Mastercard Incorporated (NYSE:MA) Shares Bought by Connecticut Wealth Management LLC

Connecticut Wealth Management LLC raised its stake in Mastercard Incorporated (NYSE:MA) by 27.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,066 shares of the credit services provider’s stock after buying an additional 446 shares during the quarter. Connecticut Wealth Management LLC’s holdings in Mastercard were worth $881,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Activest Wealth Management raised its position in Mastercard by 87.4% during the fourth quarter. Activest Wealth Management now owns 536 shares of the credit services provider’s stock worth $229,000 after acquiring an additional 250 shares during the last quarter. Cross Staff Investments Inc lifted its position in shares of Mastercard by 16.3% in the fourth quarter. Cross Staff Investments Inc now owns 3,148 shares of the credit services provider’s stock valued at $1,343,000 after acquiring an additional 441 shares in the last quarter. Everett Harris & Co. CA boosted its stake in shares of Mastercard by 0.5% during the fourth quarter. Everett Harris & Co. CA now owns 49,539 shares of the credit services provider’s stock valued at $21,129,000 after acquiring an additional 252 shares during the last quarter. Atlantic Union Bankshares Corp lifted its holdings in Mastercard by 23.9% in the 4th quarter. Atlantic Union Bankshares Corp now owns 12,124 shares of the credit services provider’s stock valued at $5,171,000 after purchasing an additional 2,337 shares in the last quarter. Finally, J.Safra Asset Management Corp grew its holdings in shares of Mastercard by 7.2% during the fourth quarter. J.Safra Asset Management Corp now owns 490 shares of the credit services provider’s stock worth $209,000 after buying an additional 33 shares in the last quarter. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Mastercard Stock Up 0.6 %

Shares of NYSE MA traded up $2.48 during trading on Friday, reaching $443.58. 3,711,610 shares of the stock were exchanged, compared to its average volume of 2,507,301. The business’s 50-day moving average price is $469.57 and its 200 day moving average price is $438.31. The company has a market capitalization of $413.81 billion, a price-to-earnings ratio of 35.26, a price-to-earnings-growth ratio of 1.72 and a beta of 1.08. Mastercard Incorporated has a twelve month low of $357.85 and a twelve month high of $490.00. The company has a quick ratio of 1.17, a current ratio of 1.09 and a debt-to-equity ratio of 1.86.

Mastercard (NYSE:MA) last issued its quarterly earnings data on Wednesday, May 1st. The credit services provider reported $3.31 EPS for the quarter, topping analysts’ consensus estimates of $3.22 by $0.09. The firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.34 billion. Mastercard had a net margin of 46.09% and a return on equity of 183.70%. The firm’s revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.80 EPS. As a group, equities analysts forecast that Mastercard Incorporated will post 14.22 EPS for the current fiscal year.

Mastercard Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Tuesday, April 9th will be paid a dividend of $0.66 per share. The ex-dividend date is Monday, April 8th. This represents a $2.64 dividend on an annualized basis and a yield of 0.60%. Mastercard’s dividend payout ratio (DPR) is presently 20.99%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. William Blair restated an “outperform” rating on shares of Mastercard in a research report on Wednesday, January 31st. Oppenheimer reiterated an “outperform” rating and set a $510.00 target price on shares of Mastercard in a research report on Thursday, February 1st. Wells Fargo & Company lifted their price target on Mastercard from $490.00 to $530.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. The Goldman Sachs Group raised their target price on shares of Mastercard from $433.00 to $482.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Finally, Morgan Stanley dropped their price target on shares of Mastercard from $536.00 to $524.00 and set an “overweight” rating for the company in a research report on Thursday. Two investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $493.55.

Insiders Place Their Bets

In other news, major shareholder Foundation Mastercard sold 116,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $445.04, for a total transaction of $51,624,640.00. Following the completion of the transaction, the insider now directly owns 96,651,308 shares in the company, valued at approximately $43,013,698,112.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Michael Miebach sold 7,851 shares of Mastercard stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $475.92, for a total value of $3,736,447.92. Following the completion of the transaction, the chief executive officer now directly owns 47,640 shares in the company, valued at $22,672,828.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Foundation Mastercard sold 116,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $445.04, for a total value of $51,624,640.00. Following the completion of the sale, the insider now directly owns 96,651,308 shares of the company’s stock, valued at $43,013,698,112.32. The disclosure for this sale can be found here. Insiders have sold 583,088 shares of company stock worth $266,873,978 in the last three months. 0.13% of the stock is owned by insiders.

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.