Coastal Bridge Advisors LLC Sells 172 Shares of Mastercard Incorporated (NYSE:MA)

Coastal Bridge Advisors LLC reduced its holdings in Mastercard Incorporated (NYSE:MA) by 26.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 473 shares of the credit services provider’s stock after selling 172 shares during the period. Coastal Bridge Advisors LLC’s holdings in Mastercard were worth $209,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MA. NewEdge Advisors LLC increased its position in shares of Mastercard by 19.3% in the second quarter. NewEdge Advisors LLC now owns 61,447 shares of the credit services provider’s stock valued at $27,108,000 after acquiring an additional 9,922 shares during the last quarter. Silver Lake Advisory LLC acquired a new position in shares of Mastercard during the 2nd quarter worth approximately $1,480,000. Magnolia Capital Advisors LLC raised its stake in shares of Mastercard by 440.2% during the 2nd quarter. Magnolia Capital Advisors LLC now owns 4,743 shares of the credit services provider’s stock worth $2,092,000 after purchasing an additional 3,865 shares in the last quarter. Copperwynd Financial LLC boosted its holdings in shares of Mastercard by 14.9% in the 2nd quarter. Copperwynd Financial LLC now owns 3,817 shares of the credit services provider’s stock valued at $1,770,000 after buying an additional 494 shares during the last quarter. Finally, Creative Planning grew its stake in shares of Mastercard by 2.1% in the second quarter. Creative Planning now owns 194,263 shares of the credit services provider’s stock valued at $85,701,000 after buying an additional 3,972 shares in the last quarter. 97.28% of the stock is owned by institutional investors.

Analyst Ratings Changes

MA has been the subject of a number of analyst reports. Piper Sandler lifted their price objective on shares of Mastercard from $531.00 to $536.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Barclays boosted their price target on Mastercard from $530.00 to $536.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $520.00 price objective on shares of Mastercard in a research report on Wednesday, August 14th. Bank of America boosted their target price on Mastercard from $480.00 to $509.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Finally, TD Cowen raised their price target on Mastercard from $532.00 to $533.00 and gave the company a “buy” rating in a report on Thursday, August 1st. 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. According to MarketBeat, Mastercard currently has an average rating of “Moderate Buy” and an average target price of $513.70.

Mastercard Stock Up 0.5 %

MA stock opened at $493.64 on Friday. Mastercard Incorporated has a 52 week low of $359.77 and a 52 week high of $501.80. The business has a 50-day simple moving average of $470.79 and a 200 day simple moving average of $461.86. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.95. The company has a market cap of $458.90 billion, a PE ratio of 39.24, a price-to-earnings-growth ratio of 1.96 and a beta of 1.10.

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, topping analysts’ consensus estimates of $3.51 by $0.08. The company had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.85 billion. Mastercard had a net margin of 46.45% and a return on equity of 179.78%. Sell-side analysts anticipate that Mastercard Incorporated will post 14.29 EPS for the current fiscal year.

Mastercard Announces Dividend

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

Insider Buying and Selling

In other Mastercard news, CMO Venkata R. Madabhushi sold 4,685 shares of Mastercard stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $493.10, for a total value of $2,310,173.50. Following the transaction, the chief marketing officer now owns 17,118 shares in the company, valued at $8,440,885.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO J. Mehra Sachin sold 13,439 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $455.00, for a total value of $6,114,745.00. Following the completion of the transaction, the chief financial officer now directly owns 27,304 shares in the company, valued at approximately $12,423,320. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Venkata R. Madabhushi sold 4,685 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $493.10, for a total value of $2,310,173.50. Following the sale, the chief marketing officer now owns 17,118 shares in the company, valued at approximately $8,440,885.80. The disclosure for this sale can be found here. Insiders sold a total of 340,809 shares of company stock worth $159,610,703 in the last ninety days. 0.10% of the stock is owned by insiders.

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.