Kornitzer Capital Management Inc. KS Sells 797 Shares of Mastercard Incorporated (NYSE:MA)

Kornitzer Capital Management Inc. KS lessened its stake in Mastercard Incorporated (NYSE:MA) by 3.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,072 shares of the credit services provider’s stock after selling 797 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Mastercard were worth $9,737,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. International Assets Investment Management LLC raised its position in Mastercard by 2.1% in the fourth quarter. International Assets Investment Management LLC now owns 6,885 shares of the credit services provider’s stock worth $2,937,000 after acquiring an additional 141 shares during the period. Gilbert & Cook Inc. increased its position in Mastercard by 8.3% in the fourth quarter. Gilbert & Cook Inc. now owns 3,134 shares of the credit services provider’s stock worth $1,337,000 after buying an additional 241 shares in the last quarter. Aveo Capital Partners LLC lifted its position in shares of Mastercard by 8.8% during the 4th quarter. Aveo Capital Partners LLC now owns 1,427 shares of the credit services provider’s stock valued at $609,000 after buying an additional 116 shares in the last quarter. Gryphon Financial Partners LLC increased its holdings in Mastercard by 7.3% in the 4th quarter. Gryphon Financial Partners LLC now owns 8,431 shares of the credit services provider’s stock worth $3,565,000 after acquiring an additional 571 shares in the last quarter. Finally, Lebenthal Global Advisors LLC bought a new stake in Mastercard during the 4th quarter worth approximately $422,000. 97.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MA has been the subject of a number of analyst reports. Compass Point began coverage on shares of Mastercard in a research note on Wednesday. They issued a “neutral” rating and a $525.00 price objective for the company. Barclays raised their price target on Mastercard from $530.00 to $536.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Piper Sandler upped their price objective on Mastercard from $531.00 to $536.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Evercore ISI decreased their target price on Mastercard from $540.00 to $525.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Finally, Royal Bank of Canada increased their price objective on shares of Mastercard from $500.00 to $526.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $510.88.

Insiders Place Their Bets

In related news, insider Craig Vosburg sold 9,028 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $451.06, for a total value of $4,072,169.68. Following the sale, the insider now owns 58,940 shares in the company, valued at $26,585,476.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, 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 transaction, the insider now directly owns 91,649,308 shares in the company, valued at approximately $42,965,195,590.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Craig Vosburg sold 9,028 shares of the stock in a transaction on 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 sale, the insider now directly owns 58,940 shares in the company, valued at $26,585,476.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,167,931 shares of company stock valued at $531,284,982. 0.10% of the stock is owned by company insiders.

Mastercard Stock Performance

MA opened at $477.36 on Friday. The firm’s 50-day moving average price is $455.56 and its 200-day moving average price is $459.53. The company has a market cap of $443.76 billion, a P/E ratio of 37.95, a price-to-earnings-growth ratio of 1.90 and a beta of 1.10. Mastercard Incorporated has a 52-week low of $359.77 and a 52-week high of $490.00. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.95.

Mastercard Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Tuesday, July 9th were given a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Tuesday, July 9th. Mastercard’s payout ratio is 20.99%.

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.