Wallace Capital Management Inc. Increases Holdings in Mastercard Incorporated (NYSE:MA)

Wallace Capital Management Inc. increased its holdings in Mastercard Incorporated (NYSE:MA) by 8.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,550 shares of the credit services provider’s stock after purchasing an additional 200 shares during the period. Wallace Capital Management Inc.’s holdings in Mastercard were worth $1,125,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Hoxton Planning & Management LLC raised its stake in Mastercard by 1.4% in the 1st quarter. Hoxton Planning & Management LLC now owns 1,637 shares of the credit services provider’s stock worth $788,000 after acquiring an additional 22 shares during the last quarter. Quilter Plc boosted its position in Mastercard by 2.8% in the second quarter. Quilter Plc now owns 801 shares of the credit services provider’s stock valued at $353,000 after buying an additional 22 shares during the last quarter. Carolinas Wealth Consulting LLC increased its holdings in Mastercard by 5.0% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 484 shares of the credit services provider’s stock worth $206,000 after buying an additional 23 shares during the period. Benin Management CORP raised its position in Mastercard by 3.0% during the 1st quarter. Benin Management CORP now owns 794 shares of the credit services provider’s stock worth $382,000 after buying an additional 23 shares during the last quarter. Finally, Atticus Wealth Management LLC lifted its stake in Mastercard by 1.3% during the 1st quarter. Atticus Wealth Management LLC now owns 1,734 shares of the credit services provider’s stock valued at $835,000 after acquiring an additional 23 shares during the period. 97.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CMO Venkata R. Madabhushi sold 4,685 shares of the stock in a transaction that occurred 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 completion of the sale, the chief marketing officer now directly owns 15,031 shares of the company’s stock, valued at $7,363,085.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Mastercard news, CFO J. Mehra Sachin sold 13,439 shares of Mastercard stock in a transaction that occurred 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 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Venkata R. Madabhushi sold 4,685 shares of the company’s stock in a transaction that occurred 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 sale, 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. In the last three months, insiders sold 340,809 shares of company stock valued at $159,610,703. Insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MA shares. JPMorgan Chase & Co. boosted their price objective on Mastercard from $500.00 to $570.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. TD Cowen increased their price target on shares of Mastercard from $532.00 to $533.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Barclays upped their price objective on shares of Mastercard from $530.00 to $536.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Citigroup upped their price target on Mastercard from $528.00 to $538.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Evercore ISI reduced their target price on Mastercard from $540.00 to $525.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Five 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. According to MarketBeat.com, Mastercard currently has an average rating of “Moderate Buy” and an average price target of $513.70.

Mastercard Trading Up 0.5 %

MA opened at $493.64 on Monday. The business’s 50-day simple moving average is $470.79 and its 200-day simple moving average is $461.76. 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. Mastercard Incorporated has a one year low of $359.77 and a one year high of $501.80. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.14 and a current ratio of 1.14.

Mastercard (NYSE:MA) last released its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $6.85 billion. Mastercard had a net margin of 46.45% and a return on equity of 179.78%. As a group, equities research analysts expect that Mastercard Incorporated will post 14.29 EPS for the current fiscal year.

Mastercard Dividend Announcement

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

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.