OVERSEA CHINESE BANKING Corp Ltd Sells 6,414 Shares of Mastercard Incorporated (NYSE:MA)

OVERSEA CHINESE BANKING Corp Ltd trimmed its stake in shares of Mastercard Incorporated (NYSE:MA) by 10.3% in the third quarter, HoldingsChannel reports. The firm owned 55,655 shares of the credit services provider’s stock after selling 6,414 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Mastercard were worth $27,470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MA. International Assets Investment Management LLC boosted its position in Mastercard by 120,665.3% during the third quarter. International Assets Investment Management LLC now owns 8,041,758 shares of the credit services provider’s stock worth $3,971,020,000 after purchasing an additional 8,035,099 shares during the period. Swedbank AB bought a new position in Mastercard during the first quarter worth $660,652,000. PineStone Asset Management Inc. boosted its position in Mastercard by 145.6% during the second quarter. PineStone Asset Management Inc. now owns 1,777,468 shares of the credit services provider’s stock worth $784,148,000 after purchasing an additional 1,053,616 shares during the period. Manning & Napier Advisors LLC bought a new position in Mastercard during the second quarter worth $259,071,000. Finally, Capital World Investors boosted its position in Mastercard by 13.3% during the first quarter. Capital World Investors now owns 3,293,617 shares of the credit services provider’s stock worth $1,586,107,000 after purchasing an additional 387,317 shares during the period. 97.28% of the stock is owned by institutional investors.

Insider Transactions at Mastercard

In other news, CMO Venkata R. Madabhushi sold 4,685 shares of the business’s stock in a transaction dated 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 sale, the chief marketing officer now directly owns 17,118 shares in the company, valued at approximately $8,440,885.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, major shareholder Foundation Mastercard sold 90,000 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $468.80, for a total value of $42,192,000.00. Following the sale, the insider now directly owns 91,649,308 shares in the company, valued at $42,965,195,590.40. This represents a 0.00 % 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, CMO Venkata R. Madabhushi sold 4,685 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $493.10, for a total value 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 327,370 shares of company stock worth $153,495,958. Insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Morgan Stanley lifted their price objective on shares of Mastercard from $540.00 to $544.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Argus raised Mastercard to a “strong-buy” rating in a report on Thursday, August 1st. TD Cowen lifted their target price on Mastercard from $532.00 to $533.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. BMO Capital Markets reissued an “outperform” rating and set a $520.00 target price on shares of Mastercard in a report on Wednesday, August 14th. Finally, Bank of America lifted their target price on Mastercard from $480.00 to $509.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Four investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Mastercard presently has an average rating of “Moderate Buy” and a consensus price target of $540.17.

Mastercard Stock Up 1.0 %

Shares of NYSE MA opened at $530.12 on Tuesday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 2.36. The company has a market cap of $486.56 billion, a price-to-earnings ratio of 40.10, a PEG ratio of 2.30 and a beta of 1.10. Mastercard Incorporated has a 12 month low of $393.02 and a 12 month high of $534.03. The stock has a 50-day moving average price of $500.61 and a two-hundred day moving average price of $469.41.

Mastercard (NYSE:MA) last issued its 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 during the quarter, compared to the consensus estimate of $7.27 billion. Mastercard had a return on equity of 178.27% and a net margin of 45.26%. The business’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.39 earnings per share. As a group, analysts forecast that Mastercard Incorporated will post 14.45 earnings per share for the current fiscal year.

Mastercard Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th were issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Wednesday, October 9th. Mastercard’s dividend payout ratio (DPR) is currently 19.97%.

Mastercard 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.