Precedent Wealth Partners LLC Sells 53 Shares of Mastercard Incorporated $MA

Precedent Wealth Partners LLC reduced its position in shares of Mastercard Incorporated (NYSE:MA) by 10.1% during the second quarter, Holdings Channel reports. The firm owned 473 shares of the credit services provider’s stock after selling 53 shares during the period. Precedent Wealth Partners LLC’s holdings in Mastercard were worth $266,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Franklin Street Advisors Inc. NC bought a new position in shares of Mastercard during the second quarter valued at about $352,000. Stock Yards Bank & Trust Co. increased its holdings in Mastercard by 9.1% during the second quarter. Stock Yards Bank & Trust Co. now owns 13,701 shares of the credit services provider’s stock worth $7,699,000 after buying an additional 1,139 shares during the last quarter. Whelan Financial increased its holdings in Mastercard by 30.9% during the second quarter. Whelan Financial now owns 1,330 shares of the credit services provider’s stock worth $748,000 after buying an additional 314 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in Mastercard by 20.8% during the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,523 shares of the credit services provider’s stock worth $3,665,000 after buying an additional 1,121 shares during the last quarter. Finally, DHJJ Financial Advisors Ltd. increased its holdings in Mastercard by 21.4% during the second quarter. DHJJ Financial Advisors Ltd. now owns 827 shares of the credit services provider’s stock worth $465,000 after buying an additional 146 shares during the last quarter. 97.28% of the stock is owned by institutional investors.

Insider Activity at Mastercard

In related news, CFO J. Mehra Sachin sold 17,816 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $586.89, for a total transaction of $10,456,032.24. Following the completion of the transaction, the chief financial officer owned 31,234 shares of the company’s stock, valued at approximately $18,330,922.26. The trade was a 36.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Julius Genachowski sold 312 shares of the business’s stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $570.67, for a total transaction of $178,049.04. Following the transaction, the director directly owned 8,469 shares of the company’s stock, valued at approximately $4,833,004.23. This represents a 3.55% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,391 shares of company stock valued at $20,836,514. 0.09% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Seaport Res Ptn upgraded shares of Mastercard from a “hold” rating to a “strong-buy” rating in a report on Monday, July 14th. TD Cowen restated a “buy” rating and set a $645.00 price objective on shares of Mastercard in a report on Monday, August 11th. Wall Street Zen downgraded shares of Mastercard from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Wolfe Research set a $655.00 target price on shares of Mastercard in a research note on Monday, June 23rd. Finally, Morgan Stanley lifted their target price on shares of Mastercard from $639.00 to $661.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Mastercard currently has an average rating of “Buy” and a consensus target price of $630.89.

Mastercard Price Performance

Shares of NYSE:MA opened at $581.08 on Friday. The company has a 50 day moving average of $580.26 and a 200 day moving average of $561.85. The stock has a market cap of $525.30 billion, a P/E ratio of 39.18, a P/E/G ratio of 2.38 and a beta of 0.97. Mastercard Incorporated has a 12 month low of $465.59 and a 12 month high of $601.77. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 2.41.

Mastercard (NYSE:MA) last issued its quarterly earnings data on Thursday, July 31st. The credit services provider reported $4.15 EPS for the quarter, beating the consensus estimate of $4.05 by $0.10. The company had revenue of $8.13 billion during the quarter, compared to analysts’ expectations of $7.95 billion. Mastercard had a net margin of 44.93% and a return on equity of 200.01%. Mastercard’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.50 earnings per share. As a group, sell-side analysts forecast that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Mastercard Dividend Announcement

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

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.