EdgeRock Capital LLC Acquires 44 Shares of Mastercard Incorporated (NYSE:MA)

EdgeRock Capital LLC increased its stake in Mastercard Incorporated (NYSE:MA) by 4.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 984 shares of the credit services provider’s stock after purchasing an additional 44 shares during the period. EdgeRock Capital LLC’s holdings in Mastercard were worth $486,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Westend Capital Management LLC bought a new stake in Mastercard during the first quarter worth about $27,000. Palisade Asset Management LLC bought a new stake in Mastercard in the 1st quarter worth approximately $27,000. Scarborough Advisors LLC purchased a new stake in Mastercard in the fourth quarter worth approximately $28,000. Strategic Investment Solutions Inc. IL bought a new position in Mastercard during the second quarter valued at approximately $34,000. Finally, Fairway Wealth LLC purchased a new position in shares of Mastercard during the second quarter worth approximately $35,000. 97.28% of the stock is owned by hedge funds and other institutional investors.

Mastercard Price Performance

MA opened at $507.23 on Wednesday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.95. The company has a market cap of $471.53 billion, a price-to-earnings ratio of 40.32, a price-to-earnings-growth ratio of 2.22 and a beta of 1.10. The stock has a fifty day simple moving average of $483.26 and a two-hundred day simple moving average of $463.24. Mastercard Incorporated has a 12-month low of $359.77 and a 12-month high of $509.88.

Mastercard (NYSE:MA) last issued its quarterly earnings results on Wednesday, July 31st. The credit services provider reported $3.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.51 by $0.08. The company 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%. Research analysts predict that Mastercard Incorporated will post 14.3 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Wednesday, October 9th will be paid a $0.66 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $2.64 annualized dividend and a dividend yield of 0.52%. Mastercard’s payout ratio is currently 20.99%.

Insider Buying and Selling

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 stock was sold at an average price of $493.10, for a total value of $2,310,173.50. Following the sale, the chief marketing officer now directly owns 17,118 shares of the company’s stock, valued at approximately $8,440,885.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO J. Mehra Sachin sold 13,439 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 27,304 shares of the company’s stock, valued at $12,423,320. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Venkata R. Madabhushi sold 4,685 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $493.10, for a total value of $2,310,173.50. Following the sale, the chief marketing officer now owns 17,118 shares in the company, valued at approximately $8,440,885.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 340,809 shares of company stock worth $159,610,703 in the last 90 days. Insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. TD Cowen upped their price objective on shares of Mastercard from $532.00 to $533.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Piper Sandler lifted their price objective on Mastercard from $531.00 to $536.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Citigroup increased their target price on Mastercard from $528.00 to $538.00 and gave the company a “buy” rating in a report on Thursday, August 1st. William Blair raised Mastercard to a “strong-buy” rating in a research note on Wednesday, July 31st. Finally, BMO Capital Markets reissued an “outperform” rating and set a $520.00 price objective on shares of Mastercard in a research note on Wednesday, August 14th. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $523.27.

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.