Atlantic Union Bankshares Corp Acquires 362 Shares of Mastercard Incorporated (NYSE:MA)

Atlantic Union Bankshares Corp grew its stake in shares of Mastercard Incorporated (NYSE:MA) by 1.2% in the third quarter, Holdings Channel reports. The firm owned 30,835 shares of the credit services provider’s stock after acquiring an additional 362 shares during the period. Mastercard accounts for approximately 0.9% of Atlantic Union Bankshares Corp’s holdings, making the stock its 29th largest position. Atlantic Union Bankshares Corp’s holdings in Mastercard were worth $15,226,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Goldstein Advisors LLC lifted its stake in shares of Mastercard by 1.3% during the 3rd quarter. Goldstein Advisors LLC now owns 1,516 shares of the credit services provider’s stock worth $749,000 after purchasing an additional 20 shares during the period. McLean Asset Management Corp grew its stake in shares of Mastercard by 1.3% during the 3rd quarter. McLean Asset Management Corp now owns 1,677 shares of the credit services provider’s stock valued at $834,000 after buying an additional 21 shares during the period. Oldfather Financial Services LLC increased its holdings in shares of Mastercard by 2.6% during the 3rd quarter. Oldfather Financial Services LLC now owns 827 shares of the credit services provider’s stock worth $408,000 after buying an additional 21 shares during the last quarter. Transcendent Capital Group LLC raised its holdings in shares of Mastercard by 4.8% in the 3rd quarter. Transcendent Capital Group LLC now owns 455 shares of the credit services provider’s stock worth $225,000 after purchasing an additional 21 shares during the period. Finally, Guerra Pan Advisors LLC lifted its stake in shares of Mastercard by 1.7% in the 3rd quarter. Guerra Pan Advisors LLC now owns 1,225 shares of the credit services provider’s stock valued at $605,000 after purchasing an additional 21 shares in the last quarter. 97.28% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on MA shares. TD Cowen raised their price target on shares of Mastercard from $533.00 to $567.00 and gave the company a “buy” rating in a report on Friday, November 15th. William Blair reissued an “outperform” rating on shares of Mastercard in a research note on Monday. Deutsche Bank Aktiengesellschaft increased their price target on Mastercard from $510.00 to $580.00 and gave the company a “buy” rating in a report on Friday, November 1st. Bank of America lifted their price objective on shares of Mastercard from $480.00 to $509.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Finally, Macquarie raised their price target on shares of Mastercard from $505.00 to $565.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $549.16.

Insider Activity at Mastercard

In other news, CMO Venkata R. Madabhushi sold 4,685 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $489.86, for a total value of $2,294,994.10. Following the transaction, the chief marketing officer now directly owns 15,031 shares of the company’s stock, valued at approximately $7,363,085.66. This represents a 23.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.10% of the stock is owned by insiders.

Mastercard Stock Performance

Shares of MA opened at $532.38 on Friday. The company has a debt-to-equity ratio of 2.36, a current ratio of 1.29 and a quick ratio of 1.29. The firm’s 50 day moving average is $509.57 and its 200-day moving average is $475.63. Mastercard Incorporated has a 12-month low of $404.32 and a 12-month high of $534.03. The stock has a market capitalization of $488.63 billion, a P/E ratio of 40.27, a P/E/G ratio of 2.37 and a beta of 1.10.

Mastercard (NYSE:MA) last released its quarterly earnings data on Thursday, October 31st. The credit services provider reported $3.89 earnings per share for the quarter, topping the consensus estimate of $3.73 by $0.16. The business had revenue of $7.37 billion during the quarter, compared to analyst estimates of $7.27 billion. Mastercard had a return on equity of 178.27% and a net margin of 45.26%. The company’s revenue was up 12.8% compared to the same quarter last year. During the same period last year, the company posted $3.39 EPS. Equities research analysts anticipate that Mastercard Incorporated will post 14.47 EPS for the current fiscal year.

Mastercard Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th were issued a dividend of $0.66 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.50%. Mastercard’s dividend payout ratio is 19.97%.

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.