Segment Wealth Management LLC Raises Stock Position in Mastercard Incorporated $MA

Segment Wealth Management LLC grew its holdings in Mastercard Incorporated (NYSE:MA) by 3.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,614 shares of the credit services provider’s stock after acquiring an additional 197 shares during the period. Segment Wealth Management LLC’s holdings in Mastercard were worth $3,717,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ORG Partners LLC increased its stake in Mastercard by 73.2% during the 2nd quarter. ORG Partners LLC now owns 698 shares of the credit services provider’s stock worth $394,000 after buying an additional 295 shares during the period. Ethos Financial Group LLC increased its stake in Mastercard by 19.5% during the 1st quarter. Ethos Financial Group LLC now owns 3,174 shares of the credit services provider’s stock worth $1,683,000 after buying an additional 518 shares during the period. Fortis Advisors LLC increased its stake in Mastercard by 9.4% during the 1st quarter. Fortis Advisors LLC now owns 871 shares of the credit services provider’s stock worth $477,000 after buying an additional 75 shares during the period. Canandaigua National Trust Co of Florida increased its position in shares of Mastercard by 36.4% in the 1st quarter. Canandaigua National Trust Co of Florida now owns 693 shares of the credit services provider’s stock worth $380,000 after purchasing an additional 185 shares during the last quarter. Finally, SeaBridge Investment Advisors LLC increased its position in shares of Mastercard by 4.3% in the 2nd quarter. SeaBridge Investment Advisors LLC now owns 6,463 shares of the credit services provider’s stock worth $3,632,000 after purchasing an additional 264 shares during the last quarter. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Mastercard Trading Up 0.6%

NYSE MA opened at $581.08 on Friday. Mastercard Incorporated has a one year low of $465.59 and a one year high of $601.77. The company has a 50-day simple moving average of $580.26 and a 200-day simple moving average of $561.67. 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 capitalization of $525.30 billion, a PE ratio of 39.18, a price-to-earnings-growth ratio of 2.37 and a beta of 0.97.

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

Mastercard Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have recently weighed in on MA. Deutsche Bank Aktiengesellschaft began coverage on shares of Mastercard in a research report on Thursday, July 17th. They issued a “buy” rating and a $650.00 target price for the company. Jefferies Financial Group reissued a “buy” rating on shares of Mastercard in a research report on Friday, June 6th. KeyCorp boosted their target price 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. Truist Financial dropped their target price 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. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Mastercard in a research report on Saturday, September 27th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $630.89.

Insider Activity

In other Mastercard news, Director Julius Genachowski sold 312 shares of the business’s stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $570.67, for a total transaction of $178,049.04. Following the completion of the transaction, the director directly owned 8,469 shares of the company’s stock, valued at $4,833,004.23. The trade was a 3.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO J. Mehra Sachin sold 17,816 shares of the business’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $586.89, for a total transaction of $10,456,032.24. Following the transaction, the chief financial officer directly owned 31,234 shares of the company’s stock, valued at $18,330,922.26. The trade was a 36.32% decrease in their ownership of the stock. 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 over the last ninety days. Company insiders own 0.09% of the company’s stock.

About Mastercard

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.