1,000 shares of the company’s stock in a transaction on Thursday, November 9th. The shares were bought at an average cost of $390.96 per share, with a total value of $390,960.00. Following the completion of the acquisition, the director now owns 9,743 shares in the company, valued at $3,809,123.28. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ajay Bhalla sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $413.13, for a total value of $1,652,520.00. Following the completion of the sale, the insider now directly owns 6,235 shares in the company, valued at $2,575,865.55. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 520,776 shares of company stock worth $200,842,951. 0.13% of the stock is owned by corporate insiders.

Mastercard Profile

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