Mastercard Incorporated (NYSE:MA) Stock Position Raised by Hartford Funds Management Co LLC

Hartford Funds Management Co LLC boosted its position in shares of Mastercard Incorporated (NYSE:MA) by 3.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,136 shares of the credit services provider’s stock after purchasing an additional 70 shares during the period. Hartford Funds Management Co LLC’s holdings in Mastercard were worth $1,055,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC acquired a new position in Mastercard during the third quarter valued at $25,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Mastercard in the 2nd quarter valued at about $34,000. First Personal Financial Services acquired a new position in shares of Mastercard in the 3rd quarter valued at about $39,000. Fairway Wealth LLC purchased a new stake in shares of Mastercard in the second quarter worth approximately $35,000. Finally, Lowe Wealth Advisors LLC boosted its holdings in shares of Mastercard by 74.0% during the third quarter. Lowe Wealth Advisors LLC now owns 87 shares of the credit services provider’s stock worth $43,000 after purchasing an additional 37 shares during the period. 97.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MA has been the subject of a number of research analyst reports. Compass Point assumed coverage on shares of Mastercard in a research report on Wednesday, September 4th. They issued a “neutral” rating and a $525.00 target price for the company. JPMorgan Chase & Co. cut their price objective on Mastercard from $593.00 to $580.00 and set an “overweight” rating for the company in a report on Friday, November 1st. Piper Sandler restated an “overweight” rating and issued a $575.00 target price (up previously from $565.00) on shares of Mastercard in a research note on Friday, November 15th. Susquehanna raised their price target on Mastercard from $540.00 to $605.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Finally, Bank of America lifted their price target on Mastercard from $480.00 to $509.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. Four analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Mastercard has a consensus rating of “Moderate Buy” and a consensus price target of $549.16.

Insider Activity

In other Mastercard news, CMO Venkata R. Madabhushi sold 4,685 shares of Mastercard stock in a transaction on Friday, September 20th. The shares were sold at an average price of $489.86, for a total transaction of $2,294,994.10. Following the sale, the chief marketing officer now owns 15,031 shares in the company, valued at $7,363,085.66. The trade was a 23.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.10% of the stock is currently owned by company insiders.

Mastercard Trading Up 1.1 %

Shares of Mastercard stock opened at $520.86 on Friday. The company has a market cap of $478.06 billion, a price-to-earnings ratio of 39.40, a PEG ratio of 2.29 and a beta of 1.10. Mastercard Incorporated has a 1 year low of $404.32 and a 1 year high of $534.03. The company’s fifty day simple moving average is $506.91 and its 200-day simple moving average is $473.69. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 2.36.

Mastercard (NYSE:MA) last posted its quarterly earnings data on Thursday, October 31st. The credit services provider reported $3.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.73 by $0.16. Mastercard had a net margin of 45.26% and a return on equity of 178.27%. The company had revenue of $7.37 billion for the quarter, compared to the consensus estimate of $7.27 billion. During the same quarter in the previous year, the firm posted $3.39 EPS. The business’s revenue was up 12.8% compared to the same quarter last year. As a group, sell-side analysts expect that Mastercard Incorporated will post 14.47 EPS for the current year.

Mastercard Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th were issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Wednesday, October 9th. Mastercard’s payout ratio is presently 19.97%.

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.