Ascent Group LLC Cuts Stake in Mastercard Incorporated (NYSE:MA)

Ascent Group LLC cut its position in Mastercard Incorporated (NYSE:MA) by 9.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 23,168 shares of the credit services provider’s stock after selling 2,397 shares during the period. Mastercard makes up about 0.9% of Ascent Group LLC’s investment portfolio, making the stock its 21st largest holding. Ascent Group LLC’s holdings in Mastercard were worth $11,440,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MA. Highline Wealth Partners LLC bought a new position in shares of Mastercard during the 3rd quarter valued at $25,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Mastercard during the 2nd quarter valued at about $34,000. Fairway Wealth LLC bought a new position in shares of Mastercard in the 2nd quarter worth approximately $35,000. First Personal Financial Services purchased a new position in shares of Mastercard in the third quarter worth approximately $39,000. Finally, Lowe Wealth Advisors LLC grew its position in Mastercard by 74.0% during the third quarter. Lowe Wealth Advisors LLC now owns 87 shares of the credit services provider’s stock valued at $43,000 after buying an additional 37 shares during the period. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on MA. Piper Sandler reiterated an “overweight” rating and set a $575.00 price target (up previously from $565.00) on shares of Mastercard in a research note on Friday, November 15th. Susquehanna lifted their target price on Mastercard from $540.00 to $605.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Macquarie upped their price target on Mastercard from $505.00 to $565.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Mizuho lifted their price objective on Mastercard from $496.00 to $532.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Mastercard from $510.00 to $580.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $549.16.

Insider Transactions at Mastercard

In other Mastercard news, CMO Venkata R. Madabhushi sold 4,685 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $489.86, for a total value of $2,294,994.10. Following the transaction, the chief marketing officer now owns 15,031 shares of the company’s stock, valued at $7,363,085.66. This represents a 23.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.10% of the company’s stock.

Mastercard Stock Up 0.1 %

Shares of NYSE MA opened at $532.94 on Monday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 2.36. Mastercard Incorporated has a 12-month low of $404.32 and a 12-month high of $535.77. The firm’s 50-day moving average price is $510.37 and its 200-day moving average price is $476.43. The stock has a market capitalization of $489.15 billion, a price-to-earnings ratio of 40.31, a P/E/G ratio of 2.37 and a beta of 1.10.

Mastercard (NYSE:MA) last posted its quarterly earnings data on Thursday, October 31st. The credit services provider reported $3.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.73 by $0.16. The business had revenue of $7.37 billion during the quarter, compared to analyst estimates of $7.27 billion. Mastercard had a return on equity of 178.27% and a net margin of 45.26%. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period last year, the company earned $3.39 EPS. On average, equities research analysts anticipate that Mastercard Incorporated will post 14.47 EPS for the current fiscal year.

Mastercard Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th were paid a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Wednesday, October 9th. Mastercard’s dividend payout ratio is currently 19.97%.

Mastercard Company 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.