Algert Global LLC Takes Position in Mastercard Incorporated (NYSE:MA)

Algert Global LLC acquired a new stake in Mastercard Incorporated (NYSE:MA) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,119 shares of the credit services provider’s stock, valued at approximately $1,540,000.

Other large investors also recently modified their holdings of the company. Highline Wealth Partners LLC bought a new position in Mastercard during the third quarter worth about $25,000. Strategic Investment Solutions Inc. IL bought a new position in Mastercard during the second quarter worth about $34,000. Fairway Wealth LLC bought a new position in Mastercard during the second quarter worth about $35,000. First Personal Financial Services bought a new position in Mastercard during the third quarter worth about $39,000. Finally, Lowe Wealth Advisors LLC increased its position in Mastercard by 74.0% during the third quarter. Lowe Wealth Advisors LLC now owns 87 shares of the credit services provider’s stock worth $43,000 after acquiring an additional 37 shares during the period. 97.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Robert W. Baird increased their price objective on shares of Mastercard from $545.00 to $575.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. reduced their price objective on shares of Mastercard from $593.00 to $580.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Argus upgraded shares of Mastercard to a “strong-buy” rating in a research note on Thursday, August 1st. Piper Sandler reiterated an “overweight” rating and set a $575.00 price objective (up from $565.00) on shares of Mastercard in a research note on Friday, November 15th. Finally, Citigroup increased their price objective on shares of Mastercard from $566.00 to $572.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Four analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $549.16.

Mastercard Stock Up 0.7 %

Mastercard stock opened at $532.38 on Friday. The firm has a 50 day moving average price of $509.57 and a two-hundred day moving average price of $475.63. The firm has a market cap of $488.63 billion, a price-to-earnings ratio of 40.27, a PEG ratio of 2.34 and a beta of 1.10. The company has a debt-to-equity ratio of 2.36, a quick ratio of 1.29 and a current ratio of 1.29. Mastercard Incorporated has a 52-week low of $404.32 and a 52-week high of $534.03.

Mastercard (NYSE:MA) last released its quarterly earnings data on Thursday, October 31st. The credit services provider reported $3.89 earnings per share for the quarter, beating the consensus estimate of $3.73 by $0.16. The company had revenue of $7.37 billion during the quarter, compared to analyst estimates of $7.27 billion. Mastercard had a net margin of 45.26% and a return on equity of 178.27%. Mastercard’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.39 EPS. Equities analysts predict that Mastercard Incorporated will post 14.47 EPS for the current year.

Mastercard Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th were paid a $0.66 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $2.64 annualized dividend and a dividend yield of 0.50%. Mastercard’s dividend payout ratio is currently 19.97%.

Insider Activity

In other Mastercard news, CMO Venkata R. Madabhushi sold 4,685 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $489.86, for a total transaction of $2,294,994.10. Following the completion of the sale, the chief marketing officer now owns 15,031 shares in the company, valued at approximately $7,363,085.66. The trade was a 23.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.10% of the stock is currently owned by company insiders.

Mastercard 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.