NewEdge Advisors LLC Purchases 9,922 Shares of Mastercard Incorporated (NYSE:MA)

NewEdge Advisors LLC increased its position in shares of Mastercard Incorporated (NYSE:MA) by 19.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 61,447 shares of the credit services provider’s stock after buying an additional 9,922 shares during the period. NewEdge Advisors LLC’s holdings in Mastercard were worth $27,108,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. VitalStone Financial LLC increased its holdings in shares of Mastercard by 300.0% in the fourth quarter. VitalStone Financial LLC now owns 60 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 45 shares during the last quarter. Westend Capital Management LLC acquired a new stake in shares of Mastercard during the 1st quarter worth about $27,000. Palisade Asset Management LLC bought a new stake in shares of Mastercard during the 1st quarter worth about $27,000. Scarborough Advisors LLC acquired a new position in Mastercard in the 4th quarter valued at about $28,000. Finally, Beaird Harris Wealth Management LLC bought a new position in Mastercard in the 4th quarter valued at about $30,000. 97.28% of the stock is owned by institutional investors.

Mastercard Trading Up 0.5 %

MA opened at $493.64 on Friday. The company has a market cap of $458.90 billion, a P/E ratio of 39.24, a PEG ratio of 1.96 and a beta of 1.10. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.95. The company’s 50 day moving average is $470.79 and its 200-day moving average is $461.86. Mastercard Incorporated has a 1-year low of $359.77 and a 1-year high of $501.80.

Mastercard (NYSE:MA) last issued its earnings results on Wednesday, July 31st. The credit services provider reported $3.59 earnings per share for the quarter, beating analysts’ consensus estimates of $3.51 by $0.08. The firm had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.85 billion. Mastercard had a net margin of 46.45% and a return on equity of 179.78%. Equities research analysts predict that Mastercard Incorporated will post 14.29 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Wednesday, October 9th will be given a dividend of $0.66 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $2.64 dividend on an annualized basis and a yield of 0.53%. Mastercard’s dividend payout ratio is currently 20.99%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MA. Susquehanna boosted their price objective on Mastercard from $535.00 to $540.00 and gave the stock a “positive” rating in a report on Thursday, August 1st. Royal Bank of Canada boosted their price target on Mastercard from $500.00 to $526.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Piper Sandler increased their price objective on Mastercard from $531.00 to $536.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Bank of America boosted their target price on shares of Mastercard from $480.00 to $509.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Finally, Compass Point initiated coverage on shares of Mastercard in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $525.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Mastercard currently has a consensus rating of “Moderate Buy” and a consensus price target of $513.70.

Insiders Place Their Bets

In other news, CFO J. Mehra Sachin sold 13,439 shares of Mastercard stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $455.00, for a total transaction of $6,114,745.00. Following the sale, the chief financial officer now directly owns 27,304 shares of the company’s stock, valued at $12,423,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CMO Venkata R. Madabhushi sold 4,685 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $489.86, for a total transaction of $2,294,994.10. Following the completion of the transaction, the chief marketing officer now directly owns 15,031 shares of the company’s stock, valued at approximately $7,363,085.66. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO J. Mehra Sachin sold 13,439 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $455.00, for a total value of $6,114,745.00. Following the completion of the sale, the chief financial officer now owns 27,304 shares in the company, valued at approximately $12,423,320. The disclosure for this sale can be found here. Insiders sold a total of 340,809 shares of company stock valued at $159,610,703 in the last 90 days. Corporate insiders own 0.10% of the company’s stock.

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.