Mastercard Incorporated $MA Position Lessened by Moran Wealth Management LLC

Moran Wealth Management LLC trimmed its position in shares of Mastercard Incorporated (NYSE:MA) by 3.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,523 shares of the credit services provider’s stock after selling 1,013 shares during the period. Moran Wealth Management LLC’s holdings in Mastercard were worth $18,276,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Jag Capital Management LLC raised its holdings in shares of Mastercard by 0.9% during the second quarter. Jag Capital Management LLC now owns 43,680 shares of the credit services provider’s stock worth $24,546,000 after acquiring an additional 383 shares in the last quarter. Alpine Woods Capital Investors LLC increased its position in Mastercard by 443.6% during the second quarter. Alpine Woods Capital Investors LLC now owns 2,881 shares of the credit services provider’s stock worth $1,619,000 after buying an additional 2,351 shares during the last quarter. NorthRock Partners LLC increased its position in Mastercard by 8.6% during the second quarter. NorthRock Partners LLC now owns 11,190 shares of the credit services provider’s stock worth $6,286,000 after buying an additional 882 shares during the last quarter. Verdence Capital Advisors LLC increased its position in Mastercard by 1.2% during the second quarter. Verdence Capital Advisors LLC now owns 14,184 shares of the credit services provider’s stock worth $7,970,000 after buying an additional 170 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its position in Mastercard by 6.6% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 65,000 shares of the credit services provider’s stock worth $36,526,000 after buying an additional 3,998 shares during the last quarter. 97.28% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO J. Mehra Sachin sold 17,263 shares of Mastercard stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $591.00, for a total transaction of $10,202,433.00. Following the sale, the chief financial officer directly owned 31,234 shares of the company’s stock, valued at $18,459,294. This trade represents a 35.60% decrease in their ownership of the stock. The transaction 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.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Wells Fargo & Company increased their target price on shares of Mastercard from $625.00 to $650.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Truist Financial lowered their target price on shares of Mastercard from $640.00 to $612.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. TD Cowen reissued a “buy” rating and set a $645.00 target price on shares of Mastercard in a research report on Monday, August 11th. Morgan Stanley increased their target price on shares of Mastercard from $639.00 to $661.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Mastercard in a research report on Thursday, July 17th. They set a “buy” rating and a $650.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $634.04.

Mastercard Trading Up 0.3%

Shares of NYSE:MA opened at $558.89 on Tuesday. The company has a market cap of $505.24 billion, a P/E ratio of 37.69, a P/E/G ratio of 2.28 and a beta of 0.97. The stock’s 50-day moving average is $580.79 and its 200-day moving average is $563.03. Mastercard Incorporated has a 52-week low of $465.59 and a 52-week high of $601.77. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.16 and a current ratio of 1.16.

Mastercard (NYSE:MA) last issued its quarterly earnings results on Thursday, July 31st. The credit services provider reported $4.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.05 by $0.10. The company had revenue of $8.13 billion for the quarter, compared to the consensus estimate of $7.95 billion. Mastercard had a return on equity of 200.01% and a net margin of 44.93%.The firm’s revenue was up 16.8% compared to the same quarter last year. During the same period last year, the business posted $3.50 earnings per share. Equities research analysts predict that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Thursday, October 9th will be given a dividend of $0.76 per share. The ex-dividend date of this dividend is Thursday, October 9th. This represents a $3.04 dividend on an annualized basis and a yield of 0.5%. 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.