Mastercard Incorporated $MA is Cove Private Wealth LLC’s 10th Largest Position

Cove Private Wealth LLC grew its stake in shares of Mastercard Incorporated (NYSE:MA) by 45.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,874 shares of the credit services provider’s stock after buying an additional 2,450 shares during the period. Mastercard accounts for 1.6% of Cove Private Wealth LLC’s investment portfolio, making the stock its 10th biggest position. Cove Private Wealth LLC’s holdings in Mastercard were worth $4,425,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in MA. Family Legacy Financial Solutions LLC purchased a new stake in shares of Mastercard in the second quarter valued at $26,000. Flaharty Asset Management LLC purchased a new stake in shares of Mastercard in the first quarter valued at $27,000. Keystone Global Partners LLC purchased a new stake in shares of Mastercard in the first quarter valued at $31,000. Hughes Financial Services LLC purchased a new stake in shares of Mastercard in the first quarter valued at $34,000. Finally, 1 North Wealth Services LLC purchased a new stake in shares of Mastercard in the first quarter valued at $44,000. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Insider Buying and Selling at Mastercard

In other Mastercard news, insider Linda Pistecchia Kirkpatrick sold 958 shares of the company’s stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $560.00, for a total transaction of $536,480.00. Following the sale, the insider owned 23,624 shares in the company, valued at $13,229,440. This represents a 3.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO J. Mehra Sachin sold 17,263 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $591.00, for a total value of $10,202,433.00. Following the sale, the chief financial officer owned 31,234 shares in the company, valued at $18,459,294. The trade was a 35.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,349 shares of company stock worth $21,372,994 over the last quarter. 0.09% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on MA shares. Deutsche Bank Aktiengesellschaft started coverage on Mastercard in a research report on Thursday, July 17th. They issued a “buy” rating and a $650.00 price objective for the company. 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. KeyCorp boosted their price target on Mastercard from $635.00 to $660.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. TD Cowen reissued a “buy” rating and set a $645.00 price target on shares of Mastercard in a research report on Monday, August 11th. Finally, UBS Group boosted their price target on Mastercard from $660.00 to $670.00 and gave the company a “buy” rating in a research report on Tuesday, June 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $630.89.

Mastercard Trading Down 0.3%

Shares of MA opened at $565.63 on Friday. The stock’s 50-day moving average is $579.00 and its two-hundred day moving average is $560.04. The stock has a market cap of $511.34 billion, a PE ratio of 38.14, a P/E/G ratio of 2.33 and a beta of 0.99. Mastercard Incorporated has a 12 month low of $465.59 and a 12 month high of $601.77. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.16 and a quick ratio of 1.16.

Mastercard (NYSE:MA) last issued its quarterly earnings data on Thursday, July 31st. The credit services provider reported $4.15 EPS for the quarter, topping analysts’ consensus estimates of $4.05 by $0.10. Mastercard had a return on equity of 200.01% and a net margin of 44.93%.The company had revenue of $8.13 billion for the quarter, compared to analysts’ expectations of $7.95 billion. During the same quarter in the previous year, the firm posted $3.50 earnings per share. The firm’s quarterly revenue was up 16.8% on a year-over-year basis. Equities analysts forecast that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Thursday, October 9th will be paid a dividend of $0.76 per share. 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%.

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.