Pinnacle Wealth Planning Services Inc. Sells 28 Shares of Mastercard Incorporated $MA

Pinnacle Wealth Planning Services Inc. lessened its holdings in Mastercard Incorporated (NYSE:MA) by 0.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,562 shares of the credit services provider’s stock after selling 28 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in Mastercard were worth $2,002,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. LGT Financial Advisors LLC acquired a new position in shares of Mastercard in the second quarter worth approximately $25,000. Family Legacy Financial Solutions LLC acquired a new position in shares of Mastercard in the second quarter worth approximately $26,000. Flaharty Asset Management LLC acquired a new position in shares of Mastercard in the first quarter worth approximately $27,000. Keystone Global Partners LLC acquired a new position in Mastercard in the first quarter valued at approximately $31,000. Finally, IMG Wealth Management Inc. acquired a new position in Mastercard in the second quarter valued at approximately $31,000. 97.28% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Mastercard news, Director Julius Genachowski sold 312 shares of the company’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 completion of the transaction, the director owned 8,469 shares in the company, valued at $4,833,004.23. This represents a 3.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO J. Mehra Sachin sold 17,816 shares of the company’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $586.89, for a total value of $10,456,032.24. Following the completion of the transaction, the chief financial officer owned 31,234 shares of the company’s stock, valued at $18,330,922.26. This trade represents a 36.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,391 shares of company stock valued at $20,836,514 in the last 90 days. Corporate insiders own 0.09% of the company’s stock.

Mastercard Trading Up 0.5%

Shares of Mastercard stock opened at $568.04 on Tuesday. The stock has a fifty day simple moving average of $579.27 and a 200 day simple moving average of $560.85. Mastercard Incorporated has a 12-month low of $465.59 and a 12-month high of $601.77. The company has a market capitalization of $513.51 billion, a P/E ratio of 38.30, a price-to-earnings-growth ratio of 2.32 and a beta of 0.99. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 2.41.

Mastercard (NYSE:MA) last announced its quarterly earnings data 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 the consensus estimate of $7.95 billion. Mastercard had a return on equity of 200.01% and a net margin of 44.93%.The business’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.50 EPS. On average, sell-side analysts anticipate that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Announces Dividend

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

Wall Street Analyst Weigh In

MA has been the subject of several recent research reports. Seaport Res Ptn upgraded Mastercard from a “hold” rating to a “strong-buy” rating in a report on Monday, July 14th. TD Cowen restated a “buy” rating and set a $645.00 price objective on shares of Mastercard in a report on Monday, August 11th. Wall Street Zen downgraded Mastercard from a “buy” rating to a “hold” rating in a report on Friday. Wolfe Research set a $655.00 price objective on Mastercard in a report on Monday, June 23rd. Finally, UBS Group boosted their price objective on Mastercard from $660.00 to $670.00 and gave the company a “buy” rating in a report on Tuesday, June 3rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Mastercard has an average rating of “Buy” and a consensus price target of $630.89.

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.