Forte Capital LLC ADV Sells 1,379 Shares of Mastercard Incorporated (NYSE:MA)

Forte Capital LLC ADV lowered its stake in shares of Mastercard Incorporated (NYSE:MA) by 2.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 46,123 shares of the credit services provider’s stock after selling 1,379 shares during the quarter. Mastercard accounts for approximately 2.6% of Forte Capital LLC ADV’s portfolio, making the stock its 9th biggest position. Forte Capital LLC ADV’s holdings in Mastercard were worth $22,776,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. grew its position in Mastercard by 46.4% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 14,785 shares of the credit services provider’s stock worth $7,120,000 after purchasing an additional 4,685 shares in the last quarter. Advisory Alpha LLC grew its position in Mastercard by 32.3% in the 1st quarter. Advisory Alpha LLC now owns 995 shares of the credit services provider’s stock worth $479,000 after purchasing an additional 243 shares in the last quarter. VitalStone Financial LLC grew its position in Mastercard by 55.0% in the 1st quarter. VitalStone Financial LLC now owns 93 shares of the credit services provider’s stock worth $45,000 after purchasing an additional 33 shares in the last quarter. Gallacher Capital Management LLC bought a new stake in Mastercard in the 1st quarter worth about $228,000. Finally, SYM FINANCIAL Corp bought a new stake in Mastercard in the 1st quarter worth about $233,000. 97.28% of the stock is owned by institutional investors.

Mastercard Price Performance

MA stock opened at $521.13 on Thursday. The company has a debt-to-equity ratio of 2.36, a quick ratio of 1.29 and a current ratio of 1.29. Mastercard Incorporated has a 52 week low of $384.30 and a 52 week high of $527.90. The firm’s fifty day moving average is $498.11 and its 200 day moving average is $468.02. The firm has a market cap of $481.44 billion, a P/E ratio of 39.42, a P/E/G ratio of 2.21 and a beta of 1.10.

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

Mastercard Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Wednesday, October 9th will be issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date is Wednesday, October 9th. Mastercard’s dividend payout ratio (DPR) is presently 19.97%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MA. Compass Point began coverage on shares of Mastercard in a research report on Wednesday, September 4th. They set a “neutral” rating and a $525.00 target price for the company. Argus raised shares of Mastercard to a “strong-buy” rating in a research report on Thursday, August 1st. Mizuho increased their target price on shares of Mastercard from $496.00 to $532.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Piper Sandler restated an “overweight” rating and set a $565.00 price target (up from $536.00) on shares of Mastercard in a research note on Friday, November 1st. Finally, Oppenheimer initiated coverage on shares of Mastercard in a research note on Tuesday, October 1st. They set an “outperform” rating and a $591.00 price target on the stock. Four research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $540.17.

Insiders Place Their Bets

In other news, major shareholder Foundation Mastercard sold 109,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $467.45, for a total value of $50,952,050.00. Following the completion of the sale, the insider now directly owns 91,924,308 shares of the company’s stock, valued at approximately $42,970,017,774.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, major shareholder Foundation Mastercard sold 109,000 shares of Mastercard stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $467.45, for a total transaction of $50,952,050.00. Following the completion of the transaction, the insider now directly owns 91,924,308 shares of the company’s stock, valued at $42,970,017,774.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CMO Venkata R. Madabhushi sold 4,685 shares of Mastercard stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $489.86, for a total transaction of $2,294,994.10. Following the transaction, the chief marketing officer now directly owns 15,031 shares of the company’s stock, valued at approximately $7,363,085.66. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 327,370 shares of company stock valued at $153,495,958 in the last quarter. Insiders own 0.10% of the company’s stock.

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.