Martin Investment Management LLC lifted its position in Mastercard Incorporated (NYSE:MA) by 4.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 44,462 shares of the credit services provider’s stock after buying an additional 1,831 shares during the period. Mastercard makes up about 5.4% of Martin Investment Management LLC’s portfolio, making the stock its 5th largest position. Martin Investment Management LLC’s holdings in Mastercard were worth $15,036,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Larson Financial Group LLC grew its position in Mastercard by 55.2% during the 3rd quarter. Larson Financial Group LLC now owns 104 shares of the credit services provider’s stock worth $35,000 after purchasing an additional 37 shares during the last quarter. Pacific Center for Financial Services grew its position in Mastercard by 582.4% during the 1st quarter. Pacific Center for Financial Services now owns 116 shares of the credit services provider’s stock worth $28,000 after purchasing an additional 99 shares during the last quarter. Evolution Wealth Advisors LLC grew its position in Mastercard by 530.4% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 145 shares of the credit services provider’s stock worth $43,000 after purchasing an additional 122 shares during the last quarter. Virtus Alternative Investment Advisers Inc. purchased a new stake in Mastercard during the 2nd quarter worth approximately $46,000. Finally, Watson Rebecca purchased a new stake in Mastercard during the 2nd quarter worth approximately $50,000. 73.72% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:MA opened at $339.40 on Friday. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.95 and a current ratio of 1.95. The company has a fifty day moving average of $341.23 and a two-hundred day moving average of $305.61. The stock has a market capitalization of $339.76 billion, a PE ratio of 46.94, a P/E/G ratio of 2.94 and a beta of 1.11. Mastercard Incorporated has a fifty-two week low of $199.99 and a fifty-two week high of $367.25.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Stockholders of record on Friday, October 9th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Thursday, October 8th. Mastercard’s dividend payout ratio (DPR) is 20.59%.
In other news, Director Richard Haythornthwaite sold 6,583 shares of the stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $328.87, for a total value of $2,164,951.21. Following the completion of the sale, the director now directly owns 27,432 shares in the company, valued at $9,021,561.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Foundation Mastercard sold 68,670 shares of the company’s stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $308.54, for a total transaction of $21,187,441.80. Following the completion of the sale, the insider now directly owns 109,933,814 shares of the company’s stock, valued at approximately $33,918,978,971.56. The disclosure for this sale can be found here. Insiders sold 263,465 shares of company stock valued at $83,297,010 over the last quarter. Company insiders own 3.79% of the company’s stock.
MA has been the topic of several research analyst reports. Mizuho initiated coverage on shares of Mastercard in a research report on Wednesday, August 26th. They set a “buy” rating and a $400.00 target price on the stock. Oppenheimer started coverage on shares of Mastercard in a research note on Friday, July 31st. They set a “hold” rating for the company. Goldman Sachs Group started coverage on shares of Mastercard in a report on Tuesday, July 14th. They issued a “buy” rating and a $364.00 price objective on the stock. Bank of America upped their price objective on shares of Mastercard from $324.00 to $358.00 and gave the company a “neutral” rating in a report on Thursday, August 27th. Finally, 140166 upped their price objective on shares of Mastercard from $360.00 to $395.00 and gave the company a “positive” rating in a report on Thursday, September 10th. Five analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. Mastercard currently has an average rating of “Buy” and an average target price of $347.81.
Mastercard Company Profile
Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers related products and services.
Further Reading: Cost of Equity For A Business, Investors
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