Financial Advocates Investment Management boosted its position in Mastercard Incorporated (NYSE:MA – Free Report) by 2.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,508 shares of the credit services provider’s stock after purchasing an additional 129 shares during the quarter. Financial Advocates Investment Management’s holdings in Mastercard were worth $3,214,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in MA. International Assets Investment Management LLC boosted its stake in Mastercard by 120,665.3% in the 3rd quarter. International Assets Investment Management LLC now owns 8,041,758 shares of the credit services provider’s stock valued at $3,971,020,000 after purchasing an additional 8,035,099 shares during the period. Swedbank AB acquired a new position in Mastercard in the 1st quarter valued at $660,652,000. PineStone Asset Management Inc. raised its holdings in Mastercard by 145.6% in the 2nd quarter. PineStone Asset Management Inc. now owns 1,777,468 shares of the credit services provider’s stock valued at $784,148,000 after acquiring an additional 1,053,616 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in Mastercard in the 2nd quarter valued at $259,071,000. Finally, Capital World Investors raised its holdings in Mastercard by 13.3% in the 1st quarter. Capital World Investors now owns 3,293,617 shares of the credit services provider’s stock valued at $1,586,107,000 after acquiring an additional 387,317 shares in the last quarter. 97.28% of the stock is currently owned by institutional investors.
Insider Activity
In related news, CMO Venkata R. Madabhushi sold 4,685 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $493.10, for a total value of $2,310,173.50. Following the completion of the transaction, the chief marketing officer now directly owns 17,118 shares of the company’s stock, valued at approximately $8,440,885.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Mastercard news, major shareholder Foundation Mastercard sold 119,000 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $468.46, for a total value of $55,746,740.00. Following the completion of the sale, the insider now directly owns 92,033,308 shares of the company’s stock, valued at $43,113,923,465.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CMO Venkata R. Madabhushi sold 4,685 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $493.10, for a total transaction of $2,310,173.50. Following the completion of the sale, the chief marketing officer now directly owns 17,118 shares of the company’s stock, valued at $8,440,885.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 340,809 shares of company stock valued at $159,610,703 in the last three months. Company insiders own 0.10% of the company’s stock.
Mastercard Stock Performance
Mastercard (NYSE:MA – Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The credit services provider reported $3.59 EPS for the quarter, beating the consensus estimate of $3.51 by $0.08. Mastercard had a net margin of 46.45% and a return on equity of 179.78%. The firm had revenue of $6.96 billion during the quarter, compared to analyst estimates of $6.85 billion. Equities analysts forecast that Mastercard Incorporated will post 14.32 earnings per share for the current fiscal year.
Mastercard Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th will be given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend is Wednesday, October 9th. Mastercard’s dividend payout ratio is currently 20.18%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on the company. Robert W. Baird boosted their price target on Mastercard from $545.00 to $575.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Citigroup boosted their price target on Mastercard from $528.00 to $538.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Piper Sandler boosted their price target on Mastercard from $531.00 to $536.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. boosted their price target on Mastercard from $570.00 to $593.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Finally, Barclays boosted their price target on Mastercard from $536.00 to $576.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $525.68.
Read Our Latest Research Report on Mastercard
Mastercard 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.
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