FirstPurpose Wealth LLC increased its holdings in shares of Mastercard Incorporated (NYSE: MA – Get Rating) by 10.5% in the first quarter, Holdings Channel reports. The firm owned 1,879 shares of the credit services provider’s stock after acquiring an additional 178 shares during the period. FirstPurpose Wealth LLC’s holdings in Mastercard were worth $ 672,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. MCIA Inc grew its position in Mastercard by 18.6% in the first quarter. MCIA Inc now owns 8,379 shares of the credit services provider’s stock valued at $ 2,911,000 after acquiring an additional 1,313 shares in the last quarter. EP Wealth Advisors LLC grew its position in Mastercard by 10.6% in the third quarter. EP Wealth Advisors LLC now owns 4,062 shares of the credit services provider’s stock valued at $ 1,412,000 after acquiring an additional 389 shares in the last quarter. Summit X LLC grew its position in Mastercard by 3.6% in the fourth quarter. Summit X LLC now owns 19,961 shares of the credit services provider’s stock valued at $ 7,179,000 after acquiring an additional 692 shares in the last quarter. Blue Bell Private Wealth Management LLC acquired a new stake in Mastercard in the fourth quarter valued at approximately $ 54,000. Finally, Orion Portfolio Solutions LLC grew its position in Mastercard by 29.3% in the fourth quarter. Orion Portfolio Solutions LLC now owns 31,919 shares of the credit services provider’s stock valued at $ 11,469,000 after acquiring an additional 7,239 shares in the last quarter. 74.94% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have issued reports on MA. Morgan Stanley lowered their price objective on Mastercard shares from $ 449.00 to $ 442.00 and set an “overweight” rating for the company in a research report on Thursday, April 21st. StockNews.com initiated coverage on shares of Mastercard in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Piper Sandler downgraded shares of Mastercard from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $ 360.00 to $ 357.00 in a research report on Friday, April 29th. Bank of America decreased their price target on Mastercard shares from $ 416.00 to $ 402.00 and set a “buy” rating for the company in a research report on Monday, April 18th. Finally, The Goldman Sachs Group initiated coverage on shares of Mastercard in a research report on Tuesday, May 17th. They set a “buy” rating and a $ 460.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have assigned a buy rating to the company stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $ 422.94.
In related news, major shareholder Foundation Mastercard sold 106,330 shares of Mastercard stock in a transaction dated Friday, May 13th. The shares were sold at an average price of $ 333.03, for a total transaction of $ 35,411,079.90. Following the sale, the insider now directly owns 103,629,316 shares in the company, valued at $ 34,511,671,107.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Raj Seshadri sold 7,000 shares of Mastercard stock in a transaction dated Friday, April 29th. The shares were sold at an average price of $ 367.68, for a total transaction of $ 2,573,760.00. Following the sale, the insider now owns 10,439 shares in the company, valued at $ 3,838,211.52. The disclosure for this sale can be found here. Insiders sold 327,543 shares of company stock worth $ 108,482,025 over the last quarter. 0.33% of the stock is currently owned by company insiders.
MA stock opened at $ 330.50 on Monday. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a market capitalization of $ 321.46 billion, a price-to-earnings ratio of 34.39, a PEG ratio of 1.56 and a beta of 1.01. Mastercard Incorporated has a 1 year low of $ 303.65 and a 1 year high of $ 399.92. The stock’s fifty day moving average is $ 343.59 and its two-hundred day moving average is $ 353.01.
Mastercard (NYSE: MA – Get Rating) last posted its earnings results on Thursday, April 28th. The credit services provider reported $ 2.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $ 2.17 by $ 0.59. The company had revenue of $ 5.17 billion for the quarter, compared to analysts’ expectations of $ 4.90 billion. Mastercard had a return on equity of 133.72% and a net margin of 47.70%. The firm’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same period last year, the business posted $ 1.74 earnings per share. As a group, analysts predict that Mastercard Incorporated will post 10.52 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 9th. Shareholders of record on Friday, July 8th will be paid a $ 0.49 dividend. This represents a $ 1.96 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date is Thursday, July 7th. Mastercard’s payout ratio is 20.40%.
About Mastercard: (Get Rating)
Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers other payment-related products and services.
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