Mastercard Incorporated $MA Shares Acquired by NewEdge Advisors LLC

NewEdge Advisors LLC increased its position in shares of Mastercard Incorporated (NYSE:MA) by 1.0% during the second quarter, Holdings Channel reports. The institutional investor owned 115,937 shares of the credit services provider’s stock after buying an additional 1,128 shares during the quarter. NewEdge Advisors LLC’s holdings in Mastercard were worth $59,545,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Border to Coast Pensions Partnership Ltd boosted its holdings in shares of Mastercard by 7.3% in the first quarter. Border to Coast Pensions Partnership Ltd now owns 139,844 shares of the credit services provider’s stock valued at $70,089,000 after acquiring an additional 9,504 shares in the last quarter. Canada Post Corp Registered Pension Plan raised its stake in shares of Mastercard by 6.1% during the 4th quarter. Canada Post Corp Registered Pension Plan now owns 65,414 shares of the credit services provider’s stock worth $37,344,000 after buying an additional 3,768 shares in the last quarter. Marble Wealth LLC acquired a new stake in shares of Mastercard in the 4th quarter valued at approximately $1,328,000. Charles Lim Capital Ltd acquired a new stake in shares of Mastercard in the 4th quarter valued at approximately $15,699,000. Finally, Gamco Investors INC. ET AL boosted its stake in shares of Mastercard by 5.4% in the first quarter. Gamco Investors INC. ET AL now owns 28,205 shares of the credit services provider’s stock valued at $14,093,000 after buying an additional 1,434 shares in the last quarter. Institutional investors and hedge funds own 97.28% of the company’s stock.

Mastercard Stock Performance

Shares of MA stock opened at $570.35 on Wednesday. The stock has a fifty day moving average price of $561.02 and a 200 day moving average price of $522.20. The stock has a market cap of $499.63 billion, a PE ratio of 31.37, a P/E/G ratio of 1.66 and a beta of 0.74. Mastercard Incorporated has a 1 year low of $464.52 and a 1 year high of $601.62. The company has a debt-to-equity ratio of 3.96, a quick ratio of 1.06 and a current ratio of 1.06.

Mastercard (NYSE:MA) last posted its earnings results on Thursday, July 30th. The credit services provider reported $5.04 earnings per share for the quarter, beating the consensus estimate of $4.77 by $0.27. Mastercard had a return on equity of 239.99% and a net margin of 46.34%.The company had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.08 billion. During the same quarter in the prior year, the company earned $4.15 earnings per share. Mastercard’s revenue was up 14.1% compared to the same quarter last year. Sell-side analysts forecast that Mastercard Incorporated will post 19.86 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Thursday, July 9th were given a $0.87 dividend. The ex-dividend date was Thursday, July 9th. This represents a $3.48 annualized dividend and a dividend yield of 0.6%. Mastercard’s payout ratio is currently 19.14%.

Insider Transactions at Mastercard

In other Mastercard news, insider Linda Kirkpatrick sold 4,280 shares of Mastercard stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $570.31, for a total transaction of $2,440,926.80. Following the completion of the transaction, the insider owned 31,179 shares in the company, valued at approximately $17,781,695.49. The trade was a 12.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sachin Mehra sold 3,266 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $584.00, for a total transaction of $1,907,344.00. Following the completion of the sale, the insider directly owned 36,650 shares in the company, valued at $21,403,600. This trade represents a 8.18% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 74,623 shares of company stock worth $42,544,606 in the last 90 days. Insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Dbs Bank raised Mastercard to a “moderate buy” rating in a report on Friday, August 21st. Raymond James Financial restated an “outperform” rating and set a $632.00 target price on shares of Mastercard in a research report on Friday, July 31st. Piper Sandler started coverage on shares of Mastercard in a research note on Monday, June 29th. They set an “overweight” rating and a $597.00 price target on the stock. Robert W. Baird increased their price target on shares of Mastercard from $660.00 to $680.00 and gave the company an “outperform” rating in a report on Tuesday, July 7th. Finally, Barclays raised their price objective on shares of Mastercard from $640.00 to $660.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Five analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Mastercard currently has an average rating of “Buy” and an average price target of $666.64.

About Mastercard

Mastercard Incorporated (NYSE: MA) is a global technology company that operates a payments network connecting consumers, financial institutions, merchants, governments and businesses. The company facilitates electronic payment transactions, including credit, debit, prepaid and commercial payments, by providing the infrastructure used to authorize, clear and settle transactions.

Mastercard’s products and services include its Mastercard-branded payment cards, digital payment tools, contactless payment technology and payment solutions for businesses and governments.