Ingalls & Snyder LLC Has $9.91 Million Stock Position in Mastercard Incorporated $MA

Ingalls & Snyder LLC boosted its position in Mastercard Incorporated (NYSE:MA) by 2.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 17,636 shares of the credit services provider’s stock after purchasing an additional 365 shares during the period. Ingalls & Snyder LLC’s holdings in Mastercard were worth $9,910,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Mastercard by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 77,544,675 shares of the credit services provider’s stock valued at $42,503,787,000 after purchasing an additional 365,537 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in Mastercard in the 2nd quarter valued at about $11,421,213,000. Price T Rowe Associates Inc. MD lifted its stake in Mastercard by 4.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,096,979 shares of the credit services provider’s stock valued at $11,015,557,000 after purchasing an additional 907,184 shares during the last quarter. Wellington Management Group LLP lifted its stake in Mastercard by 38.6% in the 1st quarter. Wellington Management Group LLP now owns 13,526,118 shares of the credit services provider’s stock valued at $7,413,936,000 after purchasing an additional 3,765,378 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in Mastercard during the first quarter worth approximately $4,238,764,000. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MA shares. Truist Financial set a $638.00 price objective on shares of Mastercard in a research report on Friday. Deutsche Bank Aktiengesellschaft started coverage on shares of Mastercard in a research report on Thursday, July 17th. They set a “buy” rating and a $650.00 price objective for the company. The Goldman Sachs Group restated a “buy” rating on shares of Mastercard in a research report on Friday, August 1st. TD Cowen restated a “buy” rating and set a $645.00 price objective on shares of Mastercard in a research report on Monday, August 11th. Finally, Robert W. Baird raised their price objective on shares of Mastercard from $640.00 to $660.00 and gave the stock an “outperform” rating in a research report on Monday, October 6th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $638.96.

Mastercard Stock Down 0.0%

NYSE MA opened at $573.72 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 2.41. Mastercard Incorporated has a 1-year low of $465.59 and a 1-year high of $601.77. The company has a 50 day moving average of $579.51 and a 200-day moving average of $566.01. The company has a market cap of $518.65 billion, a price-to-earnings ratio of 38.69, a PEG ratio of 2.35 and a beta of 0.97.

Mastercard (NYSE:MA) last released its quarterly earnings results on Thursday, July 31st. The credit services provider reported $4.15 earnings per share for the quarter, beating analysts’ consensus estimates of $4.05 by $0.10. The company had revenue of $8.13 billion during the quarter, compared to the consensus estimate of $7.95 billion. Mastercard had a net margin of 44.93% and a return on equity of 200.01%. The firm’s quarterly revenue was up 16.8% on a year-over-year basis. During the same period in the previous year, the business earned $3.50 earnings per share. On average, equities research analysts expect that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Thursday, October 9th will be paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, October 9th. Mastercard’s dividend payout ratio (DPR) is 20.50%.

Insider Transactions at Mastercard

In related news, CFO J. Mehra Sachin sold 17,816 shares of Mastercard stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $586.89, for a total value of $10,456,032.24. Following the transaction, the chief financial officer directly owned 31,234 shares of the company’s stock, valued at $18,330,922.26. This trade represents a 36.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.09% of the stock is owned by company insiders.

Mastercard Company 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.