Elite Wealth Management Inc. Acquires 157 Shares of Mastercard Incorporated (NYSE:MA)

Elite Wealth Management Inc. lifted its position in shares of Mastercard Incorporated (NYSE:MA) by 1.1% in the third quarter, HoldingsChannel reports. The fund owned 13,976 shares of the credit services provider’s stock after buying an additional 157 shares during the period. Mastercard accounts for approximately 0.9% of Elite Wealth Management Inc.’s investment portfolio, making the stock its 11th largest holding. Elite Wealth Management Inc.’s holdings in Mastercard were worth $6,901,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Highline Wealth Partners LLC bought a new stake in shares of Mastercard during the third quarter worth $25,000. Strategic Investment Solutions Inc. IL bought a new stake in Mastercard in the second quarter valued at about $34,000. First Personal Financial Services bought a new stake in Mastercard in the third quarter valued at about $39,000. Fairway Wealth LLC bought a new stake in Mastercard in the second quarter valued at about $35,000. Finally, Lowe Wealth Advisors LLC increased its holdings in Mastercard by 74.0% in the third quarter. Lowe Wealth Advisors LLC now owns 87 shares of the credit services provider’s stock valued at $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

Shares of MA opened at $532.19 on Thursday. 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 has a 50-day moving average of $508.78 and a 200-day moving average of $475.23. The company has a market cap of $488.46 billion, a PE ratio of 40.26, a P/E/G ratio of 2.34 and a beta of 1.10. Mastercard Incorporated has a one year low of $404.32 and a one year high of $534.03.

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

Mastercard Announces Dividend

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

Insider Activity at Mastercard

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 value of $2,310,173.50. Following the transaction, the chief marketing officer now owns 17,118 shares in the company, valued at $8,440,885.80. The trade was a 21.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $572.00 price objective on shares of Mastercard in a report on Thursday, November 14th. BNP Paribas cut Mastercard from an “outperform” rating to a “neutral” rating and set a $470.00 price objective for the company. in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. dropped their target price on Mastercard from $593.00 to $580.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Susquehanna increased their price target on Mastercard from $540.00 to $605.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Finally, Oppenheimer initiated coverage on Mastercard in a research report on Tuesday, October 1st. They set an “outperform” rating and a $591.00 price target for the company. Four research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Mastercard presently has an average rating of “Moderate Buy” and an average price target of $549.16.

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.