Retirement Systems of Alabama Cuts Stake in Mastercard Incorporated (NYSE:MA)

Retirement Systems of Alabama lowered its holdings in Mastercard Incorporated (NYSE:MA - Free Report) by 4.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 360,513 shares of the credit services provider's stock after selling 18,264 shares during the quarter. Mastercard comprises approximately 0.7% of Retirement Systems of Alabama's investment portfolio, making the stock its 20th largest holding. Retirement Systems of Alabama's holdings in Mastercard were worth $178,021,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of MA. Highline Wealth Partners LLC bought a new position in shares of Mastercard in the third quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL bought a new position in Mastercard during the 2nd quarter valued at $34,000. Fairway Wealth LLC purchased a new position in Mastercard during the 2nd quarter worth $35,000. First Personal Financial Services bought a new stake in shares of Mastercard in the 3rd quarter worth $39,000. Finally, Lowe Wealth Advisors LLC raised its holdings in shares of Mastercard by 74.0% in the third quarter. Lowe Wealth Advisors LLC now owns 87 shares of the credit services provider's stock valued at $43,000 after purchasing an additional 37 shares during the last quarter. Institutional investors and hedge funds own 97.28% of the company's stock.

Mastercard Price Performance

Mastercard stock traded down $3.41 during midday trading on Friday, reaching $529.00. 1,599,600 shares of the stock were exchanged, compared to its average volume of 2,454,107. Mastercard Incorporated has a 52 week low of $411.60 and a 52 week high of $536.75. The company has a debt-to-equity ratio of 2.36, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a market cap of $485.53 billion, a PE ratio of 40.02, a PEG ratio of 2.38 and a beta of 1.10. The company's fifty day moving average is $516.61 and its 200-day moving average is $480.61.

Mastercard (NYSE:MA - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The credit services provider reported $3.89 earnings per share for the quarter, topping the consensus estimate of $3.73 by $0.16. The firm had revenue of $7.37 billion for the quarter, compared to analysts' expectations of $7.27 billion. Mastercard had a net margin of 45.26% and a return on equity of 178.27%. The business's quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.39 earnings per share. On average, sell-side analysts forecast that Mastercard Incorporated will post 14.47 EPS for the current year.

Mastercard Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th were given a dividend of $0.66 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.50%. Mastercard's dividend payout ratio (DPR) is presently 19.97%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Oppenheimer began coverage on shares of Mastercard in a research report on Tuesday, October 1st. They issued an "outperform" rating and a $591.00 price objective for the company. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $572.00 target price on shares of Mastercard in a report on Thursday, November 14th. Keefe, Bruyette & Woods lifted their price target on Mastercard from $580.00 to $618.00 and gave the stock an "outperform" rating in a report on Monday. Jefferies Financial Group upped their price objective on Mastercard from $590.00 to $610.00 and gave the company a "buy" rating in a research note on Monday. Finally, Morgan Stanley lifted their target price on Mastercard from $544.00 to $564.00 and gave the stock an "overweight" rating in a research note on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $559.28.

Insider Transactions at Mastercard

In other Mastercard news, CMO Venkata R. Madabhushi sold 4,685 shares of the firm's stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $489.86, for a total transaction of $2,294,994.10. Following the sale, the chief marketing officer now owns 15,031 shares in the company, valued at $7,363,085.66. This trade represents a 23.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.10% of the stock is owned by insiders.

About Mastercard

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.