Harvey Investment Co. LLC Purchases 575 Shares of Mastercard Incorporated (NYSE:MA)

Harvey Investment Co. LLC lifted its position in Mastercard Incorporated (NYSE:MA) by 1.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 44,686 shares of the credit services provider’s stock after acquiring an additional 575 shares during the period. Mastercard comprises 2.5% of Harvey Investment Co. LLC’s investment portfolio, making the stock its 15th largest holding. Harvey Investment Co. LLC’s holdings in Mastercard were worth $22,066,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in MA. First Trust Direct Indexing L.P. boosted its position in shares of Mastercard by 14.2% during the first quarter. First Trust Direct Indexing L.P. now owns 20,552 shares of the credit services provider’s stock valued at $9,897,000 after buying an additional 2,556 shares during the period. Coppell Advisory Solutions Corp. purchased a new position in Mastercard during the 1st quarter valued at $608,000. SteelPeak Wealth LLC boosted its stake in shares of Mastercard by 48.6% during the second quarter. SteelPeak Wealth LLC now owns 4,928 shares of the credit services provider’s stock valued at $2,174,000 after purchasing an additional 1,612 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in Mastercard in the 1st quarter worth about $2,938,000. Finally, OMC Financial Services LTD bought a new stake in shares of Mastercard during the first quarter valued at approximately $17,854,000. 97.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CMO Venkata R. Madabhushi sold 4,685 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $7,363,085.66. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Mastercard news, CMO Venkata R. Madabhushi sold 4,685 shares of the company’s 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 sale, the chief marketing officer now directly owns 15,031 shares of the company’s stock, valued at approximately $7,363,085.66. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Foundation Mastercard sold 90,000 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $468.80, for a total value 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 trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 340,809 shares of company stock valued at $159,610,703 over the last quarter. 0.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on MA shares. 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. Citigroup upped their price objective on shares of Mastercard from $528.00 to $538.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. BMO Capital Markets reiterated an “outperform” rating and set a $520.00 target price on shares of Mastercard in a report on Wednesday, August 14th. BNP Paribas lowered shares of Mastercard from an “outperform” rating to a “neutral” rating and set a $470.00 price target for the company. in a report on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Mastercard from $570.00 to $593.00 and gave the company an “overweight” rating in a research note on Monday. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $525.68.

Mastercard Stock Down 0.3 %

NYSE:MA opened at $511.96 on Thursday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.95. Mastercard Incorporated has a twelve month low of $359.77 and a twelve month high of $518.82. The company has a market cap of $475.93 billion, a PE ratio of 40.84, a P/E/G ratio of 2.22 and a beta of 1.10. The company’s 50 day moving average is $490.23 and its two-hundred day moving average is $464.93.

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

Mastercard Announces Dividend

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

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.