Welch & Forbes LLC Boosts Position in Mastercard Incorporated (NYSE:MA)

Welch & Forbes LLC increased its position in shares of Mastercard Incorporated (NYSE:MA) by 0.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,266 shares of the credit services provider’s stock after purchasing an additional 25 shares during the period. Welch & Forbes LLC’s holdings in Mastercard were worth $7,819,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Measured Risk Portfolios Inc. purchased a new stake in shares of Mastercard in the 4th quarter valued at approximately $31,000. 10Elms LLP purchased a new stake in shares of Mastercard in the 4th quarter valued at $33,000. Hughes Financial Services LLC acquired a new position in Mastercard in the 1st quarter valued at about $34,000. Navigoe LLC purchased a new stake in shares of Mastercard during the fourth quarter worth $33,000. Finally, Mpwm Advisory Solutions LLC acquired a new stake in shares of Mastercard in the fourth quarter valued at $36,000. 97.28% of the stock is owned by hedge funds and other institutional investors.

Mastercard Stock Performance

Mastercard stock opened at $550.33 on Wednesday. Mastercard Incorporated has a one year low of $428.86 and a one year high of $594.71. The stock’s 50 day moving average price is $568.07 and its 200 day moving average price is $548.00. The company has a debt-to-equity ratio of 2.81, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market capitalization of $501.74 billion, a PE ratio of 38.59, a price-to-earnings-growth ratio of 2.40 and a beta of 1.02.

Mastercard (NYSE:MA) last issued its earnings results on Thursday, May 1st. The credit services provider reported $3.73 EPS for the quarter, topping the consensus estimate of $3.57 by $0.16. Mastercard had a return on equity of 196.87% and a net margin of 45.21%. The company had revenue of $7.25 billion during the quarter, compared to analyst estimates of $7.12 billion. During the same quarter last year, the firm earned $3.31 EPS. The business’s revenue was up 14.2% on a year-over-year basis. As a group, sell-side analysts expect that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Mastercard Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Wednesday, July 9th will be given a $0.76 dividend. The ex-dividend date of this dividend is Wednesday, July 9th. This represents a $3.04 annualized dividend and a yield of 0.55%. Mastercard’s dividend payout ratio is presently 21.32%.

Insiders Place Their Bets

In related news, insider Linda Pistecchia Kirkpatrick sold 958 shares of the business’s stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $560.00, for a total transaction of $536,480.00. Following the sale, the insider owned 23,624 shares of the company’s stock, valued at $13,229,440. The trade was a 3.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Julius Genachowski sold 312 shares of the company’s stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $570.67, for a total value of $178,049.04. Following the completion of the sale, the director owned 8,469 shares of the company’s stock, valued at $4,833,004.23. This trade represents a 3.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,753 shares of company stock valued at $20,351,084 in the last quarter. 0.09% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently weighed in on MA shares. Evercore ISI initiated coverage on shares of Mastercard in a report on Wednesday, April 9th. They issued an “in-line” rating and a $550.00 target price on the stock. Truist Financial assumed coverage on Mastercard in a research report on Monday, June 2nd. They set a “buy” rating and a $640.00 target price on the stock. Seaport Res Ptn raised Mastercard from a “hold” rating to a “strong-buy” rating in a report on Monday. Monness Crespi & Hardt cut shares of Mastercard from a “buy” rating to a “neutral” rating in a report on Wednesday, April 9th. Finally, Wall Street Zen cut Mastercard from a “buy” rating to a “hold” rating in a research report on Saturday, June 14th. Six equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $611.50.

Mastercard 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.