Mastercard Incorporated $MA Position Raised by Hidden Cove Wealth Management LLC

Hidden Cove Wealth Management LLC raised its stake in Mastercard Incorporated (NYSE:MA) by 5.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 518 shares of the credit services provider’s stock after buying an additional 29 shares during the quarter. Hidden Cove Wealth Management LLC’s holdings in Mastercard were worth $291,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MA. Brighton Jones LLC increased its holdings in shares of Mastercard by 42.3% during the fourth quarter. Brighton Jones LLC now owns 6,824 shares of the credit services provider’s stock valued at $3,594,000 after purchasing an additional 2,028 shares during the period. Bank Pictet & Cie Europe AG increased its holdings in shares of Mastercard by 11.8% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 70,472 shares of the credit services provider’s stock valued at $37,108,000 after purchasing an additional 7,452 shares during the period. Mascagni Wealth Management Inc. acquired a new position in Mastercard during the fourth quarter worth about $73,000. Toronto Dominion Bank raised its position in Mastercard by 6.0% in the fourth quarter. Toronto Dominion Bank now owns 452,329 shares of the credit services provider’s stock worth $238,177,000 after acquiring an additional 25,575 shares in the last quarter. Finally, United Advisor Group LLC raised its position in Mastercard by 4.0% in the fourth quarter. United Advisor Group LLC now owns 888 shares of the credit services provider’s stock worth $468,000 after acquiring an additional 34 shares in the last quarter. 97.28% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Mastercard

In other Mastercard news, insider Raj Seshadri sold 1,100 shares of Mastercard 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 sale, the insider 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 filing with the Securities & Exchange Commission, which is available at this link. Also, CFO J. Mehra Sachin sold 17,263 shares of Mastercard stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $591.00, for a total transaction of $10,202,433.00. Following the sale, the chief financial officer owned 31,234 shares in the company, valued at $18,459,294. This represents a 35.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,449 shares of company stock worth $21,974,441 over the last three months. 0.09% of the stock is currently owned by corporate insiders.

Mastercard Trading Up 0.1%

NYSE:MA opened at $584.64 on Tuesday. The stock’s 50 day moving average price is $577.86 and its 200 day moving average price is $559.42. Mastercard Incorporated has a 52 week low of $465.59 and a 52 week high of $601.77. The company has a market capitalization of $528.52 billion, a P/E ratio of 39.42, a P/E/G ratio of 2.39 and a beta of 0.99. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.16 and a current ratio of 1.16.

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

Mastercard Dividend Announcement

The firm 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. The ex-dividend date is Thursday, October 9th. This represents a $3.04 dividend on an annualized basis and a yield of 0.5%. Mastercard’s payout ratio is currently 20.50%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Seaport Res Ptn upgraded shares of Mastercard from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 14th. Jefferies Financial Group reiterated a “buy” rating on shares of Mastercard in a research report on Friday, June 6th. UBS Group boosted their price target on shares of Mastercard from $660.00 to $670.00 and gave the stock a “buy” rating in a research report on Tuesday, June 3rd. Wells Fargo & Company boosted their price objective on Mastercard from $625.00 to $650.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Finally, Truist Financial cut their price objective on Mastercard from $640.00 to $612.00 and set a “buy” rating on the stock in a report on Thursday, July 17th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Mastercard currently has a consensus rating of “Buy” and a consensus target price 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.