Insider Selling: MasterCard major shareholder Unloads 404,760 Shares of Stock (MA)
MasterCard (NYSE:MA) major shareholder Foundation Mastercard sold 404,760 shares of MasterCard stock on the open market in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $82.31, for a total value of $33,315,795.60. Following the completion of the transaction, the insider now directly owns 120,428,490 shares in the company, valued at approximately $9,912,469,012. The sale was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Shares of MasterCard (NYSE:MA) traded down 4.67% during mid-day trading on Friday, hitting $78.51. The stock had a trading volume of 9,541,224 shares. MasterCard has a 52 week low of $50.736 and a 52 week high of $84.748. The stock has a 50-day moving average of $81.14 and a 200-day moving average of $70.34. The company has a market cap of $9.451 billion and a P/E ratio of 3.26. MasterCard also was the recipient of unusually large options trading activity on Wednesday. Stock investors purchased 41,945 call options on the company. This represents an increase of approximately 432% compared to the typical daily volume of 7,883 call options.
MasterCard (NYSE:MA) last issued its quarterly earnings data on Thursday, October 31st. The company reported $7.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.92 by $0.35. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the previous year, the company posted $6.17 earnings per share. The company’s revenue for the quarter was up 15.6% on a year-over-year basis. Analysts expect that MasterCard will post $26.39 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, February 10th. Investors of record on Thursday, January 9th will be paid a dividend of 1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 5.60%. The ex-dividend date is Tuesday, January 7th.
A number of research firms have recently commented on MA. Analysts at Stifel Nicolaus raised their price target on shares of MasterCard from $811.00 to $926.00 in a research note to investors on Tuesday. They now have a “buy” rating on the stock. Separately, analysts at Barclays raised their price target on shares of MasterCard from $830.00 to $930.00 in a research note to investors on Thursday, January 16th. They now have an “overweight” rating on the stock. Finally, analysts at Nomura reiterated a “buy” rating on shares of MasterCard in a research note to investors on Monday, January 13th. They now have a $935.00 price target on the stock. Twelve investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $745.57.
MasterCard Incorporated (NYSE:MA) is a global payments and technology company that connects consumers, financial institutions, merchants, Governments and businesses worldwide, enabling them to use electronic forms of payment instead of cash and checks.
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