Banque Pictet & Cie SA Lowers Stake in Mastercard Incorporated (NYSE:MA)

Banque Pictet & Cie SA trimmed its position in Mastercard Incorporated (NYSE:MA) by 0.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 888,951 shares of the credit services provider’s stock after selling 1,151 shares during the quarter. Mastercard makes up about 3.6% of Banque Pictet & Cie SA’s holdings, making the stock its 9th largest holding. Banque Pictet & Cie SA’s holdings in Mastercard were worth $392,170,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Westend Capital Management LLC purchased a new stake in Mastercard in the 1st quarter worth approximately $27,000. Palisade Asset Management LLC purchased a new stake in Mastercard in the 1st quarter worth approximately $27,000. VitalStone Financial LLC grew its holdings in Mastercard by 300.0% during the 4th quarter. VitalStone Financial LLC now owns 60 shares of the credit services provider’s stock valued at $26,000 after buying an additional 45 shares in the last quarter. Altshuler Shaham Ltd purchased a new stake in Mastercard during the 4th quarter valued at approximately $26,000. Finally, Scarborough Advisors LLC bought a new stake in shares of Mastercard during the fourth quarter valued at approximately $28,000. 97.28% of the stock is owned by hedge funds and other institutional investors.

Mastercard Trading Down 0.5 %

NYSE MA traded down $2.38 on Friday, hitting $466.44. 1,986,348 shares of the stock were exchanged, compared to its average volume of 2,469,403. 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 fifty day moving average price of $450.73 and a two-hundred day moving average price of $458.53. The firm has a market capitalization of $433.61 billion, a P/E ratio of 37.08, a P/E/G ratio of 1.82 and a beta of 1.09. Mastercard Incorporated has a 52-week low of $359.77 and a 52-week high of $490.00.

Mastercard Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Tuesday, July 9th were paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend was Tuesday, July 9th. Mastercard’s dividend payout ratio is currently 20.99%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Piper Sandler lifted their price objective on shares of Mastercard from $531.00 to $536.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Evercore ISI reduced their price objective on shares of Mastercard from $540.00 to $525.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. KeyCorp lifted their price objective on shares of Mastercard from $490.00 to $515.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Morgan Stanley reduced their price objective on shares of Mastercard from $536.00 to $524.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Finally, BNP Paribas upgraded shares of Mastercard to a “strong-buy” rating in a research report on Thursday, July 25th. Three analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, Mastercard has an average rating of “Buy” and a consensus target price of $512.09.

Insider Activity

In other news, major shareholder Foundation Mastercard sold 107,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $444.04, for a total transaction of $47,512,280.00. Following the completion of the sale, the insider now directly owns 94,441,308 shares of the company’s stock, valued at $41,935,718,404.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Raj Seshadri sold 5,216 shares of Mastercard stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $446.71, for a total value of $2,330,039.36. Following the completion of the sale, the insider now directly owns 15,183 shares in the company, valued at $6,782,397.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Foundation Mastercard sold 107,000 shares of Mastercard stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $444.04, for a total value of $47,512,280.00. Following the completion of the sale, the insider now owns 94,441,308 shares of the company’s stock, valued at $41,935,718,404.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,733,175 shares of company stock valued at $782,773,546. 0.10% of the stock is currently owned by company insiders.

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.