Nixon Peabody Trust Co. Buys 643 Shares of Mastercard Incorporated (NYSE:MA)

Nixon Peabody Trust Co. boosted its stake in shares of Mastercard Incorporated (NYSE:MA) by 1.3% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 49,571 shares of the credit services provider’s stock after acquiring an additional 643 shares during the period. Mastercard comprises about 2.0% of Nixon Peabody Trust Co.’s holdings, making the stock its 9th biggest holding. Nixon Peabody Trust Co.’s holdings in Mastercard were worth $24,478,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Sarasin & Partners LLP boosted its stake in 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 during the last quarter. Principal Financial Group Inc. raised its holdings in Mastercard by 4.8% in 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 last quarter. Coppell Advisory Solutions Corp. purchased a new position in Mastercard during the first quarter worth approximately $608,000. SteelPeak Wealth LLC raised its holdings in shares of Mastercard by 48.6% during the 2nd quarter. SteelPeak Wealth LLC now owns 4,928 shares of the credit services provider’s stock worth $2,174,000 after acquiring an additional 1,612 shares during the period. Finally, OMC Financial Services LTD acquired a new position in shares of Mastercard during the 1st quarter valued at about $17,854,000. 97.28% of the stock is owned by hedge funds and other institutional investors.

Mastercard Stock Performance

Shares of Mastercard stock traded down $3.89 during midday trading on Monday, hitting $518.00. The company had a trading volume of 146,815 shares, compared to its average volume of 2,441,797. The business’s 50 day simple moving average is $504.09 and its two-hundred day simple moving average is $471.38. The stock has a market cap of $475.44 billion, a PE ratio of 39.48, a P/E/G ratio of 2.28 and a beta of 1.10. The company has a debt-to-equity ratio of 2.36, a current ratio of 1.29 and a quick ratio of 1.29. Mastercard Incorporated has a 1-year low of $398.26 and a 1-year high of $534.03.

Mastercard (NYSE:MA) last announced its quarterly earnings data on Thursday, October 31st. The credit services provider reported $3.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.73 by $0.16. The company had revenue of $7.37 billion during 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 business’s revenue was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.39 EPS. As a group, equities analysts predict that Mastercard Incorporated will post 14.47 EPS for the current fiscal year.

Mastercard Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th were issued a $0.66 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.51%. Mastercard’s payout ratio is presently 19.97%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. BNP Paribas lowered shares of Mastercard from an “outperform” rating to a “neutral” rating and set a $470.00 target price on the stock. in a report on Tuesday, September 3rd. Macquarie raised their target price on Mastercard from $505.00 to $565.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. William Blair raised Mastercard to a “strong-buy” rating in a research note on Wednesday, July 31st. Robert W. Baird raised their target price on shares of Mastercard from $545.00 to $575.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, Bank of America lifted their price objective on shares of Mastercard from $480.00 to $509.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Four research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $549.16.

Insider Buying and Selling

In related news, CMO Venkata R. Madabhushi sold 4,685 shares of the firm’s stock in a transaction 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 directly owns 17,118 shares of the company’s stock, valued at $8,440,885.80. This trade represents a 21.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Foundation Mastercard sold 90,000 shares of Mastercard stock in a transaction dated 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 of the company’s stock, valued at $42,965,195,590.40. This represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 99,370 shares of company stock worth $46,797,168 in the last 90 days. 0.10% of the stock is owned by company insiders.

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.