Modus Advisors LLC Sells 51 Shares of Mastercard Incorporated (NYSE:MA)

Modus Advisors LLC trimmed its holdings in Mastercard Incorporated (NYSE:MA) by 0.8% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 6,688 shares of the credit services provider’s stock after selling 51 shares during the quarter. Modus Advisors LLC’s holdings in Mastercard were worth $3,302,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. SS&H Financial Advisors Inc. raised its stake in Mastercard by 4.1% in the third quarter. SS&H Financial Advisors Inc. now owns 3,075 shares of the credit services provider’s stock worth $1,518,000 after buying an additional 121 shares in the last quarter. Advocate Group LLC grew its holdings in Mastercard by 3.5% in the third quarter. Advocate Group LLC now owns 8,254 shares of the credit services provider’s stock worth $4,076,000 after purchasing an additional 277 shares during the period. Cypress Wealth Services LLC grew its holdings in Mastercard by 5.3% in the third quarter. Cypress Wealth Services LLC now owns 1,179 shares of the credit services provider’s stock worth $582,000 after purchasing an additional 59 shares during the period. Northstar Group Inc. grew its holdings in shares of Mastercard by 11.2% during the third quarter. Northstar Group Inc. now owns 726 shares of the credit services provider’s stock valued at $358,000 after buying an additional 73 shares during the last quarter. Finally, Morton Capital Management LLC CA grew its holdings in shares of Mastercard by 34.0% during the third quarter. Morton Capital Management LLC CA now owns 776 shares of the credit services provider’s stock valued at $383,000 after buying an additional 197 shares during the last quarter. 97.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MA. Piper Sandler increased their price target on shares of Mastercard from $531.00 to $536.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Evercore ISI dropped their target price on shares of Mastercard from $540.00 to $525.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Royal Bank of Canada raised their target price on shares of Mastercard from $500.00 to $526.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Oppenheimer began coverage on shares of Mastercard in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $591.00 price target on the stock. Finally, KeyCorp increased their price target on shares of Mastercard from $490.00 to $515.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Five research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $518.96.

Mastercard Stock Performance

Shares of MA stock traded down $0.80 during trading hours on Thursday, hitting $499.15. The company’s stock had a trading volume of 396,368 shares, compared to its average volume of 2,436,976. The company has a 50 day moving average of $479.26 and a 200 day moving average of $462.66. The stock has a market cap of $464.02 billion, a PE ratio of 39.57, a price-to-earnings-growth 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. Mastercard Incorporated has a 12-month low of $359.77 and a 12-month high of $501.80.

Mastercard (NYSE:MA) last posted its quarterly earnings results on Wednesday, July 31st. The credit services provider reported $3.59 earnings per share for the quarter, topping the consensus estimate of $3.51 by $0.08. The firm had revenue of $6.96 billion for 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%. On average, sell-side analysts forecast 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. This represents a $2.64 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Wednesday, October 9th. Mastercard’s dividend payout ratio is currently 20.99%.

Insider Buying and Selling

In other Mastercard news, major shareholder Foundation Mastercard sold 119,000 shares of Mastercard stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $468.46, for a total transaction of $55,746,740.00. Following the completion of the sale, the insider now directly owns 92,033,308 shares in the company, valued at $43,113,923,465.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO J. Mehra Sachin sold 13,439 shares of Mastercard stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 27,304 shares in the company, valued at $12,423,320. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Foundation Mastercard sold 119,000 shares of Mastercard 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 of the company’s stock, valued at $43,113,923,465.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 340,809 shares of company stock worth $159,610,703. Insiders own 0.10% of the company’s stock.

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.