Allspring Global Investments Holdings LLC Sells 69,628 Shares of Mastercard Incorporated $MA

Allspring Global Investments Holdings LLC reduced its position in shares of Mastercard Incorporated (NYSE:MA) by 16.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 355,564 shares of the credit services provider’s stock after selling 69,628 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Mastercard were worth $174,813,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. E Fund Management Hong Kong Co. Ltd. increased its position in shares of Mastercard by 820.0% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 46 shares of the credit services provider’s stock valued at $26,000 after acquiring an additional 41 shares in the last quarter. Strive Financial Group LLC bought a new position in Mastercard in the 4th quarter valued at approximately $27,000. Hyposwiss Advisors SA purchased a new stake in Mastercard during the 4th quarter valued at $29,000. Bay Harbor Wealth Management LLC increased its holdings in shares of Mastercard by 54.1% in the 4th quarter. Bay Harbor Wealth Management LLC now owns 57 shares of the credit services provider’s stock worth $33,000 after purchasing an additional 20 shares in the last quarter. Finally, Lifetime Wealth Management P.C. bought a new stake in shares of Mastercard in the 4th quarter worth $33,000. 97.28% of the stock is owned by hedge funds and other institutional investors.

Mastercard Stock Up 3.0%

Mastercard stock opened at $551.15 on Friday. Mastercard Incorporated has a one year low of $464.52 and a one year high of $601.77. The stock has a fifty day moving average of $503.03 and a 200 day moving average of $516.04. The company has a debt-to-equity ratio of 2.56, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market cap of $486.98 billion, a PE ratio of 31.90, a price-to-earnings-growth ratio of 1.67 and a beta of 0.73.

Mastercard (NYSE:MA) last announced its earnings results on Thursday, April 30th. The credit services provider reported $4.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.41 by $0.19. The business had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.26 billion. Mastercard had a return on equity of 212.96% and a net margin of 45.88%.The business’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same period last year, the firm posted $3.73 earnings per share. As a group, sell-side analysts predict that Mastercard Incorporated will post 19.62 EPS for the current year.

Mastercard Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Thursday, July 9th will be given a $0.87 dividend. The ex-dividend date is Thursday, July 9th. This represents a $3.48 annualized dividend and a yield of 0.6%. Mastercard’s dividend payout ratio (DPR) is presently 20.14%.

Insider Buying and Selling at Mastercard

In related news, insider Raj Seshadri sold 4,828 shares of the firm’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $525.00, for a total value of $2,534,700.00. Following the transaction, the insider directly owned 16,429 shares of the company’s stock, valued at approximately $8,625,225. This trade represents a 22.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sandra A. Arkell sold 200 shares of Mastercard stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $540.00, for a total value of $108,000.00. Following the transaction, the insider directly owned 3,322 shares in the company, valued at approximately $1,793,880. The trade was a 5.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 7,005 shares of company stock worth $3,689,976 in the last quarter. Corporate insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

MA has been the topic of a number of research analyst reports. Raymond James Financial set a $609.00 price target on Mastercard in a report on Friday, May 1st. UBS Group reiterated a “buy” rating on shares of Mastercard in a report on Thursday, June 25th. Dbs Bank raised Mastercard to a “moderate buy” rating in a research report on Friday, March 27th. Barclays started coverage on shares of Mastercard in a research note on Wednesday, July 8th. They set an “overweight” rating and a $640.00 target price on the stock. Finally, TD Cowen reduced their price target on shares of Mastercard from $671.00 to $664.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th. Seven research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $653.92.

Mastercard Company Profile

Mastercard Incorporated is a global payments technology company that operates a network connecting consumers, financial institutions, merchants, governments and businesses in more than 200 countries and territories. The company facilitates electronic payments and transaction processing for credit, debit and prepaid card products carrying the Mastercard brand, while also providing a range of payment-related services to issuers, acquirers and merchants. Its technology and network enable authorization, clearing and settlement of payments and support a broad set of use cases including point-of-sale, e-commerce and mobile payments.

Beyond core transaction processing, Mastercard offers a suite of value-added services such as fraud and risk management, identity and authentication tools, tokenization and digital wallet support, cross-border and commercial payment solutions, and data analytics and consulting services for merchants and financial partners.