Quest Investment Management LLC Increases Stock Holdings in Mastercard Incorporated (NYSE:MA)

Quest Investment Management LLC raised its position in Mastercard Incorporated (NYSE:MA) by 72.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,896 shares of the credit services provider’s stock after acquiring an additional 15,079 shares during the quarter. Mastercard makes up approximately 1.8% of Quest Investment Management LLC’s portfolio, making the stock its 23rd biggest position. Quest Investment Management LLC’s holdings in Mastercard were worth $15,836,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Frank Rimerman Advisors LLC increased its position in shares of Mastercard by 12,555.2% during the second quarter. Frank Rimerman Advisors LLC now owns 11,010 shares of the credit services provider’s stock worth $4,857,000 after acquiring an additional 10,923 shares during the period. ProShare Advisors LLC grew its position in shares of Mastercard by 2.7% during the second quarter. ProShare Advisors LLC now owns 185,523 shares of the credit services provider’s stock worth $81,845,000 after buying an additional 4,814 shares in the last quarter. Kowal Investment Group LLC increased its stake in shares of Mastercard by 4.4% during the second quarter. Kowal Investment Group LLC now owns 666 shares of the credit services provider’s stock worth $294,000 after buying an additional 28 shares during the period. Symmetry Investments LP raised its holdings in Mastercard by 20.0% in the second quarter. Symmetry Investments LP now owns 9,600 shares of the credit services provider’s stock valued at $4,235,000 after acquiring an additional 1,600 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its stake in Mastercard by 15.0% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 39,540 shares of the credit services provider’s stock worth $17,444,000 after acquiring an additional 5,160 shares during the last quarter. Institutional investors and hedge funds own 97.28% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Bank of America increased their price objective on shares of Mastercard from $480.00 to $509.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Royal Bank of Canada raised their price target on Mastercard from $500.00 to $526.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. BMO Capital Markets reaffirmed an “outperform” rating and set a $520.00 price objective on shares of Mastercard in a research report on Wednesday, August 14th. Argus raised Mastercard to a “strong-buy” rating in a research report on Thursday, August 1st. Finally, William Blair raised Mastercard to a “strong-buy” rating in a report on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Mastercard presently has an average rating of “Moderate Buy” and an average price target of $512.08.

Mastercard Stock Down 0.1 %

Shares of Mastercard stock opened at $492.74 on Friday. Mastercard Incorporated has a one year low of $359.77 and a one year high of $501.80. The company has a market cap of $458.06 billion, a P/E ratio of 39.17, a PEG ratio of 1.92 and a beta of 1.10. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a fifty day moving average of $466.24 and a two-hundred day moving average of $461.11.

Mastercard (NYSE:MA) last posted its quarterly earnings results on Wednesday, July 31st. The credit services provider reported $3.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $0.08. Mastercard had a net margin of 46.45% and a return on equity of 179.78%. The firm had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $6.85 billion. On average, analysts forecast that Mastercard Incorporated will post 14.29 earnings per share for the current year.

Mastercard Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th will be issued a $0.66 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $2.64 annualized dividend and a dividend yield of 0.54%. Mastercard’s dividend payout ratio is currently 20.99%.

Insider Buying and Selling

In other Mastercard news, CFO J. Mehra Sachin sold 13,439 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $455.00, for a total value of $6,114,745.00. Following the completion of the transaction, the chief financial officer now owns 27,304 shares in the company, valued at $12,423,320. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO J. Mehra Sachin sold 13,439 shares of Mastercard stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $455.00, for a total transaction of $6,114,745.00. Following the completion of the sale, the chief financial officer now directly owns 27,304 shares in the company, valued at approximately $12,423,320. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Foundation Mastercard sold 138,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $453.19, for a total value of $62,540,220.00. Following the sale, the insider now directly owns 92,152,308 shares in the company, valued at approximately $41,762,504,462.52. The disclosure for this sale can be found here. Insiders have sold 605,124 shares of company stock valued at $280,045,189 over the last quarter. Company insiders own 0.10% of the company’s stock.

Mastercard 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.