Ritholtz Wealth Management increased its position in shares of Mastercard Incorporated (NYSE:MA – Free Report) by 9.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,947 shares of the credit services provider’s stock after purchasing an additional 2,214 shares during the quarter. Ritholtz Wealth Management’s holdings in Mastercard were worth $14,860,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Fundsmith LLP acquired a new stake in Mastercard during the 2nd quarter valued at approximately $639,458,000. Corient Private Wealth LP boosted its holdings in shares of Mastercard by 147.2% in the 2nd quarter. Corient Private Wealth LP now owns 1,682,183 shares of the credit services provider’s stock valued at $863,969,000 after acquiring an additional 1,001,671 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Mastercard by 295.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 860,011 shares of the credit services provider’s stock valued at $441,702,000 after acquiring an additional 642,724 shares during the last quarter. Sanders Capital LLC increased its stake in shares of Mastercard by 26.2% in the third quarter. Sanders Capital LLC now owns 2,941,951 shares of the credit services provider’s stock worth $1,622,398,000 after acquiring an additional 611,592 shares during the period. Finally, SEB Asset Management AB acquired a new stake in shares of Mastercard in the first quarter worth $293,574,000. Hedge funds and other institutional investors own 97.28% of the company’s stock.
Analysts Set New Price Targets
MA has been the subject of several recent research reports. Mizuho set a $711.00 target price on shares of Mastercard in a report on Friday, October 30th. President Capital upped their price target on shares of Mastercard from $693.00 to $729.00 and gave the company a “buy” rating in a report on Monday, August 17th. Susquehanna increased their price target on Mastercard from $665.00 to $740.00 and gave the stock a “positive” rating in a research report on Friday, October 30th. Sanford C. Bernstein lifted their price objective on Mastercard from $730.00 to $764.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Cantor Fitzgerald boosted their price objective on Mastercard from $695.00 to $765.00 and gave the company an “overweight” rating in a report on Friday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $713.21.
View Our Latest Research Report on MA
Insiders Place Their Bets
In other news, insider Sachin Mehra sold 7,444 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $577.13, for a total transaction of $4,296,155.72. Following the sale, the insider directly owned 40,916 shares in the company, valued at $23,613,851.08. This trade represents a 15.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Julius Genachowski sold 371 shares of the company’s stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $585.01, for a total value of $217,038.71. Following the completion of the transaction, the director directly owned 8,607 shares of the company’s stock, valued at $5,035,181.07. The trade was a 4.13% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 25,403 shares of company stock worth $15,428,736. Company insiders own 0.09% of the company’s stock.
Mastercard News Summary
These are some of the MA news items that stood out recently:
- Positive Sentiment: Sanford C. Bernstein raised its price target to $764 from $730 and reiterated an “outperform” rating, signaling confidence in Mastercard’s prospects. Read more about Bernstein’s price target
- Positive Sentiment: Citigroup increased its target to $800 from $675 and maintained a “buy” rating, adding to the recent bullish analyst view. Read more about Citigroup’s price target
- Positive Sentiment: Other partnerships broaden Mastercard’s business-banking reach, including a BMO commercial card in Canada and Citizens’ treasury-management collaboration using Mastercard technology. Read about Mastercard’s business-banking partnerships
Mastercard Price Performance
Shares of NYSE MA opened at $660.63 on Thursday. The company has a debt-to-equity ratio of 3.29, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $575.52 billion, a price-to-earnings ratio of 34.55, a PEG ratio of 1.86 and a beta of 0.78. The firm’s 50 day simple moving average is $597.33 and its 200-day simple moving average is $541.07. Mastercard Incorporated has a 12 month low of $464.52 and a 12 month high of $681.99.
Mastercard (NYSE:MA – Get Free Report) last posted its earnings results on Thursday, October 29th. The credit services provider reported $5.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.17 by $0.14. Mastercard had a net margin of 46.73% and a return on equity of 260.86%. The firm had revenue of $9.81 billion during the quarter, compared to analysts’ expectations of $9.66 billion. During the same period in the previous year, the business posted $4.38 EPS. The business’s revenue was up 14.0% compared to the same quarter last year. Analysts expect that Mastercard Incorporated will post 20.00 EPS for the current year.
Mastercard Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 9th. Shareholders of record on Friday, October 9th were issued a $0.87 dividend. The ex-dividend date of this dividend was Friday, October 9th. This represents a $3.48 dividend on an annualized basis and a yield of 0.5%. Mastercard’s payout ratio is presently 18.20%.
About Mastercard
Mastercard Incorporated is a global payments technology company that operates a network connecting consumers, merchants, financial institutions, businesses and governments. Its network supports electronic payments, including transactions made with Mastercard-branded credit, debit and prepaid cards, as well as digital payment methods. The company provides technology for authorizing, clearing and settling transactions. It also offers services related to cybersecurity, identity verification, data analytics, fraud prevention and payment consulting.
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