Wallace Advisory Group LLC Sells 210 Shares of Mastercard Incorporated (NYSE:MA)

Wallace Advisory Group LLC decreased its stake in Mastercard Incorporated (NYSE:MA) by 5.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,753 shares of the credit services provider’s stock after selling 210 shares during the period. Mastercard comprises about 1.2% of Wallace Advisory Group LLC’s investment portfolio, making the stock its 18th biggest position. Wallace Advisory Group LLC’s holdings in Mastercard were worth $1,656,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in MA. Swedbank AB purchased a new stake in Mastercard in the first quarter worth approximately $660,652,000. PineStone Asset Management Inc. lifted its holdings in shares of Mastercard by 145.6% in the 2nd quarter. PineStone Asset Management Inc. now owns 1,777,468 shares of the credit services provider’s stock worth $784,148,000 after acquiring an additional 1,053,616 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Mastercard by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 75,253,734 shares of the credit services provider’s stock valued at $32,096,470,000 after purchasing an additional 742,076 shares in the last quarter. Capital International Investors grew its holdings in shares of Mastercard by 3.3% during the 4th quarter. Capital International Investors now owns 21,041,685 shares of the credit services provider’s stock valued at $8,974,478,000 after purchasing an additional 676,452 shares during the last quarter. Finally, Capital Research Global Investors raised its position in Mastercard by 4.7% in the 4th quarter. Capital Research Global Investors now owns 13,608,023 shares of the credit services provider’s stock worth $5,803,956,000 after purchasing an additional 605,909 shares during the period. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on MA shares. Citigroup upped their price target on shares of Mastercard from $528.00 to $538.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Compass Point started coverage on Mastercard in a report on Wednesday, September 4th. They set a “neutral” rating and a $525.00 target price for the company. KeyCorp lifted their price target on Mastercard from $490.00 to $515.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Bank of America raised their target price on shares of Mastercard from $480.00 to $509.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Finally, Evercore ISI lowered their price target on shares of Mastercard from $540.00 to $525.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Five equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $513.70.

Insider Buying and Selling

In other Mastercard news, CMO Venkata R. Madabhushi sold 4,685 shares of Mastercard stock in a transaction on Friday, September 13th. The stock was sold at an average price of $493.10, for a total transaction of $2,310,173.50. Following the completion of the transaction, the chief marketing officer now owns 17,118 shares in the company, valued at $8,440,885.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO J. Mehra Sachin sold 13,439 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were 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 owns 27,304 shares in the company, valued at $12,423,320. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CMO Venkata R. Madabhushi sold 4,685 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $493.10, for a total transaction of $2,310,173.50. Following the completion of the transaction, the chief marketing officer now owns 17,118 shares of the company’s stock, valued at $8,440,885.80. The disclosure for this sale can be found here. Insiders have sold 340,809 shares of company stock worth $159,610,703 in the last 90 days. Insiders own 0.10% of the company’s stock.

Mastercard Stock Performance

Shares of Mastercard stock opened at $493.64 on Monday. Mastercard Incorporated has a 12 month low of $359.77 and a 12 month high of $501.80. The firm has a market capitalization of $458.90 billion, a P/E ratio of 39.24, a P/E/G 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 business has a fifty day simple moving average of $470.79 and a two-hundred day simple moving average of $461.76.

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

Mastercard Dividend Announcement

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

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.