PineStone Asset Management Inc. Has $568.09 Million Holdings in Mastercard Incorporated (NYSE:MA)

PineStone Asset Management Inc. decreased its position in Mastercard Incorporated (NYSE:MA) by 35.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,150,450 shares of the credit services provider’s stock after selling 627,018 shares during the quarter. Mastercard comprises 5.5% of PineStone Asset Management Inc.’s investment portfolio, making the stock its 6th largest holding. PineStone Asset Management Inc.’s holdings in Mastercard were worth $568,092,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Highline Wealth Partners LLC acquired a new stake in Mastercard in the 3rd quarter worth approximately $25,000. Palisade Asset Management LLC acquired a new stake in Mastercard in the 1st quarter worth approximately $27,000. Strategic Investment Solutions Inc. IL acquired a new stake in Mastercard in the 2nd quarter worth approximately $34,000. Fairway Wealth LLC acquired a new stake in Mastercard in the 2nd quarter worth approximately $35,000. Finally, Lowe Wealth Advisors LLC lifted its holdings in 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 during the last quarter. Institutional investors own 97.28% of the company’s stock.

Mastercard Stock Performance

MA opened at $499.08 on Friday. The stock’s 50 day simple moving average is $494.93 and its 200-day simple moving average is $466.50. Mastercard Incorporated has a 1 year low of $373.11 and a 1 year high of $527.90. The stock has a market cap of $461.07 billion, a PE ratio of 38.16, a P/E/G ratio of 2.27 and a beta of 1.10. 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 (NYSE:MA) last announced its quarterly earnings results 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. Mastercard had a return on equity of 179.78% and a net margin of 46.45%. The firm had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $6.85 billion. Sell-side analysts forecast that Mastercard Incorporated will post 14.33 EPS for the current year.

Mastercard Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Wednesday, October 9th will be given a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date is Wednesday, October 9th. Mastercard’s dividend payout ratio (DPR) is 20.18%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on MA shares. Piper Sandler boosted their target price on Mastercard from $531.00 to $536.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. William Blair upgraded Mastercard to a “strong-buy” rating in a report on Wednesday, July 31st. Bank of America upped their price target on Mastercard from $480.00 to $509.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. JPMorgan Chase & Co. upped their price target on Mastercard from $570.00 to $593.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Finally, Royal Bank of Canada upped their price target on Mastercard from $500.00 to $526.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Four investment 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. According to data from MarketBeat, Mastercard has an average rating of “Moderate Buy” and a consensus target price of $525.68.

Insider Buying and Selling at Mastercard

In other Mastercard news, major shareholder Foundation Mastercard sold 119,000 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $468.46, for a total value of $55,746,740.00. Following the sale, the insider now directly owns 92,033,308 shares in the company, valued at $43,113,923,465.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CMO Venkata R. Madabhushi sold 4,685 shares of the stock in a transaction on Friday, September 13th. The stock was 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Foundation Mastercard sold 119,000 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $468.46, for a total value of $55,746,740.00. Following the sale, the insider now owns 92,033,308 shares in the company, valued at $43,113,923,465.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 340,809 shares of company stock worth $159,610,703 over the last three months. Company insiders own 0.10% of the company’s stock.

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.