Kentucky Retirement Systems Insurance Trust Fund Lowers Stake in Mastercard Incorporated (NYSE:MA)

Kentucky Retirement Systems Insurance Trust Fund decreased its position in shares of Mastercard Incorporated (NYSE:MA) by 7.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 24,427 shares of the credit services provider’s stock after selling 2,054 shares during the period. Mastercard accounts for approximately 0.8% of Kentucky Retirement Systems Insurance Trust Fund’s portfolio, making the stock its 17th largest holding. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Mastercard were worth $12,062,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Highline Wealth Partners LLC acquired a new stake in shares of Mastercard during the third quarter worth $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in Mastercard in the 2nd quarter worth about $34,000. Fairway Wealth LLC purchased a new stake in Mastercard in the 2nd quarter valued at about $35,000. First Personal Financial Services acquired a new position in shares of Mastercard during the 3rd quarter valued at about $39,000. Finally, Lowe Wealth Advisors LLC lifted its holdings in shares of Mastercard by 74.0% during the 3rd quarter. Lowe Wealth Advisors LLC now owns 87 shares of the credit services provider’s stock worth $43,000 after acquiring an additional 37 shares during the period. Institutional investors and hedge funds own 97.28% of the company’s stock.

Mastercard Price Performance

MA opened at $521.89 on Friday. The company has a debt-to-equity ratio of 2.36, a quick ratio of 1.29 and a current ratio of 1.29. Mastercard Incorporated has a 1-year low of $395.55 and a 1-year high of $534.03. The company has a 50-day moving average of $504.09 and a 200-day moving average of $471.04. The company has a market capitalization of $479.01 billion, a P/E ratio of 39.48, a PEG ratio of 2.28 and a beta of 1.10.

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 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 quarter in the prior year, the firm posted $3.39 earnings per share. Mastercard’s revenue for the quarter was up 12.8% compared to the same quarter last year. Equities analysts expect that Mastercard Incorporated will post 14.45 EPS for the current fiscal year.

Mastercard Dividend Announcement

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

Insider Buying and Selling at Mastercard

In other news, CMO Venkata R. Madabhushi sold 4,685 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $489.86, for a total transaction of $2,294,994.10. Following the completion of the transaction, the chief marketing officer now directly owns 15,031 shares of the company’s stock, valued at approximately $7,363,085.66. This represents a 23.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Foundation Mastercard sold 90,000 shares of the 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 owns 91,649,308 shares in the company, 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 a total of 208,370 shares of company stock worth $97,749,218 over the last 90 days. Insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Robert W. Baird upped their price target on shares of Mastercard from $545.00 to $575.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Argus raised Mastercard to a “strong-buy” rating in a research report on Thursday, August 1st. Citigroup upped their price target on Mastercard from $566.00 to $572.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. BMO Capital Markets lifted their price objective on Mastercard from $550.00 to $565.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, UBS Group increased their target price on shares of Mastercard from $590.00 to $610.00 and gave the stock a “buy” rating in a research report on Thursday. Four investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Mastercard currently has an average rating of “Moderate Buy” and an average target price of $549.16.

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.