Strong Tower Advisory Services Has $3.47 Million Stake in Mastercard Incorporated $MA

Strong Tower Advisory Services raised its position in Mastercard Incorporated (NYSE:MA) by 2.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,182 shares of the credit services provider’s stock after acquiring an additional 153 shares during the quarter. Strong Tower Advisory Services’ holdings in Mastercard were worth $3,474,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of MA. Kingstone Capital Partners Texas LLC bought a new stake in Mastercard in the second quarter valued at approximately $11,421,213,000. Nuveen LLC acquired a new position in shares of Mastercard during the 1st quarter worth approximately $4,238,764,000. Wellington Management Group LLP raised its stake in Mastercard by 38.6% in the 1st quarter. Wellington Management Group LLP now owns 13,526,118 shares of the credit services provider’s stock valued at $7,413,936,000 after acquiring an additional 3,765,378 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Mastercard by 3,493.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 934,110 shares of the credit services provider’s stock valued at $524,914,000 after purchasing an additional 908,116 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Mastercard by 4.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,096,979 shares of the credit services provider’s stock worth $11,015,557,000 after purchasing an additional 907,184 shares during the period. Institutional investors own 97.28% of the company’s stock.

Insiders Place Their Bets

In related news, CFO J. Mehra Sachin sold 17,263 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $591.00, for a total transaction of $10,202,433.00. Following the completion of the sale, the chief financial officer owned 31,234 shares of the company’s stock, valued at $18,459,294. This represents a 35.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.09% of the stock is owned by corporate insiders.

Mastercard Stock Performance

Shares of NYSE MA opened at $556.80 on Friday. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.16 and a quick ratio of 1.16. The stock’s fifty day moving average price is $581.01 and its two-hundred day moving average price is $562.77. Mastercard Incorporated has a one year low of $465.59 and a one year high of $601.77. The firm has a market cap of $503.35 billion, a price-to-earnings ratio of 37.55, a P/E/G ratio of 2.31 and a beta of 0.97.

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 analysts’ consensus estimates of $4.05 by $0.10. The firm had revenue of $8.13 billion for the quarter, compared to analyst estimates of $7.95 billion. Mastercard had a return on equity of 200.01% and a net margin of 44.93%.The company’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the prior year, the firm posted $3.50 EPS. On average, equities analysts forecast that Mastercard Incorporated will post 15.91 EPS for the current 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 given 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 dividend payout ratio is currently 20.50%.

Wall Street Analyst Weigh In

A number of research firms have commented on MA. Wolfe Research set a $655.00 price objective on shares of Mastercard in a research report on Monday, June 23rd. Robert W. Baird lifted their price objective on shares of Mastercard from $640.00 to $660.00 and gave the stock an “outperform” rating in a research report on Monday. Truist Financial reduced their price objective on shares of Mastercard from $640.00 to $612.00 and set a “buy” rating for the company in a research report on Thursday, July 17th. Wall Street Zen cut shares of Mastercard from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Finally, Seaport Res Ptn raised shares of Mastercard from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 14th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Mastercard presently has an average rating of “Buy” and a consensus price target of $634.04.

Mastercard Company 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.