Foster & Motley Inc. lifted its holdings in Mastercard Incorporated (NYSE:MA – Free Report) by 12.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 1,107 shares of the credit services provider’s stock after acquiring an additional 121 shares during the quarter. Foster & Motley Inc.’s holdings in Mastercard were worth $622,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also modified their holdings of MA. Brighton Jones LLC grew its stake in shares of Mastercard by 42.3% in the fourth quarter. Brighton Jones LLC now owns 6,824 shares of the credit services provider’s stock valued at $3,594,000 after acquiring an additional 2,028 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Mastercard by 19.9% in the first quarter. GAMMA Investing LLC now owns 15,007 shares of the credit services provider’s stock valued at $8,226,000 after acquiring an additional 2,493 shares in the last quarter. Advisor Resource Council acquired a new stake in Mastercard during the first quarter worth about $1,029,000. Nilsine Partners LLC grew its stake in Mastercard by 2.8% during the first quarter. Nilsine Partners LLC now owns 2,498 shares of the credit services provider’s stock worth $1,369,000 after buying an additional 68 shares in the last quarter. Finally, Garde Capital Inc. acquired a new stake in Mastercard during the first quarter worth about $90,000. 97.28% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of brokerages have issued reports on MA. Truist Financial reduced their price objective on shares of Mastercard from $640.00 to $612.00 and set a “buy” rating on the stock in a research note on Thursday, July 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of Mastercard in a research note on Wednesday, October 8th. Wolfe Research set a $655.00 price objective on shares of Mastercard in a research note on Monday, June 23rd. Morgan Stanley increased their price objective on shares of Mastercard from $639.00 to $661.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Finally, Seaport Res Ptn upgraded shares of Mastercard from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Mastercard currently has a consensus rating of “Buy” and a consensus target price of $634.04.
Insider Transactions at Mastercard
In related news, CFO J. Mehra Sachin sold 17,816 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $586.89, for a total value of $10,456,032.24. Following the completion of the transaction, the chief financial officer owned 31,234 shares in the company, valued at $18,330,922.26. This trade represents a 36.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is currently owned by company insiders.
Mastercard Trading Up 2.1%
MA opened at $561.42 on Monday. The company’s 50 day moving average is $580.22 and its 200-day moving average is $563.50. Mastercard Incorporated has a 1-year low of $465.59 and a 1-year high of $601.77. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 2.41. The company has a market cap of $507.53 billion, a P/E ratio of 37.86, a PEG ratio of 2.30 and a beta of 0.97.
Mastercard (NYSE:MA – Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The credit services provider reported $4.15 earnings per share for the quarter, beating analysts’ consensus estimates of $4.05 by $0.10. Mastercard had a net margin of 44.93% and a return on equity of 200.01%. The company had revenue of $8.13 billion for the quarter, compared to the consensus estimate of $7.95 billion. During the same period last year, the company posted $3.50 EPS. The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. Equities research analysts predict that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.
Mastercard Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Thursday, October 9th will be issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Thursday, October 9th. Mastercard’s dividend payout ratio (DPR) is 20.50%.
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.
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