Joel Isaacson & Co. LLC Raises Stock Position in Mastercard Incorporated $MA

Joel Isaacson & Co. LLC increased its holdings in shares of Mastercard Incorporated (NYSE:MA) by 9.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 1,946 shares of the credit services provider’s stock after acquiring an additional 166 shares during the quarter. Joel Isaacson & Co. LLC’s holdings in Mastercard were worth $1,094,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Wise Wealth Partners increased its holdings in Mastercard by 113.8% in the second quarter. Wise Wealth Partners now owns 789 shares of the credit services provider’s stock valued at $443,000 after buying an additional 420 shares in the last quarter. Roundview Capital LLC increased its holdings in Mastercard by 1.7% in the second quarter. Roundview Capital LLC now owns 40,400 shares of the credit services provider’s stock valued at $22,702,000 after buying an additional 660 shares in the last quarter. Sunbeam Capital Management LLC increased its holdings in Mastercard by 2.9% in the second quarter. Sunbeam Capital Management LLC now owns 2,181 shares of the credit services provider’s stock valued at $1,226,000 after buying an additional 61 shares in the last quarter. CFM Wealth Partners LLC increased its holdings in Mastercard by 0.9% in the second quarter. CFM Wealth Partners LLC now owns 15,535 shares of the credit services provider’s stock valued at $8,730,000 after buying an additional 144 shares in the last quarter. Finally, KLP Kapitalforvaltning AS increased its holdings in Mastercard by 2.2% in the second quarter. KLP Kapitalforvaltning AS now owns 363,134 shares of the credit services provider’s stock valued at $204,060,000 after buying an additional 7,800 shares in the last quarter. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Insider Transactions at Mastercard

In related news, CFO J. Mehra Sachin sold 17,263 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $591.00, for a total transaction of $10,202,433.00. Following the completion of the sale, the chief financial officer owned 31,234 shares of the company’s stock, valued at approximately $18,459,294. This represents a 35.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MA shares. Truist Financial cut their price objective on shares of Mastercard from $640.00 to $612.00 and set a “buy” rating for the company in a report on Thursday, July 17th. TD Cowen reaffirmed a “buy” rating and issued a $645.00 price objective on shares of Mastercard in a report on Monday, August 11th. KeyCorp lifted their price objective on shares of Mastercard from $635.00 to $660.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Wolfe Research set a $655.00 price objective on shares of Mastercard in a report on Monday, June 23rd. Finally, Robert W. Baird boosted their target price on shares of Mastercard from $640.00 to $660.00 and gave the stock an “outperform” rating in a research note on Monday. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $634.04.

Mastercard Stock Up 0.1%

MA stock opened at $579.24 on Wednesday. The stock has a market capitalization of $523.64 billion, a P/E ratio of 39.06, a P/E/G ratio of 2.37 and a beta of 0.97. The firm has a 50-day simple moving average of $580.78 and a 200-day simple moving average of $562.45. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 2.41. Mastercard Incorporated has a 52 week low of $465.59 and a 52 week high of $601.77.

Mastercard (NYSE:MA) last released its earnings results on Thursday, July 31st. The credit services provider reported $4.15 EPS for the quarter, topping 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 business had revenue of $8.13 billion during the quarter, compared to analysts’ expectations of $7.95 billion. During the same quarter in the previous year, the company earned $3.50 earnings per share. The company’s quarterly revenue was up 16.8% on a year-over-year basis. Equities analysts forecast 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 paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, October 9th. Mastercard’s dividend payout ratio is currently 20.50%.

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.