Ignite Planners LLC Has $2.37 Million Position in Mastercard Incorporated $MA

Ignite Planners LLC boosted its holdings in Mastercard Incorporated (NYSE:MA) by 1.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,289 shares of the credit services provider’s stock after buying an additional 52 shares during the period. Ignite Planners LLC’s holdings in Mastercard were worth $2,371,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of MA. Family Legacy Financial Solutions LLC acquired a new stake in Mastercard in the second quarter worth $26,000. Flaharty Asset Management LLC bought a new stake in shares of Mastercard during the first quarter worth $27,000. Keystone Global Partners LLC bought a new stake in shares of Mastercard during the first quarter worth $31,000. Hughes Financial Services LLC bought a new stake in shares of Mastercard during the first quarter worth $34,000. Finally, 1 North Wealth Services LLC bought a new position in Mastercard in the first quarter valued at $44,000. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on MA. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Mastercard in a research report on Friday, August 1st. Wells Fargo & Company increased their price target on shares of Mastercard from $625.00 to $650.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Royal Bank Of Canada increased their price target on shares of Mastercard from $650.00 to $656.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Wall Street Zen cut shares of Mastercard from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Mastercard in a report on Thursday, July 17th. They issued a “buy” rating and a $650.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Mastercard presently has a consensus rating of “Buy” and an average target price of $634.04.

Insider Transactions at Mastercard

In related news, CFO J. Mehra Sachin sold 17,816 shares of the company’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 transaction 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 $18,330,922.26. This represents a 36.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

Mastercard Price Performance

Shares of Mastercard stock opened at $576.40 on Thursday. The company has a 50-day simple moving average of $581.11 and a two-hundred day simple moving average of $562.55. The stock has a market capitalization of $521.07 billion, a price-to-earnings ratio of 38.87, a price-to-earnings-growth ratio of 2.38 and a beta of 0.97. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 2.41. Mastercard Incorporated has a twelve month low of $465.59 and a twelve month high of $601.77.

Mastercard (NYSE:MA) last issued its earnings results on Thursday, July 31st. The credit services provider reported $4.15 EPS for the quarter, beating the consensus estimate of $4.05 by $0.10. The company 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 for the quarter was up 16.8% compared to the same quarter last year. During the same period 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%.

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.