Provident Wealth Management LLC Buys 43 Shares of Mastercard Incorporated (NYSE:MA)

Provident Wealth Management LLC grew its stake in shares of Mastercard Incorporated (NYSE:MA) by 9.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 509 shares of the credit services provider’s stock after acquiring an additional 43 shares during the quarter. Provident Wealth Management LLC’s holdings in Mastercard were worth $251,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Indiana Trust & Investment Management Co increased its holdings in shares of Mastercard by 10.7% in the 3rd quarter. Indiana Trust & Investment Management Co now owns 2,019 shares of the credit services provider’s stock worth $997,000 after purchasing an additional 195 shares in the last quarter. Regent Peak Wealth Advisors LLC boosted its position in shares of Mastercard by 1.4% during the third quarter. Regent Peak Wealth Advisors LLC now owns 1,755 shares of the credit services provider’s stock valued at $867,000 after buying an additional 24 shares during the last quarter. Transform Wealth LLC increased its holdings in Mastercard by 1.4% in the 3rd quarter. Transform Wealth LLC now owns 15,083 shares of the credit services provider’s stock worth $7,448,000 after buying an additional 211 shares in the last quarter. McKinley Carter Wealth Services Inc. raised its position in Mastercard by 0.3% in the 3rd quarter. McKinley Carter Wealth Services Inc. now owns 20,576 shares of the credit services provider’s stock worth $10,160,000 after buying an additional 58 shares during the last quarter. Finally, Sumitomo Life Insurance Co. lifted its stake in Mastercard by 0.9% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 27,927 shares of the credit services provider’s stock valued at $13,790,000 after acquiring an additional 259 shares during the period. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Piper Sandler raised their target price on shares of Mastercard from $531.00 to $536.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. William Blair raised Mastercard to a “strong-buy” rating in a report on Wednesday, July 31st. Barclays upped their price objective on Mastercard from $536.00 to $576.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Citigroup raised their target price on Mastercard from $528.00 to $538.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Evercore ISI cut their target price on shares of Mastercard from $540.00 to $525.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, Mastercard presently has an average rating of “Moderate Buy” and a consensus target price of $524.64.

Insider Activity at Mastercard

In other Mastercard news, CMO Venkata R. Madabhushi sold 4,685 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $493.10, for a total transaction of $2,310,173.50. Following the completion of the sale, the chief marketing officer now directly owns 17,118 shares of the company’s stock, valued at approximately $8,440,885.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, 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 transaction of $2,310,173.50. Following the transaction, the chief marketing officer now directly owns 17,118 shares in the company, valued at $8,440,885.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Foundation Mastercard sold 119,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $468.46, for a total value of $55,746,740.00. Following the completion of the sale, the insider now directly owns 92,033,308 shares of the company’s stock, valued at approximately $43,113,923,465.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 340,809 shares of company stock valued at $159,610,703 over the last quarter. 0.10% of the stock is owned by corporate insiders.

Mastercard Price Performance

MA opened at $514.07 on Thursday. The company has a market capitalization of $477.89 billion, a price-to-earnings ratio of 40.86, a PEG ratio of 2.22 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 $515.40. The business’s fifty day simple moving average is $484.54 and its 200-day simple moving average is $463.60.

Mastercard (NYSE:MA) last announced 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 during 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%. On average, equities research analysts anticipate that Mastercard Incorporated will post 14.3 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

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 paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend 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.