Cove Private Wealth LLC Has $4.43 Million Stake in Mastercard Incorporated $MA

Cove Private Wealth LLC grew its stake in shares of Mastercard Incorporated (NYSE:MA) by 45.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,874 shares of the credit services provider’s stock after purchasing an additional 2,450 shares during the quarter. Mastercard makes up 1.6% of Cove Private Wealth LLC’s portfolio, making the stock its 10th largest holding. Cove Private Wealth LLC’s holdings in Mastercard were worth $4,425,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Family Legacy Financial Solutions LLC bought a new position in shares of Mastercard during the second quarter valued at approximately $26,000. Flaharty Asset Management LLC bought a new position in shares of Mastercard during the first quarter valued at approximately $27,000. Keystone Global Partners LLC bought a new position in shares of Mastercard during the first quarter valued at approximately $31,000. Hughes Financial Services LLC bought a new position in shares of Mastercard during the first quarter valued at approximately $34,000. Finally, 1 North Wealth Services LLC bought a new position in shares of Mastercard during the first quarter valued at approximately $44,000. 97.28% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on MA. Wolfe Research set a $655.00 price objective on Mastercard in a report on Monday, June 23rd. The Goldman Sachs Group reissued a “buy” rating on shares of Mastercard in a report on Friday, August 1st. Truist Financial decreased their price objective on Mastercard from $640.00 to $612.00 and set a “buy” rating for the company in a report on Thursday, July 17th. Jefferies Financial Group reissued a “buy” rating on shares of Mastercard in a report on Friday, June 6th. Finally, Royal Bank Of Canada increased their price objective on Mastercard from $650.00 to $656.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $630.89.

Mastercard Stock Performance

Shares of NYSE MA opened at $565.63 on Friday. The stock has a fifty day moving average price of $579.00 and a two-hundred day moving average price of $560.04. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a market cap of $511.34 billion, a P/E ratio of 38.14, a PEG ratio of 2.33 and a beta of 0.99. Mastercard Incorporated has a 1 year low of $465.59 and a 1 year high of $601.77.

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

Mastercard Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Thursday, October 9th will be paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, October 9th. Mastercard’s dividend payout ratio (DPR) is presently 20.50%.

Insider Buying and Selling at Mastercard

In other Mastercard news, insider Linda Pistecchia Kirkpatrick sold 958 shares of the stock in a transaction 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 completion of the transaction, the insider directly owned 23,624 shares of the company’s stock, valued at approximately $13,229,440. This trade represents a 3.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Julius Genachowski sold 312 shares of the firm’s stock in a transaction 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 sale, the director directly owned 8,469 shares of the company’s stock, valued at approximately $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 ninety days, insiders sold 36,349 shares of company stock valued at $21,372,994. 0.09% of the stock is owned by corporate insiders.

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.