Fragasso Financial Advisors Inc Boosts Stake in Mastercard Incorporated (NYSE:MA)

Fragasso Financial Advisors Inc increased its stake in shares of Mastercard Incorporated (NYSE:MA) by 5.9% during the second quarter, Holdings Channel.com reports. The institutional investor owned 1,374 shares of the credit services provider’s stock after buying an additional 77 shares during the quarter. Fragasso Financial Advisors Inc’s holdings in Mastercard were worth $606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Mastercard during the fourth quarter worth $4,595,559,000. Swedbank AB purchased a new position in shares of Mastercard during the 1st quarter valued at about $660,652,000. Vanguard Group Inc. lifted its holdings in shares of Mastercard by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 75,253,734 shares of the credit services provider’s stock valued at $32,096,470,000 after buying an additional 742,076 shares during the period. Capital International Investors boosted its stake in shares of Mastercard by 3.3% in the fourth quarter. Capital International Investors now owns 21,041,685 shares of the credit services provider’s stock worth $8,974,478,000 after buying an additional 676,452 shares during the last quarter. Finally, Capital Research Global Investors grew its holdings in Mastercard by 4.7% during the fourth quarter. Capital Research Global Investors now owns 13,608,023 shares of the credit services provider’s stock worth $5,803,956,000 after acquiring an additional 605,909 shares during the period. 97.28% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Mastercard

In related news, major shareholder Foundation Mastercard sold 151,000 shares of Mastercard stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $452.55, for a total transaction of $68,335,050.00. Following the transaction, the insider now owns 95,930,308 shares in the company, valued at $43,413,260,885.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Mastercard news, insider Hai Ling sold 2,892 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $460.00, for a total value of $1,330,320.00. Following the transaction, the insider now directly owns 21,420 shares in the company, valued at approximately $9,853,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Foundation Mastercard sold 151,000 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $452.55, for a total transaction of $68,335,050.00. Following the completion of the sale, the insider now directly owns 95,930,308 shares of the company’s stock, valued at approximately $43,413,260,885.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,328,367 shares of company stock worth $1,050,535,876. Insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on MA shares. BNP Paribas upgraded Mastercard to a “strong-buy” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. lowered their price target on shares of Mastercard from $510.00 to $500.00 and set an “overweight” rating on the stock in a report on Thursday, July 18th. Barclays lifted their price objective on shares of Mastercard from $530.00 to $536.00 and gave the company an “overweight” rating in a report on Monday. Morgan Stanley lowered their target price on shares of Mastercard from $536.00 to $524.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. Finally, Evercore ISI cut their price target on Mastercard from $540.00 to $525.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Three equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, Mastercard currently has an average rating of “Buy” and a consensus price target of $507.55.

Mastercard Price Performance

Shares of NYSE MA traded up $6.28 during mid-day trading on Tuesday, reaching $448.28. The company’s stock had a trading volume of 2,758,850 shares, compared to its average volume of 2,524,933. The stock has a 50-day moving average of $446.30 and a two-hundred day moving average of $457.11. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.09 and a current ratio of 1.14. The stock has a market capitalization of $416.73 billion, a P/E ratio of 35.63, a P/E/G ratio of 1.82 and a beta of 1.09. Mastercard Incorporated has a 1-year low of $359.77 and a 1-year high of $490.00.

Mastercard Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Tuesday, July 9th will be issued a $0.66 dividend. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $2.64 dividend on an annualized basis and a yield of 0.59%. Mastercard’s payout ratio is 20.99%.

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.