CIBC Asset Management Inc Has $16.69 Million Stake in Mastercard Incorporated (MA)

CIBC Asset Management Inc cut its stake in Mastercard Incorporated (NYSE:MA) by 6.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 137,457 shares of the credit services provider’s stock after selling 9,122 shares during the quarter. CIBC Asset Management Inc’s holdings in Mastercard were worth $16,694,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Waldron LP purchased a new position in Mastercard during the 1st quarter worth $823,000. Adviser Investments LLC purchased a new position in Mastercard during the 1st quarter worth $727,000. Park Avenue Securities LLC grew its stake in Mastercard by 93.6% during the 1st quarter. Park Avenue Securities LLC now owns 4,913 shares of the credit services provider’s stock worth $551,000 after buying an additional 2,375 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in Mastercard by 9.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 214,636 shares of the credit services provider’s stock worth $24,140,000 after buying an additional 18,630 shares during the last quarter. Finally, Shell Asset Management Co. grew its stake in Mastercard by 17.9% during the 1st quarter. Shell Asset Management Co. now owns 243,724 shares of the credit services provider’s stock worth $27,412,000 after buying an additional 36,937 shares during the last quarter. Institutional investors and hedge funds own 76.10% of the company’s stock.

In related news, CFO Martina Hundmejean sold 91,107 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $129.79, for a total value of $11,824,777.53. Following the completion of the sale, the chief financial officer now owns 170,570 shares in the company, valued at $22,138,280.30. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Foundation Mastercard sold 87,623 shares of the firm’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $129.34, for a total transaction of $11,333,158.82. Following the completion of the sale, the insider now owns 112,240,179 shares of the company’s stock, valued at approximately $14,517,144,751.86. The disclosure for this sale can be found here. In the last three months, insiders have sold 850,468 shares of company stock worth $109,574,694. Corporate insiders own 0.30% of the company’s stock.

WARNING: This news story was first posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this news story on another domain, it was copied illegally and reposted in violation of US & international trademark & copyright laws. The legal version of this news story can be viewed at https://ledgergazette.com/2017/09/17/cibc-asset-management-inc-has-16-69-million-stake-in-mastercard-incorporated-ma.html.

MA has been the topic of several research analyst reports. Instinet restated a “buy” rating and set a $163.00 target price (up from $153.00) on shares of Mastercard in a research note on Saturday, September 9th. Deutsche Bank AG restated a “buy” rating and set a $150.00 target price (up from $124.00) on shares of Mastercard in a research note on Monday, July 10th. Wedbush restated an “outperform” rating and set a $129.00 target price (up from $126.00) on shares of Mastercard in a research note on Tuesday, June 6th. Susquehanna Bancshares Inc restated a “positive” rating and set a $158.00 target price (up from $149.00) on shares of Mastercard in a research note on Friday, September 8th. Finally, Cowen and Company restated a “buy” rating and set a $137.00 target price on shares of Mastercard in a research note on Friday, September 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. Mastercard presently has an average rating of “Buy” and an average price target of $138.43.

Mastercard Incorporated (NYSE:MA) opened at 141.58 on Friday. The company has a 50-day moving average price of $133.09 and a 200-day moving average price of $122.02. Mastercard Incorporated has a 12-month low of $99.42 and a 12-month high of $143.52. The firm has a market cap of $150.77 billion, a PE ratio of 35.13 and a beta of 1.18.

Mastercard (NYSE:MA) last released its quarterly earnings results on Thursday, July 27th. The credit services provider reported $1.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.06. Mastercard had a return on equity of 74.92% and a net margin of 38.30%. The firm had revenue of $3.05 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same quarter last year, the company posted $0.96 earnings per share. The business’s revenue was up 13.3% on a year-over-year basis. On average, equities analysts predict that Mastercard Incorporated will post $4.43 earnings per share for the current year.

Mastercard Company Profile

MasterCard Incorporated is a technology company that connects consumers, financial institutions, merchants, governments and businesses across the world, enabling them to use electronic forms of payment. The Company operates through Payment Solutions segment. The Company allows user to make payments by creating a range of payment solutions and services using its brands, which include MasterCard, Maestro and Cirrus.

Want to see what other hedge funds are holding MA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mastercard Incorporated (NYSE:MA).

Institutional Ownership by Quarter for Mastercard (NYSE:MA)

Receive News & Ratings for Mastercard Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mastercard Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply