Patriot Financial Group Insurance Agency LLC Acquires 1,786 Shares of Mastercard Incorporated $MA

Patriot Financial Group Insurance Agency LLC increased its holdings in Mastercard Incorporated (NYSE:MA) by 43.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,889 shares of the credit services provider’s stock after acquiring an additional 1,786 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Mastercard were worth $3,350,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. LGT Financial Advisors LLC bought a new position in shares of Mastercard in the second quarter valued at approximately $25,000. Family Legacy Financial Solutions LLC bought a new stake in Mastercard during the second quarter worth $26,000. Flaharty Asset Management LLC purchased a new stake in Mastercard in the 1st quarter valued at $27,000. Evolution Wealth Management Inc. bought a new position in Mastercard during the 2nd quarter valued at $29,000. Finally, IMG Wealth Management Inc. bought a new position in Mastercard during the 2nd quarter valued at $31,000. Institutional investors and hedge funds own 97.28% of the company’s stock.

Mastercard Price Performance

Shares of NYSE MA opened at $565.88 on Friday. The stock has a fifty day simple moving average of $553.51 and a two-hundred day simple moving average of $566.13. Mastercard Incorporated has a 1-year low of $465.59 and a 1-year high of $601.77. The firm has a market cap of $508.16 billion, a price-to-earnings ratio of 36.18, a price-to-earnings-growth ratio of 2.22 and a beta of 0.87. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.40.

Mastercard (NYSE:MA) last issued its quarterly earnings results on Thursday, October 30th. The credit services provider reported $4.38 EPS for the quarter, beating analysts’ consensus estimates of $4.31 by $0.07. The firm had revenue of $8.60 billion for the quarter, compared to analysts’ expectations of $8.53 billion. Mastercard had a return on equity of 202.03% and a net margin of 45.28%.The business’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.89 EPS. Analysts anticipate that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 9th. Shareholders of record on Friday, January 9th will be issued a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 0.6%. This is a boost from Mastercard’s previous quarterly dividend of $0.76. The ex-dividend date of this dividend is Friday, January 9th. Mastercard’s payout ratio is currently 22.25%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Wells Fargo & Company reduced their target price on shares of Mastercard from $669.00 to $660.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Compass Point set a $620.00 price target on shares of Mastercard and gave the stock a “neutral” rating in a report on Friday, October 31st. Citigroup upgraded shares of Mastercard to a “strong-buy” rating in a research note on Thursday, October 23rd. Hsbc Global Res raised shares of Mastercard from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 8th. Finally, Tigress Financial upped their target price on Mastercard from $685.00 to $730.00 and gave the company a “strong-buy” rating in a report on Thursday, November 6th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $657.48.

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.