Thurston Springer Miller Herd & Titak Inc. raised its position in Mastercard Incorporated (NYSE:MA – Free Report) by 6.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,215 shares of the credit services provider’s stock after buying an additional 132 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in Mastercard were worth $1,095,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the company. Westend Capital Management LLC acquired a new stake in Mastercard during the 1st quarter worth $27,000. Palisade Asset Management LLC purchased a new stake in Mastercard during the 1st quarter valued at about $27,000. Scarborough Advisors LLC acquired a new stake in Mastercard in the 4th quarter valued at about $28,000. Strategic Investment Solutions Inc. IL purchased a new position in Mastercard in the 2nd quarter worth approximately $34,000. Finally, Fairway Wealth LLC acquired a new position in shares of Mastercard during the 2nd quarter worth approximately $35,000. Institutional investors and hedge funds own 97.28% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on MA shares. Citigroup lifted their price objective on Mastercard from $528.00 to $538.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Compass Point assumed coverage on shares of Mastercard in a report on Wednesday, September 4th. They issued a “neutral” rating and a $525.00 price objective for the company. KeyCorp raised their price objective on shares of Mastercard from $490.00 to $515.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. boosted their target price on shares of Mastercard from $500.00 to $570.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Finally, TD Cowen raised their price target on shares of Mastercard from $532.00 to $533.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Mastercard has an average rating of “Moderate Buy” and an average price target of $523.27.
Insider Buying and Selling
In related news, CMO Venkata R. Madabhushi sold 4,685 shares of Mastercard stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $489.86, for a total value of $2,294,994.10. Following the completion of the transaction, the chief marketing officer now owns 15,031 shares in the company, valued at $7,363,085.66. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Mastercard news, CMO Venkata R. Madabhushi sold 4,685 shares of Mastercard stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $489.86, for a total transaction of $2,294,994.10. Following the completion of the sale, the chief marketing officer now directly owns 15,031 shares of the company’s stock, valued at $7,363,085.66. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Foundation Mastercard sold 119,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $468.46, for a total value of $55,746,740.00. Following the sale, the insider now directly owns 92,033,308 shares in the company, valued at $43,113,923,465.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 340,809 shares of company stock worth $159,610,703. Company insiders own 0.10% of the company’s stock.
Mastercard Price Performance
Shares of MA opened at $502.26 on Monday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.95. Mastercard Incorporated has a fifty-two week low of $359.77 and a fifty-two week high of $502.92. The company has a market cap of $466.91 billion, a P/E ratio of 39.93, a PEG ratio of 2.22 and a beta of 1.10. The firm’s 50 day moving average price is $480.78 and its 200 day moving average price is $462.88.
Mastercard (NYSE:MA – Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The credit services provider reported $3.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.51 by $0.08. Mastercard had a return on equity of 179.78% and a net margin of 46.45%. The business had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $6.85 billion. On average, research analysts forecast that Mastercard Incorporated will post 14.3 earnings per share for the current fiscal year.
Mastercard Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th will be given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date is Wednesday, October 9th. Mastercard’s dividend payout ratio is presently 20.99%.
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.
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