Connecticut Wealth Management LLC Grows Position in Mastercard Incorporated (NYSE:MA)

Connecticut Wealth Management LLC boosted its holdings in Mastercard Incorporated (NYSE:MA) by 27.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,066 shares of the credit services provider’s stock after buying an additional 446 shares during the quarter. Connecticut Wealth Management LLC’s holdings in Mastercard were worth $881,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. LFA Lugano Financial Advisors SA purchased a new stake in Mastercard during the fourth quarter valued at $27,000. Criterion Capital Advisors LLC bought a new stake in Mastercard during the fourth quarter valued at approximately $33,000. Barometer Capital Management Inc. purchased a new stake in Mastercard during the third quarter valued at approximately $36,000. Thomas J. Herzfeld Advisors Inc. raised its position in Mastercard by 661.5% in the third quarter. Thomas J. Herzfeld Advisors Inc. now owns 99 shares of the credit services provider’s stock worth $39,000 after acquiring an additional 86 shares during the period. Finally, JCIC Asset Management Inc. boosted its stake in shares of Mastercard by 34.0% during the 4th quarter. JCIC Asset Management Inc. now owns 134 shares of the credit services provider’s stock worth $57,000 after acquiring an additional 34 shares during the last quarter. Institutional investors own 97.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Raymond James raised their target price on Mastercard from $452.00 to $504.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. JPMorgan Chase & Co. lowered their price objective on Mastercard from $520.00 to $510.00 and set an “overweight” rating on the stock in a research report on Thursday. William Blair reissued an “outperform” rating on shares of Mastercard in a report on Wednesday, January 31st. Morgan Stanley lowered their price target on shares of Mastercard from $536.00 to $524.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Wells Fargo & Company increased their price objective on shares of Mastercard from $490.00 to $530.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. Two investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Mastercard presently has an average rating of “Moderate Buy” and an average target price of $493.55.

Insider Activity

In other news, major shareholder Foundation Mastercard sold 116,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $445.04, for a total transaction of $51,624,640.00. Following the transaction, the insider now owns 96,651,308 shares of the company’s stock, valued at approximately $43,013,698,112.32. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Michael Miebach sold 7,851 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $475.92, for a total transaction of $3,736,447.92. Following the transaction, the chief executive officer now owns 47,640 shares of the company’s stock, valued at $22,672,828.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Foundation Mastercard sold 116,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $445.04, for a total value of $51,624,640.00. Following the completion of the sale, the insider now owns 96,651,308 shares in the company, valued at approximately $43,013,698,112.32. The disclosure for this sale can be found here. Insiders sold 583,088 shares of company stock valued at $266,873,978 in the last ninety days. Insiders own 0.13% of the company’s stock.

Mastercard Price Performance

MA traded up $2.48 during trading hours on Friday, hitting $443.58. The company’s stock had a trading volume of 3,711,610 shares, compared to its average volume of 2,507,301. The stock has a market cap of $413.81 billion, a price-to-earnings ratio of 35.26, a P/E/G ratio of 1.72 and a beta of 1.08. The business’s 50-day moving average price is $469.57 and its 200-day moving average price is $438.31. The company has a current ratio of 1.09, a quick ratio of 1.17 and a debt-to-equity ratio of 1.86. Mastercard Incorporated has a 12 month low of $357.85 and a 12 month high of $490.00.

Mastercard (NYSE:MA) last issued its quarterly earnings data on Wednesday, May 1st. The credit services provider reported $3.31 EPS for the quarter, topping analysts’ consensus estimates of $3.22 by $0.09. Mastercard had a net margin of 46.09% and a return on equity of 183.70%. The business had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.34 billion. During the same period last year, the company posted $2.80 EPS. The business’s revenue was up 10.4% on a year-over-year basis. Sell-side analysts expect that Mastercard Incorporated will post 14.22 earnings per share for the current fiscal year.

Mastercard Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Tuesday, April 9th will be given a dividend of $0.66 per share. The ex-dividend date is Monday, April 8th. This represents a $2.64 dividend on an annualized basis and a yield of 0.60%. Mastercard’s dividend payout ratio (DPR) is presently 20.99%.

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.