Savvy Advisors Inc. Cuts Position in Mastercard Incorporated (NYSE:MA)

Savvy Advisors Inc. reduced its holdings in shares of Mastercard Incorporated (NYSE:MA) by 12.4% during the third quarter, HoldingsChannel.com reports. The fund owned 2,141 shares of the credit services provider’s stock after selling 304 shares during the quarter. Savvy Advisors Inc.’s holdings in Mastercard were worth $1,057,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Ashton Thomas Private Wealth LLC increased its position in Mastercard by 1.2% in the third quarter. Ashton Thomas Private Wealth LLC now owns 6,832 shares of the credit services provider’s stock worth $3,374,000 after buying an additional 83 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Mastercard by 1.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,960,296 shares of the credit services provider’s stock worth $967,994,000 after acquiring an additional 25,214 shares during the period. WealthPlan Investment Management LLC raised its stake in Mastercard by 27.7% in the 3rd quarter. WealthPlan Investment Management LLC now owns 18,827 shares of the credit services provider’s stock valued at $9,297,000 after acquiring an additional 4,087 shares during the period. Waverton Investment Management Ltd boosted its holdings in Mastercard by 31.2% in the 3rd quarter. Waverton Investment Management Ltd now owns 4,733 shares of the credit services provider’s stock worth $2,337,000 after buying an additional 1,126 shares during the period. Finally, Everhart Financial Group Inc. grew its stake in Mastercard by 17.8% in the 3rd quarter. Everhart Financial Group Inc. now owns 4,377 shares of the credit services provider’s stock valued at $2,161,000 after buying an additional 660 shares in the last quarter. 97.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on MA. Piper Sandler restated an “overweight” rating and set a $565.00 target price (up previously from $536.00) on shares of Mastercard in a research report on Friday, November 1st. KeyCorp raised their target price on Mastercard from $515.00 to $580.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. BMO Capital Markets reiterated an “outperform” rating and set a $520.00 price target on shares of Mastercard in a research report on Wednesday, August 14th. Robert W. Baird raised their price target on shares of Mastercard from $545.00 to $575.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, BNP Paribas cut shares of Mastercard from an “outperform” rating to a “neutral” rating and set a $470.00 price target on the stock. in a report on Tuesday, September 3rd. Four analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $540.17.

Mastercard Stock Performance

Shares of MA stock opened at $530.12 on Tuesday. The company has a debt-to-equity ratio of 2.36, a quick ratio of 1.29 and a current ratio of 1.29. The company has a market capitalization of $486.56 billion, a price-to-earnings ratio of 40.10, a price-to-earnings-growth ratio of 2.30 and a beta of 1.10. Mastercard Incorporated has a one year low of $393.02 and a one year high of $534.03. The company’s 50-day moving average is $500.61 and its 200 day moving average is $469.41.

Mastercard (NYSE:MA) last announced its quarterly earnings results on Thursday, October 31st. The credit services provider reported $3.89 earnings per share for the quarter, beating the consensus estimate of $3.73 by $0.16. Mastercard had a net margin of 45.26% and a return on equity of 178.27%. The company had revenue of $7.37 billion during the quarter, compared to the consensus estimate of $7.27 billion. During the same quarter last year, the firm earned $3.39 earnings per share. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. Sell-side analysts expect that Mastercard Incorporated will post 14.45 EPS for the current fiscal year.

Mastercard Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th were issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date was Wednesday, October 9th. Mastercard’s payout ratio is currently 19.97%.

Insider Activity at Mastercard

In related 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 transaction of $55,746,740.00. Following the completion of the sale, the insider now owns 92,033,308 shares in the company, valued at approximately $43,113,923,465.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CMO Venkata R. Madabhushi sold 4,685 shares of the business’s stock in a transaction that occurred 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 transaction, the chief marketing officer now 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Foundation Mastercard sold 119,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $468.46, for a total transaction of $55,746,740.00. Following the completion of the sale, the insider now owns 92,033,308 shares of the company’s stock, valued at $43,113,923,465.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 327,370 shares of company stock valued at $153,495,958 over the last ninety days. Insiders own 0.10% of the company’s stock.

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.