New Millennium Group LLC Boosts Stock Position in Mastercard Incorporated (NYSE:MA)

New Millennium Group LLC grew its position in Mastercard Incorporated (NYSE:MA) by 320.1% during the third quarter, Holdings Channel reports. The institutional investor owned 1,924 shares of the credit services provider’s stock after acquiring an additional 1,466 shares during the quarter. New Millennium Group LLC’s holdings in Mastercard were worth $950,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. PNC Financial Services Group Inc. increased its holdings in shares of Mastercard by 0.3% during the third quarter. PNC Financial Services Group Inc. now owns 858,473 shares of the credit services provider’s stock valued at $423,914,000 after acquiring an additional 2,980 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Mastercard during the third quarter valued at $114,205,000. Banque Cantonale Vaudoise grew its position in Mastercard by 13.9% during the 3rd quarter. Banque Cantonale Vaudoise now owns 44,133 shares of the credit services provider’s stock worth $21,793,000 after purchasing an additional 5,395 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co purchased a new position in shares of Mastercard during the 3rd quarter valued at about $202,000. Finally, Princeton Capital Management LLC grew its position in Mastercard by 17.7% during the third quarter. Princeton Capital Management LLC now owns 10,459 shares of the credit services provider’s stock valued at $5,164,000 after buying an additional 1,572 shares during the period. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Insider Activity

In other Mastercard news, CMO Venkata R. Madabhushi sold 4,685 shares of the business’s stock in a transaction on 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 sale, the chief marketing officer now directly owns 17,118 shares in the company, valued at approximately $8,440,885.80. The trade was a 21.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Foundation Mastercard sold 90,000 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $468.80, for a total transaction of $42,192,000.00. Following the sale, the insider now directly owns 91,649,308 shares in the company, valued at approximately $42,965,195,590.40. This represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 99,370 shares of company stock valued at $46,797,168. Company insiders own 0.10% of the company’s stock.

Mastercard Price Performance

Shares of NYSE MA opened at $521.63 on Tuesday. The stock has a market cap of $478.77 billion, a P/E ratio of 39.46, a P/E/G ratio of 2.32 and a beta of 1.10. Mastercard Incorporated has a twelve month low of $398.26 and a twelve month high of $534.03. The stock has a 50 day moving average of $504.78 and a two-hundred day moving average of $471.95. 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 issued its quarterly earnings results on Thursday, October 31st. The credit services provider reported $3.89 earnings per share for the quarter, topping analysts’ consensus estimates of $3.73 by $0.16. The firm had revenue of $7.37 billion during the quarter, compared to analysts’ expectations of $7.27 billion. Mastercard had a net margin of 45.26% and a return on equity of 178.27%. Mastercard’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.39 EPS. On average, research analysts forecast that Mastercard Incorporated will post 14.47 earnings per share for the current year.

Mastercard Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have weighed in on MA. Susquehanna upped their price objective on shares of Mastercard from $540.00 to $605.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. lowered their target price on Mastercard from $593.00 to $580.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Compass Point began coverage on shares of Mastercard in a research report on Wednesday, September 4th. They set a “neutral” rating and a $525.00 price objective for the company. Bank of America lifted their target price on Mastercard from $480.00 to $509.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Finally, TD Cowen raised their price target on Mastercard from $533.00 to $567.00 and gave the stock a “buy” rating in a research report on Friday. Four investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $549.16.

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.