Waterfront Wealth Inc. Has $1.39 Million Stock Holdings in Mastercard Incorporated $MA

Waterfront Wealth Inc. lifted its position in shares of Mastercard Incorporated (NYSE:MA) by 13.1% during the 2nd quarter, Holdings Channel reports. The firm owned 2,474 shares of the credit services provider’s stock after purchasing an additional 286 shares during the quarter. Waterfront Wealth Inc.’s holdings in Mastercard were worth $1,390,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of MA. Vanguard Group Inc. boosted its holdings in shares of Mastercard by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 77,544,675 shares of the credit services provider’s stock worth $42,503,787,000 after buying an additional 365,537 shares during the period. Kingstone Capital Partners Texas LLC bought a new stake in shares of Mastercard during the 2nd quarter worth about $11,421,213,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Mastercard by 4.7% during the 1st 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 buying an additional 907,184 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Mastercard by 38.6% during the 1st quarter. Wellington Management Group LLP now owns 13,526,118 shares of the credit services provider’s stock worth $7,413,936,000 after buying an additional 3,765,378 shares during the period. Finally, Nuveen LLC bought a new stake in shares of Mastercard during the 1st quarter worth about $4,238,764,000. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MA has been the subject of several research analyst reports. Royal Bank Of Canada lifted their target price on shares of Mastercard from $650.00 to $656.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. Truist Financial set a $638.00 target price on shares of Mastercard in a report on Friday. TD Cowen reaffirmed a “buy” rating and set a $645.00 target price on shares of Mastercard in a report on Monday, August 11th. Wells Fargo & Company upgraded shares of Mastercard to a “strong-buy” rating in a research note on Wednesday, October 22nd. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Mastercard in a research note on Friday, August 1st. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Mastercard presently has an average rating of “Buy” and an average price target of $638.96.

Mastercard Price Performance

Shares of Mastercard stock opened at $565.79 on Wednesday. Mastercard Incorporated has a twelve month low of $465.59 and a twelve month high of $601.77. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 2.41. The company has a 50-day simple moving average of $578.85 and a two-hundred day simple moving average of $567.21. The stock has a market capitalization of $511.48 billion, a price-to-earnings ratio of 38.15, a price-to-earnings-growth ratio of 2.34 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 earnings per share for the quarter, topping the consensus estimate of $4.05 by $0.10. The business 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 was up 16.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.50 EPS. Analysts forecast that Mastercard Incorporated will post 15.91 EPS for the current year.

Mastercard Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Stockholders 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 dividend yield of 0.5%. Mastercard’s payout ratio is presently 20.50%.

Insider Activity at Mastercard

In other 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 value of $10,456,032.24. Following the completion of the transaction, the chief financial officer directly owned 31,234 shares in the company, valued at approximately $18,330,922.26. The trade was a 36.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.09% of the company’s stock.

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.