Olstein Capital Management L.P. Sells 300 Shares of Mastercard Incorporated (NYSE:MA)

Olstein Capital Management L.P. decreased its position in shares of Mastercard Incorporated (NYSE:MA) by 5.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,793 shares of the credit services provider’s stock after selling 300 shares during the period. Olstein Capital Management L.P.’s holdings in Mastercard were worth $2,367,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Goldstein Advisors LLC grew its stake in Mastercard by 1.3% during the third quarter. Goldstein Advisors LLC now owns 1,516 shares of the credit services provider’s stock valued at $749,000 after acquiring an additional 20 shares in the last quarter. McLean Asset Management Corp raised its position in Mastercard by 1.3% in the 3rd quarter. McLean Asset Management Corp now owns 1,677 shares of the credit services provider’s stock worth $834,000 after purchasing an additional 21 shares during the period. Oldfather Financial Services LLC grew its position in shares of Mastercard by 2.6% during the 3rd quarter. Oldfather Financial Services LLC now owns 827 shares of the credit services provider’s stock worth $408,000 after buying an additional 21 shares in the last quarter. Quilter Plc boosted its stake in shares of Mastercard by 2.8% during the second quarter. Quilter Plc now owns 801 shares of the credit services provider’s stock valued at $353,000 after purchasing an additional 22 shares in the last quarter. Finally, Cornerstone Wealth Management LLC increased its holdings in shares of Mastercard by 0.5% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 4,351 shares of the credit services provider’s stock valued at $2,148,000 after acquiring an additional 22 shares during the period. 97.28% of the stock is owned by hedge funds and other institutional investors.

Mastercard Stock Performance

NYSE MA traded down $0.38 during trading on Thursday, reaching $520.75. The company’s stock had a trading volume of 239,628 shares, compared to its average volume of 2,442,841. The firm has a market cap of $481.09 billion, a price-to-earnings ratio of 39.42, a P/E/G ratio of 2.21 and a beta of 1.10. The business’s fifty day moving average price is $498.11 and its 200-day moving average price is $468.02. 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 twelve month low of $386.74 and a twelve month high of $527.90.

Mastercard (NYSE:MA) last announced its quarterly earnings data on Thursday, October 31st. The credit services provider reported $3.89 earnings per share for the quarter, beating analysts’ consensus estimates of $3.73 by $0.16. The company had revenue of $7.37 billion for the quarter, compared to analyst estimates of $7.27 billion. Mastercard had a return on equity of 178.27% and a net margin of 45.26%. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.39 EPS. As a group, analysts anticipate that Mastercard Incorporated will post 14.45 EPS for the current fiscal year.

Mastercard Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Wednesday, October 9th will be issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend is Wednesday, October 9th. Mastercard’s dividend payout ratio is currently 19.97%.

Insider Activity at Mastercard

In other news, major shareholder Foundation Mastercard sold 109,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $467.45, for a total transaction of $50,952,050.00. Following the completion of the transaction, the insider now directly owns 91,924,308 shares of the company’s stock, valued at $42,970,017,774.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Mastercard news, CMO Venkata R. Madabhushi sold 4,685 shares of the business’s stock in a transaction dated 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 transaction, the chief marketing officer now owns 15,031 shares in the company, valued at $7,363,085.66. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Foundation Mastercard sold 109,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $467.45, for a total value of $50,952,050.00. Following the sale, the insider now owns 91,924,308 shares in the company, valued at approximately $42,970,017,774.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 327,370 shares of company stock valued at $153,495,958 in the last ninety days. Corporate insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MA. Deutsche Bank Aktiengesellschaft upped their price target on Mastercard from $510.00 to $580.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. KeyCorp raised their price objective on Mastercard from $515.00 to $580.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Bank of America raised their price target on shares of Mastercard from $480.00 to $509.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. Susquehanna upped their price target on shares of Mastercard from $540.00 to $605.00 and gave the company a “positive” rating in a report on Friday, November 1st. Finally, Piper Sandler reiterated an “overweight” rating and set a $565.00 price objective (up previously from $536.00) on shares of Mastercard in a research note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating, twenty have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $540.17.

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.