PUREfi Wealth LLC Has $552,000 Position in Mastercard Incorporated $MA

PUREfi Wealth LLC grew its holdings in Mastercard Incorporated (NYSE:MA) by 11.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 982 shares of the credit services provider’s stock after purchasing an additional 101 shares during the quarter. PUREfi Wealth LLC’s holdings in Mastercard were worth $552,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in MA. Family Legacy Financial Solutions LLC acquired a new stake in Mastercard during the second quarter worth about $26,000. Flaharty Asset Management LLC acquired a new stake in Mastercard during the first quarter worth about $27,000. Keystone Global Partners LLC acquired a new stake in Mastercard during the first quarter worth about $31,000. Hughes Financial Services LLC acquired a new stake in Mastercard during the first quarter worth about $34,000. Finally, 1 North Wealth Services LLC acquired a new stake in Mastercard during the first quarter valued at approximately $44,000. 97.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on MA shares. Wells Fargo & Company lifted their price objective on Mastercard from $625.00 to $650.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Seaport Res Ptn raised Mastercard from a “hold” rating to a “strong-buy” rating in a report on Monday, July 14th. Wolfe Research set a $655.00 price objective on Mastercard in a report on Monday, June 23rd. Truist Financial decreased their price objective on Mastercard from $640.00 to $612.00 and set a “buy” rating on the stock in a report on Thursday, July 17th. Finally, KeyCorp lifted their price objective on Mastercard from $635.00 to $660.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Two 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. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $630.89.

Mastercard Stock Performance

NYSE:MA opened at $581.08 on Monday. Mastercard Incorporated has a 1 year low of $465.59 and a 1 year high of $601.77. The firm has a 50 day moving average of $580.26 and a 200-day moving average of $562.03. 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 stock has a market capitalization of $525.30 billion, a P/E ratio of 39.18, a price-to-earnings-growth ratio of 2.38 and a beta of 0.97.

Mastercard (NYSE:MA) last posted its quarterly earnings data on Thursday, July 31st. The credit services provider reported $4.15 earnings per share for the quarter, topping the consensus estimate of $4.05 by $0.10. Mastercard had a net margin of 44.93% and a return on equity of 200.01%. The firm 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 posted $3.50 EPS. Mastercard’s revenue was up 16.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Mastercard Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Thursday, October 9th will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, October 9th. Mastercard’s payout ratio is currently 20.50%.

Insider Buying and Selling

In other news, CFO J. Mehra Sachin sold 17,263 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $591.00, for a total value of $10,202,433.00. Following the completion of the transaction, the chief financial officer owned 31,234 shares of the company’s stock, valued at $18,459,294. The trade was a 35.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.09% of the company’s stock.

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.