Altus Wealth Group LLC Decreases Stock Position in Mastercard Incorporated (NYSE:MA)

Altus Wealth Group LLC lessened its holdings in shares of Mastercard Incorporated (NYSE:MA) by 2.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 874 shares of the credit services provider’s stock after selling 25 shares during the period. Altus Wealth Group LLC’s holdings in Mastercard were worth $432,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Palisade Asset Management LLC purchased a new position in shares of Mastercard during the 1st quarter worth approximately $27,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Mastercard in the 2nd quarter worth approximately $34,000. Fairway Wealth LLC bought a new stake in shares of Mastercard in the 2nd quarter worth approximately $35,000. Lowe Wealth Advisors LLC boosted its position in shares of Mastercard by 74.0% in the 3rd 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 in the last quarter. Finally, Valued Wealth Advisors LLC boosted its position in shares of Mastercard by 168.6% in the 1st quarter. Valued Wealth Advisors LLC now owns 94 shares of the credit services provider’s stock worth $45,000 after purchasing an additional 59 shares in the last quarter. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Insiders Place Their Bets

In other 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 completion of the sale, the chief marketing officer now directly owns 15,031 shares in the company, valued at approximately $7,363,085.66. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CMO Venkata R. Madabhushi sold 4,685 shares of the business’s 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 completion of the transaction, the chief marketing officer now directly owns 15,031 shares in the company, valued at $7,363,085.66. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO J. Mehra Sachin sold 13,439 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $455.00, for a total transaction of $6,114,745.00. Following the transaction, the chief financial officer now owns 27,304 shares of the company’s stock, valued at $12,423,320. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 340,809 shares of company stock valued at $159,610,703. 0.10% of the stock is currently owned by insiders.

Mastercard Stock Up 0.2 %

MA stock traded up $0.79 during trading on Wednesday, hitting $513.81. 293,480 shares of the company’s stock traded hands, compared to its average volume of 2,428,247. The business has a fifty day simple moving average of $489.16 and a two-hundred day simple moving average of $464.58. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.95. Mastercard Incorporated has a 1 year low of $359.77 and a 1 year high of $518.82. The firm has a market capitalization of $477.65 billion, a P/E ratio of 40.78, a PEG ratio of 2.22 and a beta of 1.10.

Mastercard (NYSE:MA) last released its quarterly earnings results on Wednesday, July 31st. The credit services provider reported $3.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $0.08. Mastercard had a net margin of 46.45% and a return on equity of 179.78%. The business had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.85 billion. Sell-side analysts anticipate that Mastercard Incorporated will post 14.3 EPS for the current year.

Mastercard Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Wednesday, October 9th will be issued a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend is Wednesday, October 9th. Mastercard’s dividend payout ratio is currently 20.99%.

Analyst Ratings Changes

A number of brokerages have recently commented on MA. JPMorgan Chase & Co. boosted their price target on Mastercard from $570.00 to $593.00 and gave the stock an “overweight” rating in a research report on Monday. Piper Sandler upped their price objective on Mastercard from $531.00 to $536.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Argus raised Mastercard to a “strong-buy” rating in a research report on Thursday, August 1st. Bank of America increased 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. Finally, Barclays upped their price objective on Mastercard from $536.00 to $576.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Four analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $525.68.

Mastercard 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.