Avidian Wealth Enterprises LLC Raises Holdings in Mastercard Incorporated $MA

Avidian Wealth Enterprises LLC lifted its position in shares of Mastercard Incorporated (NYSE:MA) by 11.7% during the second quarter, Holdings Channel reports. The firm owned 2,255 shares of the credit services provider’s stock after acquiring an additional 236 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Mastercard were worth $1,267,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale grew its stake in Mastercard by 1.0% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,322,367 shares of the credit services provider’s stock worth $736,889,000 after buying an additional 12,641 shares during the last quarter. Journey Advisory Group LLC lifted its stake in Mastercard by 11.2% in the second quarter. Journey Advisory Group LLC now owns 3,243 shares of the credit services provider’s stock valued at $1,822,000 after buying an additional 327 shares during the last quarter. Bogart Wealth LLC boosted its holdings in shares of Mastercard by 2.2% in the second quarter. Bogart Wealth LLC now owns 20,059 shares of the credit services provider’s stock valued at $11,272,000 after acquiring an additional 427 shares during the period. TRB Advisors LP purchased a new position in shares of Mastercard during the second quarter worth approximately $5,619,000. Finally, Canvas Wealth Advisors LLC increased its holdings in shares of Mastercard by 2.3% in the 2nd quarter. Canvas Wealth Advisors LLC now owns 1,666 shares of the credit services provider’s stock valued at $947,000 after acquiring an additional 38 shares during the period. 97.28% of the stock is owned by institutional investors and hedge funds.

Mastercard Price Performance

Shares of NYSE:MA opened at $572.14 on Wednesday. Mastercard Incorporated has a 52 week low of $465.59 and a 52 week high of $601.77. The company has a 50-day moving average price of $580.03 and a 200 day moving average price of $564.09. The company has a market cap of $517.22 billion, a P/E ratio of 38.58, a PEG ratio of 2.32 and a beta of 0.97. 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 released its earnings results on Thursday, July 31st. The credit services provider reported $4.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.05 by $0.10. The company had revenue of $8.13 billion for the quarter, compared to analysts’ expectations of $7.95 billion. Mastercard had a return on equity of 200.01% and a net margin of 44.93%.The firm’s quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.50 EPS. Research analysts predict that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Dividend Announcement

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 $0.76 dividend. The ex-dividend date is Thursday, October 9th. This represents a $3.04 annualized dividend and a yield of 0.5%. Mastercard’s dividend payout ratio is presently 20.50%.

Insider Buying and Selling

In other Mastercard news, CFO J. Mehra Sachin sold 17,263 shares of the business’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 sale, the chief financial officer directly 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

MA has been the subject of a number of recent research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Mastercard in a research note on Wednesday, October 8th. Seaport Res Ptn raised shares of Mastercard from a “hold” rating to a “strong-buy” rating in a report on Monday, July 14th. Royal Bank Of Canada raised their price target on Mastercard from $650.00 to $656.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. Morgan Stanley boosted their price target on Mastercard from $639.00 to $661.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Finally, Truist Financial decreased their price objective on Mastercard from $640.00 to $612.00 and set a “buy” rating for the company in a research report on Thursday, July 17th. Two research 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 stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $634.74.

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.