Whalen Wealth Management Inc. Acquires New Shares in Mastercard Incorporated $MA

Whalen Wealth Management Inc. acquired a new stake in Mastercard Incorporated (NYSE:MA) in the second quarter, according to its most recent filing with the SEC. The fund acquired 1,902 shares of the credit services provider’s stock, valued at approximately $1,069,000.

A number of other hedge funds have also bought and sold shares of MA. LGT Financial Advisors LLC purchased a new position in Mastercard in the 2nd quarter valued at approximately $25,000. Family Legacy Financial Solutions LLC purchased a new position in Mastercard in the 2nd quarter valued at approximately $26,000. Flaharty Asset Management LLC purchased a new position in Mastercard in the 1st quarter valued at approximately $27,000. Keystone Global Partners LLC purchased a new position in Mastercard in the 1st quarter valued at approximately $31,000. Finally, IMG Wealth Management Inc. purchased a new position in Mastercard in the 2nd quarter valued at approximately $31,000. 97.28% of the stock is currently owned by hedge funds and other institutional investors.

Mastercard Stock Performance

NYSE MA opened at $565.79 on Wednesday. Mastercard Incorporated has a 52-week low of $465.59 and a 52-week high of $601.77. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.16 and a current ratio of 1.16. The company has a market capitalization of $511.48 billion, a P/E ratio of 38.15, a P/E/G ratio of 2.34 and a beta of 0.97. The company has a fifty day moving average of $578.85 and a 200-day moving average of $567.21.

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

Mastercard Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Thursday, October 9th will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 0.5%. The ex-dividend date is Thursday, October 9th. Mastercard’s dividend payout ratio is presently 20.50%.

Insider Transactions at Mastercard

In other Mastercard news, CFO J. Mehra Sachin sold 17,263 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $591.00, for a total transaction of $10,202,433.00. Following the completion of the sale, the chief financial officer directly owned 31,234 shares in the company, valued at $18,459,294. This represents a 35.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.09% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MA has been the subject of a number of recent analyst reports. The Goldman Sachs Group restated a “buy” rating on shares of Mastercard in a research report on Friday, August 1st. Truist Financial set a $638.00 price target on shares of Mastercard in a research report on Friday. Morgan Stanley boosted their price target on shares of Mastercard from $639.00 to $661.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Seaport Res Ptn upgraded shares of Mastercard from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 14th. Finally, Royal Bank Of Canada boosted their price target on shares of Mastercard from $650.00 to $656.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Five investment 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 stock has a consensus rating of “Buy” and an average target price of $638.96.

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.