Procyon Advisors LLC Purchases 96 Shares of Mastercard Incorporated (NYSE:MA)

Procyon Advisors LLC increased its holdings in shares of Mastercard Incorporated (NYSE:MA) by 1.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,137 shares of the credit services provider’s stock after acquiring an additional 96 shares during the period. Procyon Advisors LLC’s holdings in Mastercard were worth $3,524,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MA. Swedbank AB bought a new position in Mastercard in the first quarter valued at about $660,652,000. PineStone Asset Management Inc. boosted its stake 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 valued at $784,148,000 after purchasing an additional 1,053,616 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Mastercard by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 75,253,734 shares of the credit services provider’s stock worth $32,096,470,000 after buying an additional 742,076 shares during the period. Manning & Napier Advisors LLC bought a new stake in shares of Mastercard during the second quarter worth approximately $259,071,000. Finally, Global Assets Advisory LLC bought a new position in Mastercard in the first quarter valued at approximately $203,198,000. 97.28% of the stock is owned by institutional investors and hedge funds.

Mastercard Stock Up 0.9 %

Shares of NYSE MA opened at $502.26 on Monday. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.14 and a quick ratio of 1.14. Mastercard Incorporated has a 1 year low of $359.77 and a 1 year high of $502.92. The stock has a market capitalization of $466.91 billion, a P/E ratio of 39.93, a P/E/G ratio of 2.22 and a beta of 1.10. The company has a 50-day moving average price of $480.78 and a 200-day moving average price of $462.88.

Mastercard (NYSE:MA) last issued its quarterly earnings data on Wednesday, July 31st. The credit services provider reported $3.59 EPS for the quarter, topping the consensus estimate of $3.51 by $0.08. Mastercard had a return on equity of 179.78% and a net margin of 46.45%. The firm had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.85 billion. On average, equities research analysts forecast that Mastercard Incorporated will post 14.3 EPS for the current fiscal year.

Mastercard Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders 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 dividend on an annualized basis and a yield of 0.53%. Mastercard’s dividend payout ratio (DPR) is presently 20.99%.

Insider Activity

In other Mastercard news, CFO J. Mehra Sachin sold 13,439 shares of the business’s 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 sale, the chief financial officer now directly 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 filing with the SEC, which is available through the SEC website. In other news, major shareholder Foundation Mastercard sold 109,000 shares of Mastercard stock in a transaction on Monday, August 19th. The shares were sold at an average price of $467.45, for a total transaction of $50,952,050.00. Following the completion of the sale, the insider now directly owns 91,924,308 shares of the company’s stock, valued at approximately $42,970,017,774.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO J. Mehra Sachin sold 13,439 shares of the business’s 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 completion of the sale, the chief financial officer now owns 27,304 shares of the company’s stock, valued at $12,423,320. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 340,809 shares of company stock valued at $159,610,703 in the last ninety days. 0.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MA has been the subject of several recent research reports. BMO Capital Markets reiterated an “outperform” rating and set a $520.00 target price 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 company a “neutral” rating in a research note on Tuesday, September 17th. Oppenheimer assumed coverage on Mastercard in a research report on Tuesday, October 1st. They set an “outperform” rating and a $591.00 price target for the company. Evercore ISI lowered their price objective 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. Finally, JPMorgan Chase & Co. increased their target price on shares of Mastercard from $500.00 to $570.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $523.27.

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.