Elk River Wealth Management LLC Sells 176 Shares of Mastercard Incorporated $MA

Elk River Wealth Management LLC decreased its stake in shares of Mastercard Incorporated (NYSE:MA) by 0.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,904 shares of the credit services provider’s stock after selling 176 shares during the quarter. Mastercard makes up 2.4% of Elk River Wealth Management LLC’s portfolio, making the stock its 13th largest position. Elk River Wealth Management LLC’s holdings in Mastercard were worth $13,995,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Family Legacy Financial Solutions LLC purchased a new stake in Mastercard in the second quarter worth about $26,000. Flaharty Asset Management LLC bought a new position in Mastercard in the first quarter worth approximately $27,000. Keystone Global Partners LLC purchased a new stake in Mastercard during the first quarter worth $31,000. 10Elms LLP bought a new stake in Mastercard during the 4th quarter valued at $33,000. Finally, Hughes Financial Services LLC purchased a new position in shares of Mastercard in the 1st quarter valued at $34,000. 97.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MA has been the subject of a number of analyst reports. Wolfe Research set a $655.00 price objective on Mastercard in a research note on Monday, June 23rd. Morgan Stanley boosted their target price on shares of Mastercard from $639.00 to $661.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Truist Financial decreased their price target on shares of Mastercard from $640.00 to $612.00 and set a “buy” rating for the company in a research report on Thursday, July 17th. KeyCorp lifted their price objective on shares of Mastercard from $635.00 to $660.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Finally, Wall Street Zen upgraded shares of Mastercard from a “hold” rating to a “buy” rating in a research note on Friday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $630.89.

Insider Buying and Selling at Mastercard

In related news, insider Raj Seshadri sold 1,100 shares of the business’s stock in a transaction on Friday, June 27th. The shares were sold at an average price of $546.77, for a total transaction of $601,447.00. Following the completion of the transaction, the insider directly owned 12,921 shares in the company, valued at $7,064,815.17. The trade was a 7.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Julius Genachowski sold 312 shares of the stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $570.67, for a total value of $178,049.04. Following the sale, the director directly owned 8,469 shares in the company, valued at $4,833,004.23. This represents a 3.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 38,717 shares of company stock worth $22,684,831. 0.09% of the stock is currently owned by company insiders.

Mastercard Trading Down 2.0%

NYSE MA opened at $586.39 on Friday. Mastercard Incorporated has a 12-month low of $465.59 and a 12-month high of $601.77. The company has a fifty day simple moving average of $576.55 and a two-hundred day simple moving average of $558.89. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 2.41. The stock has a market cap of $530.11 billion, a P/E ratio of 39.54, a P/E/G ratio of 2.45 and a beta of 0.99.

Mastercard (NYSE:MA) last posted its quarterly earnings results on Thursday, July 31st. The credit services provider reported $4.15 earnings per share for the quarter, beating the consensus estimate of $4.05 by $0.10. Mastercard had a return on equity of 200.01% and a net margin of 44.93%.The business had revenue of $8.13 billion for the quarter, compared to the consensus estimate of $7.95 billion. During the same quarter in the previous year, the business earned $3.50 EPS. The company’s quarterly revenue was up 16.8% compared to the same quarter last year. On average, analysts forecast that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Thursday, October 9th will be paid a $0.76 dividend. The ex-dividend date is Thursday, October 9th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.5%. Mastercard’s dividend payout ratio is presently 20.50%.

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.