Icon Wealth Advisors LLC Sells 11,350 Shares of Mastercard Incorporated (NYSE:MA)

Icon Wealth Advisors LLC cut its stake in shares of Mastercard Incorporated (NYSE:MA) by 86.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,782 shares of the credit services provider’s stock after selling 11,350 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Mastercard were worth $880,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in MA. International Assets Investment Management LLC increased its stake in shares of Mastercard by 120,665.3% in the third quarter. International Assets Investment Management LLC now owns 8,041,758 shares of the credit services provider’s stock valued at $3,971,020,000 after buying an additional 8,035,099 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Mastercard by 1.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,082,729 shares of the credit services provider’s stock valued at $2,241,297,000 after purchasing an additional 71,569 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Mastercard by 2.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,010,430 shares of the credit services provider’s stock worth $2,474,151,000 after buying an additional 100,550 shares during the period. Canada Pension Plan Investment Board raised its stake in Mastercard by 2.7% during the second quarter. Canada Pension Plan Investment Board now owns 4,327,168 shares of the credit services provider’s stock worth $1,908,973,000 after buying an additional 113,238 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in Mastercard by 0.9% in the second quarter. American Century Companies Inc. now owns 4,250,760 shares of the credit services provider’s stock valued at $1,875,266,000 after buying an additional 38,380 shares during the period. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on MA shares. Compass Point initiated coverage on Mastercard in a research report on Wednesday, September 4th. They issued a “neutral” rating and a $525.00 price objective for the company. Robert W. Baird lifted their price objective on shares of Mastercard from $545.00 to $575.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Mizuho raised their target price on Mastercard from $496.00 to $532.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. UBS Group upped their price target on Mastercard from $590.00 to $610.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, Argus raised Mastercard to a “strong-buy” rating in a research note on Thursday, August 1st. Four 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 data from MarketBeat.com, Mastercard currently has a consensus rating of “Moderate Buy” and an average price target of $549.16.

Mastercard Stock Performance

Shares of MA opened at $520.76 on Friday. Mastercard Incorporated has a 1 year low of $404.32 and a 1 year high of $534.03. The company has a debt-to-equity ratio of 2.36, a current ratio of 1.29 and a quick ratio of 1.29. The stock’s fifty day moving average price is $506.91 and its two-hundred day moving average price is $473.55. The firm has a market cap of $477.97 billion, a PE ratio of 39.39, a PEG ratio of 2.29 and a beta of 1.10.

Mastercard (NYSE:MA) last announced its quarterly earnings data on Thursday, October 31st. The credit services provider reported $3.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.73 by $0.16. The business had revenue of $7.37 billion for the quarter, compared to analysts’ expectations of $7.27 billion. Mastercard had a return on equity of 178.27% and a net margin of 45.26%. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period in the previous year, the business posted $3.39 EPS. On average, equities research analysts forecast that Mastercard Incorporated will post 14.47 EPS for the current year.

Mastercard Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th were given 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 dividend payout ratio is presently 19.97%.

Insider Activity at Mastercard

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

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.