Mastercard (NYSE:MA) Shares Down 0.5% – Here’s What Happened

Mastercard Incorporated (NYSE:MA) shares dropped 0.5% on Tuesday . The stock traded as low as $516.76 and last traded at $519.07. Approximately 707,268 shares changed hands during trading, a decline of 71% from the average daily volume of 2,444,529 shares. The stock had previously closed at $521.63.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Compass Point assumed coverage on shares of Mastercard in a report on Wednesday, September 4th. They issued a “neutral” rating and a $525.00 price objective for the company. Macquarie lifted their target price on shares of Mastercard from $505.00 to $565.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Citigroup upped their target price on shares of Mastercard from $566.00 to $572.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Piper Sandler reiterated an “overweight” rating and issued a $575.00 price objective (up previously from $565.00) on shares of Mastercard in a research report on Friday. Finally, Argus raised shares of Mastercard to a “strong-buy” rating in a report on Thursday, August 1st. Four analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $549.16.

Mastercard Trading Down 0.5 %

The company has a debt-to-equity ratio of 2.36, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a market cap of $476.48 billion, a price-to-earnings ratio of 39.26, a P/E/G ratio of 2.32 and a beta of 1.10. The business has a 50-day simple moving average of $504.78 and a two-hundred day simple moving average of $471.95.

Mastercard (NYSE:MA) last issued its quarterly earnings results on Thursday, October 31st. The credit services provider reported $3.89 EPS for the quarter, topping the consensus estimate of $3.73 by $0.16. The firm had revenue of $7.37 billion for the quarter, compared to analysts’ expectations of $7.27 billion. Mastercard had a net margin of 45.26% and a return on equity of 178.27%. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period in the previous year, the firm posted $3.39 EPS. As a group, research analysts forecast that Mastercard Incorporated will post 14.47 EPS for the current year.

Mastercard Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Wednesday, October 9th were given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Wednesday, October 9th. Mastercard’s dividend payout ratio (DPR) is 19.97%.

Insider Activity

In other news, CMO Venkata R. Madabhushi sold 4,685 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was 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 trade was a 21.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Foundation Mastercard sold 90,000 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $468.80, for a total value of $42,192,000.00. Following the completion of the sale, the insider now owns 91,649,308 shares of the company’s stock, valued at $42,965,195,590.40. This trade represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 99,370 shares of company stock valued at $46,797,168. 0.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Mastercard

Several institutional investors and hedge funds have recently modified their holdings of the business. Sarasin & Partners LLP grew its position in shares of Mastercard by 4.7% during the 3rd quarter. Sarasin & Partners LLP now owns 831,942 shares of the credit services provider’s stock worth $410,813,000 after purchasing an additional 37,486 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Mastercard by 4.8% during the 3rd quarter. Principal Financial Group Inc. now owns 3,031,915 shares of the credit services provider’s stock valued at $1,497,160,000 after acquiring an additional 138,842 shares during the period. Coppell Advisory Solutions Corp. acquired a new stake in shares of Mastercard during the 1st quarter worth $608,000. SteelPeak Wealth LLC increased its position in shares of Mastercard by 48.6% in the second quarter. SteelPeak Wealth LLC now owns 4,928 shares of the credit services provider’s stock worth $2,174,000 after purchasing an additional 1,612 shares during the period. Finally, OMC Financial Services LTD acquired a new position in Mastercard in the first quarter valued at about $17,854,000. 97.28% of the stock is currently owned by institutional investors and hedge funds.

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.