Patten & Patten Inc. TN Has $3.07 Million Holdings in Mastercard Incorporated $MA

Patten & Patten Inc. TN reduced its holdings in Mastercard Incorporated (NYSE:MA) by 3.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,465 shares of the credit services provider’s stock after selling 194 shares during the quarter. Patten & Patten Inc. TN’s holdings in Mastercard were worth $3,071,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of MA. Family Legacy Financial Solutions LLC acquired a new position in shares of Mastercard in the 2nd quarter worth approximately $26,000. Flaharty Asset Management LLC acquired a new position in shares of Mastercard in the 1st quarter worth approximately $27,000. Keystone Global Partners LLC acquired a new position in shares of Mastercard in the 1st quarter worth approximately $31,000. Hughes Financial Services LLC acquired a new position in shares of Mastercard in the 1st quarter worth approximately $34,000. Finally, 1 North Wealth Services LLC acquired a new position in shares of Mastercard in the 1st quarter worth approximately $44,000. 97.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Mastercard

In other Mastercard news, CFO J. Mehra Sachin sold 17,263 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $18,459,294. The trade was a 35.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on MA. Seaport Res Ptn raised Mastercard from a “hold” rating to a “strong-buy” rating in a report on Monday, July 14th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Mastercard in a research report on Thursday, July 17th. They issued a “buy” rating and a $650.00 price objective for the company. Weiss Ratings restated a “buy (b)” rating on shares of Mastercard in a research report on Wednesday, October 8th. Robert W. Baird boosted 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, October 6th. Finally, Wells Fargo & Company boosted their price objective on shares of Mastercard from $625.00 to $650.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $634.04.

Mastercard Stock Performance

Shares of Mastercard stock opened at $563.30 on Thursday. The firm has a fifty day moving average of $580.71 and a two-hundred day moving average of $563.06. The stock has a market capitalization of $509.23 billion, a price-to-earnings ratio of 37.98, a PEG ratio of 2.33 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 company has a debt-to-equity ratio of 2.41, a quick ratio of 1.16 and a current ratio of 1.16.

Mastercard (NYSE:MA) last issued its earnings results 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%. The business’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.50 EPS. As a group, equities research analysts predict that Mastercard Incorporated will post 15.91 EPS for the current year.

Mastercard Announces Dividend

The firm also recently announced 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. The ex-dividend date is Thursday, October 9th. This represents a $3.04 annualized dividend and a dividend yield of 0.5%. Mastercard’s payout ratio is presently 20.50%.

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.