Mastercard Incorporated (NYSE:MA) Shares Sold by Parnassus Investments LLC

Parnassus Investments LLC lowered its stake in shares of Mastercard Incorporated (NYSE:MA) by 4.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,819,634 shares of the credit services provider’s stock after selling 116,577 shares during the quarter. Mastercard comprises about 3.0% of Parnassus Investments LLC’s holdings, making the stock its 8th largest position. Parnassus Investments LLC owned 0.31% of Mastercard worth $1,392,335,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Mastercard during the 3rd quarter worth approximately $114,205,000. Banque Cantonale Vaudoise increased its position in Mastercard by 13.9% during the 3rd quarter. Banque Cantonale Vaudoise now owns 44,133 shares of the credit services provider’s stock worth $21,793,000 after purchasing an additional 5,395 shares in the last quarter. W.G. Shaheen & Associates DBA Whitney & Co acquired a new stake in Mastercard during the 3rd quarter worth approximately $202,000. Princeton Capital Management LLC increased its position in Mastercard by 17.7% during the 3rd quarter. Princeton Capital Management LLC now owns 10,459 shares of the credit services provider’s stock worth $5,164,000 after purchasing an additional 1,572 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC increased its position in Mastercard by 22.9% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 18,628 shares of the credit services provider’s stock worth $9,199,000 after purchasing an additional 3,475 shares in the last quarter. Institutional investors and hedge funds own 97.28% of the company’s stock.

Insider Activity at Mastercard

In related news, CMO Venkata R. Madabhushi sold 4,685 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $489.86, for a total value of $2,294,994.10. Following the completion of the transaction, the chief marketing officer now owns 15,031 shares in the company, valued at $7,363,085.66. This trade represents a 23.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Foundation Mastercard sold 90,000 shares of the firm’s stock in a transaction dated 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 owns 91,649,308 shares of the company’s stock, valued at $42,965,195,590.40. The trade was 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 quarter. 0.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on MA. Piper Sandler reissued an “overweight” rating and set a $575.00 target price (up previously from $565.00) on shares of Mastercard in a research report on Friday. Mizuho increased their target price on shares of Mastercard from $496.00 to $532.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. William Blair raised shares of Mastercard to a “strong-buy” rating in a research report on Wednesday, July 31st. Bank of America increased their price objective on shares of Mastercard from $480.00 to $509.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Finally, UBS Group increased their price objective on shares of Mastercard from $590.00 to $610.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Four analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $549.16.

Mastercard Stock Performance

Shares of MA opened at $521.63 on Tuesday. The business’s fifty day moving average price is $504.78 and its 200 day moving average price is $471.95. Mastercard Incorporated has a 12-month low of $398.26 and a 12-month high of $534.03. The stock has a market capitalization of $478.77 billion, a PE ratio of 39.46, a price-to-earnings-growth ratio of 2.32 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 (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, topping the consensus estimate of $3.73 by $0.16. Mastercard had a return on equity of 178.27% and a net margin of 45.26%. The firm had revenue of $7.37 billion for the quarter, compared to analysts’ expectations of $7.27 billion. During the same period last year, the business posted $3.39 earnings per share. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. Equities 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. Investors of record on Wednesday, October 9th were given 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 dividend payout ratio (DPR) is 19.97%.

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.