Genesis Private Wealth LLC Increases Stock Position in Mastercard Incorporated $MA

Genesis Private Wealth LLC lifted its holdings in Mastercard Incorporated (NYSE:MA) by 6.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,867 shares of the credit services provider’s stock after purchasing an additional 112 shares during the period. Genesis Private Wealth LLC’s holdings in Mastercard were worth $1,049,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Family Legacy Financial Solutions LLC purchased a new stake in shares of Mastercard in the 2nd quarter worth approximately $26,000. Flaharty Asset Management LLC purchased a new stake in shares of Mastercard in the 1st quarter worth approximately $27,000. Keystone Global Partners LLC purchased a new stake in shares of Mastercard in the 1st quarter worth approximately $31,000. Hughes Financial Services LLC purchased a new stake in shares of Mastercard in the 1st quarter worth approximately $34,000. Finally, 1 North Wealth Services LLC purchased a new stake in shares of Mastercard in the 1st quarter worth approximately $44,000. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Wall Street Analysts Forecast Growth

MA has been the subject of several recent analyst reports. Morgan Stanley boosted their price objective on shares of Mastercard from $639.00 to $661.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Wall Street Zen lowered shares of Mastercard from a “buy” rating to a “hold” rating in a research note on Friday. TD Cowen reiterated a “buy” rating and set a $645.00 price objective on shares of Mastercard in a research note on Monday, August 11th. Jefferies Financial Group reiterated a “buy” rating on shares of Mastercard in a research note on Friday, June 6th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Mastercard in a research note on Thursday, July 17th. They set a “buy” rating and a $650.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $630.89.

Insiders Place Their Bets

In other news, CFO J. Mehra Sachin sold 17,263 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $591.00, for a total value 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Julius Genachowski sold 312 shares of the stock in a transaction on Monday, July 7th. The stock was sold at an average price of $570.67, for a total transaction of $178,049.04. Following the completion of the sale, the director owned 8,469 shares in the company, valued at $4,833,004.23. The trade was a 3.55% decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,391 shares of company stock worth $20,836,514 in the last quarter. Company insiders own 0.09% of the company’s stock.

Mastercard Trading Down 0.3%

Shares of Mastercard stock opened at $565.63 on Monday. 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 Incorporated has a 12-month low of $465.59 and a 12-month high of $601.77. The firm has a market capitalization of $511.34 billion, a price-to-earnings ratio of 38.14, a PEG ratio of 2.32 and a beta of 0.99. The firm’s 50 day simple moving average is $579.00 and its two-hundred day simple moving average is $560.57.

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. Mastercard had a net margin of 44.93% and a return on equity of 200.01%. The business had revenue of $8.13 billion for the quarter, compared to analyst estimates of $7.95 billion. During the same quarter in the prior year, the business posted $3.50 EPS. Mastercard’s revenue for the quarter was up 16.8% compared to the same quarter last year. Analysts predict that Mastercard Incorporated will post 15.91 EPS for the current year.

Mastercard Dividend Announcement

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

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.