Ascent Group LLC Raises Stock Holdings in Mastercard Incorporated (NYSE:MA)

Ascent Group LLC raised its stake in Mastercard Incorporated (NYSE:MA) by 3.3% during the second quarter, HoldingsChannel reports. The institutional investor owned 25,565 shares of the credit services provider’s stock after purchasing an additional 808 shares during the quarter. Mastercard comprises about 0.9% of Ascent Group LLC’s investment portfolio, making the stock its 15th biggest position. Ascent Group LLC’s holdings in Mastercard were worth $11,278,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. VitalStone Financial LLC raised its holdings in shares of Mastercard by 300.0% in the 4th quarter. VitalStone Financial LLC now owns 60 shares of the credit services provider’s stock valued at $26,000 after buying an additional 45 shares during the period. Westend Capital Management LLC acquired a new position in Mastercard in the 1st quarter valued at about $27,000. Palisade Asset Management LLC purchased a new stake in Mastercard during the first quarter worth about $27,000. Scarborough Advisors LLC acquired a new stake in shares of Mastercard during the fourth quarter worth about $28,000. Finally, Beaird Harris Wealth Management LLC purchased a new position in shares of Mastercard in the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Mastercard Stock Up 0.5 %

MA opened at $493.64 on Friday. The stock has a market capitalization of $458.90 billion, a P/E ratio of 39.24, a price-to-earnings-growth ratio of 1.96 and a beta of 1.10. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.14 and a current ratio of 1.14. Mastercard Incorporated has a one year low of $359.77 and a one year high of $501.80. The business’s 50-day simple moving average is $470.79 and its 200-day simple moving average is $461.86.

Mastercard (NYSE:MA) last issued its quarterly earnings data on Wednesday, July 31st. The credit services provider reported $3.59 earnings per share for the quarter, beating analysts’ consensus estimates of $3.51 by $0.08. The company had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $6.85 billion. Mastercard had a return on equity of 179.78% and a net margin of 46.45%. Analysts anticipate that Mastercard Incorporated will post 14.29 EPS for the current year.

Mastercard Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Wednesday, October 9th will be paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend is Wednesday, October 9th. Mastercard’s dividend payout ratio is currently 20.99%.

Insiders Place Their Bets

In other news, CFO J. Mehra Sachin sold 13,439 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $455.00, for a total transaction of $6,114,745.00. Following the completion of the sale, the chief financial officer now owns 27,304 shares in the company, valued at $12,423,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Mastercard news, major shareholder Foundation Mastercard sold 119,000 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $468.46, for a total transaction of $55,746,740.00. Following the completion of the transaction, the insider now owns 92,033,308 shares in the company, valued at approximately $43,113,923,465.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO J. Mehra Sachin sold 13,439 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $455.00, for a total transaction of $6,114,745.00. Following the transaction, the chief financial officer now owns 27,304 shares in the company, valued at $12,423,320. The disclosure for this sale can be found here. In the last three months, insiders have sold 340,809 shares of company stock valued at $159,610,703. Insiders own 0.10% of the company’s stock.

Analyst Ratings Changes

MA has been the topic of a number of research reports. Susquehanna increased their target price on shares of Mastercard from $535.00 to $540.00 and gave the stock a “positive” rating in a report on Thursday, August 1st. Bank of America increased their price objective on Mastercard from $480.00 to $509.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. JPMorgan Chase & Co. boosted their target price on Mastercard from $500.00 to $570.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Piper Sandler increased their price target on Mastercard from $531.00 to $536.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, BNP Paribas cut Mastercard from an “outperform” rating to a “neutral” rating and set a $470.00 price objective for the company. in a research note on Tuesday, September 3rd. Five equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $513.70.

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.