Mastercard Incorporated $MA Shares Acquired by Drake & Associates LLC

Drake & Associates LLC grew its stake in Mastercard Incorporated (NYSE:MA) by 22.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,141 shares of the credit services provider’s stock after acquiring an additional 206 shares during the period. Drake & Associates LLC’s holdings in Mastercard were worth $641,000 as of its most recent filing with the SEC.

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

Insider Buying and Selling

In other news, CFO J. Mehra Sachin sold 17,816 shares of the company’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $586.89, for a total value of $10,456,032.24. Following the completion of the sale, the chief financial officer directly owned 31,234 shares of the company’s stock, valued at approximately $18,330,922.26. This represents a 36.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Mastercard Trading Down 0.3%

NYSE:MA opened at $578.91 on Tuesday. The company has a market capitalization of $523.34 billion, a PE ratio of 39.04, a P/E/G ratio of 2.38 and a beta of 0.97. Mastercard Incorporated has a 52-week low of $465.59 and a 52-week high of $601.77. The stock’s 50 day moving average price is $580.46 and its 200 day moving average price is $562.33. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 2.41.

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, beating the consensus estimate of $4.05 by $0.10. The business had revenue of $8.13 billion during the quarter, compared to the consensus estimate of $7.95 billion. Mastercard had a return on equity of 200.01% and a net margin of 44.93%.The company’s revenue was up 16.8% compared to the same quarter last year. During the same period in the prior year, the company earned $3.50 earnings per share. On average, research analysts anticipate that Mastercard Incorporated will post 15.91 EPS for the current year.

Mastercard Announces Dividend

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

Analysts Set New Price Targets

Several analysts recently weighed in on MA shares. KeyCorp raised their target price on shares of Mastercard from $635.00 to $660.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Wolfe Research set a $655.00 price objective on shares of Mastercard in a report on Monday, June 23rd. TD Cowen reaffirmed a “buy” rating and set a $645.00 price objective on shares of Mastercard in a research report on Monday, August 11th. Robert W. Baird increased their target price on Mastercard from $640.00 to $660.00 and gave the company an “outperform” rating in a report on Monday. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Mastercard in a report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $634.04.

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.