In a recent transaction, the Mastercard Foundation, a significant shareholder in Mastercard Inc (NYSE:MA), has sold a portion of its holdings in the company. The sale, which took place on May 21, 2024, involved 108,000 shares of Class A common stock at an average price of $457.208 per share. The total value of the shares sold amounted to approximately $49.38 million.
Mastercard Foundation Asset Management Corp, a wholly owned subsidiary of the Mastercard Foundation, manages the investment of the shares. Following the sale, the Foundation's directly held stake in Mastercard Inc stands at 94,863,308 shares of Class A common stock. The transaction was disclosed in a filing with the Securities and Exchange Commission on May 23, 2024.
The Foundation's sale of Mastercard shares is a notable event for investors, as it reflects a change in the holdings of a major shareholder. However, it should be noted that Mastercard Foundation Asset Management Corp has stated it does not have a pecuniary interest in the shares.
Mastercard Inc, with its trading symbol MA, is a leading global payments and technology company that connects consumers, businesses, merchants, issuers, and governments around the world. The sale of shares by the Mastercard Foundation does not directly affect the operations or performance of the company.
Investors in Mastercard Inc will likely continue to monitor the Foundation's investment activities for any further changes to its position in the company.
InvestingPro Insights
In light of the recent share sale by the Mastercard Foundation, investors may be looking for additional context on Mastercard Inc's (NYSE:MA) financial health and market performance. According to InvestingPro data, Mastercard boasts a substantial market capitalization of $424.39 billion, underscoring its significant presence in the financial services industry. The company's P/E ratio stands at 36.18, which is considered high and suggests that investors are expecting high future earnings growth. However, this high earnings multiple is paired with a PEG ratio of 1.39, indicating that the price may be justified by the growth rates when considering the company's earnings projections.
Mastercard's revenue has grown by 12.62% over the last twelve months as of Q1 2024, a strong sign of the company's ability to expand its business. Despite a slight decrease in the short-term price total return, with a 1-month return of -1.36%, the company has experienced a 22.86% return over the past year, which is a robust indicator of its long-term performance.
InvestingPro Tips highlight that Mastercard has maintained dividend payments for 19 consecutive years and has raised its dividend for 12 consecutive years, demonstrating a commitment to returning value to shareholders. Moreover, the company has been profitable over the last twelve months and is expected to remain profitable this year, as per analysts' predictions.
For investors seeking a deeper dive into Mastercard's financials and market performance, InvestingPro offers additional insights. There are currently 11 more InvestingPro Tips available, which can be accessed by visiting https://www.investing.com/pro/MA. To enhance your investing toolkit, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, providing even more valuable information to inform your investment decisions.
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