ProVise Management Group LLC Sells 51 Shares of Mastercard Incorporated (NYSE:MA)

ProVise Management Group LLC lowered its holdings in shares of Mastercard Incorporated (NYSE:MA) by 0.8% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,193 shares of the credit services provider’s stock after selling 51 shares during the period. ProVise Management Group LLC’s holdings in Mastercard were worth $2,732,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. VitalStone Financial LLC grew its stake in shares of Mastercard by 300.0% during the fourth quarter. VitalStone Financial LLC now owns 60 shares of the credit services provider’s stock worth $26,000 after buying an additional 45 shares during the last quarter. Westend Capital Management LLC bought a new stake in Mastercard during the 1st quarter worth $27,000. Palisade Asset Management LLC acquired a new position in Mastercard in the 1st quarter worth about $27,000. Scarborough Advisors LLC bought a new position in Mastercard in the fourth quarter valued at about $28,000. Finally, Beaird Harris Wealth Management LLC acquired a new stake in shares of Mastercard during the fourth quarter valued at about $30,000. 97.28% of the stock is currently owned by institutional investors.

Mastercard Price Performance

MA stock opened at $493.01 on Friday. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.14 and a quick ratio of 1.14. The company’s 50-day moving average is $465.19 and its 200-day moving average is $460.98. The stock has a market capitalization of $458.31 billion, a PE ratio of 39.19, a price-to-earnings-growth ratio of 1.92 and a beta of 1.10. Mastercard Incorporated has a 1 year low of $359.77 and a 1 year high of $501.80.

Mastercard (NYSE:MA) last announced its quarterly earnings results on Wednesday, July 31st. The credit services provider reported $3.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $0.08. Mastercard had a return on equity of 179.78% and a net margin of 46.45%. The business had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.85 billion. Equities research analysts expect that Mastercard Incorporated will post 14.29 EPS for the current fiscal year.

Mastercard Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Wednesday, October 9th will be given a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend is Wednesday, October 9th. Mastercard’s payout ratio is currently 20.99%.

Insider Buying and Selling at Mastercard

In other news, major shareholder Foundation Mastercard sold 138,000 shares of Mastercard stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $453.19, for a total transaction of $62,540,220.00. Following the completion of the transaction, the insider now directly owns 92,152,308 shares in the company, valued at $41,762,504,462.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CMO Venkata R. Madabhushi sold 4,685 shares of the company’s 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 completion of the sale, the chief marketing officer now owns 17,118 shares in the company, valued at $8,440,885.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Foundation Mastercard sold 138,000 shares of the firm’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $453.19, for a total value of $62,540,220.00. Following the transaction, the insider now owns 92,152,308 shares in the company, valued at $41,762,504,462.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 605,124 shares of company stock worth $280,045,189. 0.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

MA has been the subject of several recent research reports. Barclays upped their price objective on Mastercard from $530.00 to $536.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Piper Sandler raised their price target on shares of Mastercard from $531.00 to $536.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Susquehanna boosted their price objective on shares of Mastercard from $535.00 to $540.00 and gave the stock a “positive” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. raised their target price on Mastercard from $500.00 to $570.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Finally, Bank of America lifted their target price on Mastercard from $480.00 to $509.00 and gave the stock a “neutral” rating in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $512.08.

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.