Mastercard Incorporated (NYSE:MA) Shares Sold by Granite Bay Wealth Management LLC

Granite Bay Wealth Management LLC trimmed its holdings in Mastercard Incorporated (NYSE:MA) by 3.7% during the third quarter, Holdings Channel reports. The institutional investor owned 895 shares of the credit services provider’s stock after selling 34 shares during the period. Granite Bay Wealth Management LLC’s holdings in Mastercard were worth $442,000 at the end of the most recent quarter.

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

Mastercard Price Performance

Shares of NYSE MA opened at $494.94 on Friday. Mastercard Incorporated has a twelve month low of $359.77 and a twelve month high of $501.80. 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 has a market capitalization of $460.10 billion, a price-to-earnings ratio of 39.34, a price-to-earnings-growth ratio of 1.96 and a beta of 1.10. The business has a 50 day simple moving average of $475.36 and a 200-day simple moving average of $462.47.

Mastercard (NYSE:MA) last issued its quarterly 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. Mastercard had a return on equity of 179.78% and a net margin of 46.45%. The business had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.85 billion. As a group, equities research analysts expect that Mastercard Incorporated will post 14.29 earnings per share for the current year.

Mastercard Announces Dividend

The business 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%.

Insider Activity at Mastercard

In related news, major shareholder Foundation Mastercard sold 119,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $468.46, for a total transaction of $55,746,740.00. Following the completion of the transaction, the insider now owns 92,033,308 shares in the company, valued at approximately $43,113,923,465.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Mastercard news, major shareholder Foundation Mastercard sold 119,000 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $468.46, for a total transaction of $55,746,740.00. Following the completion of the transaction, the insider now owns 92,033,308 shares in the company, valued at approximately $43,113,923,465.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Venkata R. Madabhushi sold 4,685 shares of the business’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 approximately $7,363,085.66. The disclosure for this sale can be found here. Insiders sold 340,809 shares of company stock worth $159,610,703 in the last 90 days. 0.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Bank of America lifted their price objective on Mastercard from $480.00 to $509.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Citigroup lifted their price objective on Mastercard from $528.00 to $538.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Barclays lifted their price objective on Mastercard from $530.00 to $536.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. TD Cowen boosted their price target on Mastercard from $532.00 to $533.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Oppenheimer started coverage on Mastercard in a research report on Tuesday. They set an “outperform” rating and a $591.00 price target on the stock. Five investment 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 has a consensus rating of “Moderate Buy” and an average target price of $517.22.

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.