AGF Management Ltd. Sells 4,203 Shares of Mastercard Incorporated (NYSE:MA)

AGF Management Ltd. lowered its stake in Mastercard Incorporated (NYSE:MA) by 38.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,840 shares of the credit services provider’s stock after selling 4,203 shares during the period. AGF Management Ltd.’s holdings in Mastercard were worth $3,018,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in MA. VitalStone Financial LLC boosted its position in shares of Mastercard by 300.0% during the fourth quarter. VitalStone Financial LLC now owns 60 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 45 shares in the last quarter. Westend Capital Management LLC bought a new stake in shares of Mastercard in the 1st quarter worth approximately $27,000. Palisade Asset Management LLC bought a new position in Mastercard during the 1st quarter valued at approximately $27,000. Scarborough Advisors LLC bought a new position in Mastercard during the 4th quarter valued at approximately $28,000. Finally, Beaird Harris Wealth Management LLC bought a new position in shares of Mastercard during the fourth quarter valued at $30,000. 97.28% of the stock is owned by hedge funds and other institutional investors.

Mastercard Price Performance

MA stock opened at $492.11 on Friday. Mastercard Incorporated has a 52 week low of $359.77 and a 52 week high of $492.88. The firm has a market capitalization of $457.47 billion, a P/E ratio of 39.12, a price-to-earnings-growth ratio of 1.87 and a beta of 1.10. The company has a fifty day simple moving average of $459.79 and a two-hundred day simple moving average of $460.28. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.95.

Mastercard Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Tuesday, July 9th were issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date was Tuesday, July 9th. Mastercard’s payout ratio is 20.99%.

Insider Buying and Selling

In other news, major shareholder Foundation Mastercard sold 90,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $468.80, for a total value of $42,192,000.00. Following the completion of the sale, the insider now directly owns 91,649,308 shares of the company’s stock, valued at approximately $42,965,195,590.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Mastercard news, major shareholder Foundation Mastercard sold 90,000 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $468.80, for a total transaction of $42,192,000.00. Following the transaction, the insider now owns 91,649,308 shares in the company, valued at $42,965,195,590.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Craig Vosburg sold 9,028 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $451.06, for a total transaction of $4,072,169.68. Following the completion of the sale, the insider now owns 58,940 shares of the company’s stock, valued at approximately $26,585,476.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 827,467 shares of company stock worth $379,595,815. Corporate insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on MA shares. Citigroup lifted their target price on shares of Mastercard from $528.00 to $538.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Piper Sandler lifted their price objective on Mastercard from $531.00 to $536.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Evercore ISI cut their price objective on Mastercard from $540.00 to $525.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. BMO Capital Markets reissued an “outperform” rating and issued a $520.00 price objective on shares of Mastercard in a report on Wednesday, August 14th. Finally, Barclays upped their price objective on Mastercard from $530.00 to $536.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Five research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $510.88.

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.