Magnus Financial Group LLC increased its position in shares of Mastercard Inc (NYSE:MA) by 4.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,992 shares of the credit services provider’s stock after acquiring an additional 140 shares during the quarter. Magnus Financial Group LLC’s holdings in Mastercard were worth $792,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Joseph P. Lucia & Associates LLC acquired a new position in Mastercard in the second quarter valued at about $26,000. Ellis Investment Partners LLC acquired a new position in Mastercard in the first quarter valued at about $30,000. Evolution Wealth Advisors LLC acquired a new position in Mastercard in the second quarter valued at about $31,000. Delphi Private Advisors LLC acquired a new position in Mastercard in the second quarter valued at about $31,000. Finally, Field & Main Bank acquired a new position in Mastercard in the first quarter valued at about $38,000. 74.90% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have commented on MA shares. Morgan Stanley upped their target price on shares of Mastercard from $269.00 to $291.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Raymond James upped their target price on shares of Mastercard from $300.00 to $308.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Zacks Investment Research raised shares of Mastercard from a “hold” rating to a “buy” rating and set a $275.00 target price on the stock in a research report on Wednesday, May 15th. Wells Fargo & Co upped their target price on shares of Mastercard from $285.00 to $305.00 and gave the company an “outperform” rating in a research report on Wednesday, July 10th. Finally, Argus boosted their price target on shares of Mastercard to $320.00 and gave the stock an “average” rating in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $291.80.

In related news, Vice Chairman Ann Cairns sold 51,850 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $259.80, for a total transaction of $13,470,630.00. Following the sale, the insider now directly owns 134,120 shares in the company, valued at $34,844,376. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Foundation Mastercard sold 15,890 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $272.06, for a total transaction of $4,323,033.40. Following the sale, the insider now owns 112,030,712 shares in the company, valued at $30,479,075,506.72. The disclosure for this sale can be found here. Insiders have sold 201,511 shares of company stock worth $54,471,508 over the last 90 days. Insiders own 3.70% of the company’s stock.

NYSE:MA traded up $3.67 on Monday, reaching $278.03. 1,397,381 shares of the company’s stock were exchanged, compared to its average volume of 3,808,553. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 1.55. The firm has a market capitalization of $275.85 billion, a price-to-earnings ratio of 42.84, a price-to-earnings-growth ratio of 2.15 and a beta of 1.08. The business has a fifty day moving average of $273.83 and a 200-day moving average of $248.28. Mastercard Inc has a 52-week low of $171.89 and a 52-week high of $283.33.

Mastercard (NYSE:MA) last released its earnings results on Tuesday, July 30th. The credit services provider reported $1.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.82 by $0.07. Mastercard had a net margin of 42.71% and a return on equity of 135.02%. The firm had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same period in the prior year, the firm earned $1.66 earnings per share. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. As a group, equities analysts anticipate that Mastercard Inc will post 7.61 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Tuesday, July 9th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, July 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.47%. Mastercard’s payout ratio is 20.34%.

About Mastercard

Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers related products and services.

See Also: Cost of Capital Explained

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Institutional Ownership by Quarter for Mastercard (NYSE:MA)

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