Zweig DiMenna Associates LLC Purchases 11,850 Shares of Mastercard Incorporated (NYSE:MA)

Zweig DiMenna Associates LLC raised its position in Mastercard Incorporated (NYSE:MA) by 118.5% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 21,850 shares of the credit services provider’s stock after acquiring an additional 11,850 shares during the period. Zweig DiMenna Associates LLC’s holdings in Mastercard were worth $10,790,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Woodard & Co. Asset Management Group Inc. ADV increased its position in shares of Mastercard by 6.5% during the third quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 7,402 shares of the credit services provider’s stock worth $3,655,000 after acquiring an additional 452 shares in the last quarter. DT Investment Partners LLC boosted its stake in Mastercard by 5.6% during the 3rd quarter. DT Investment Partners LLC now owns 1,760 shares of the credit services provider’s stock valued at $869,000 after purchasing an additional 93 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Mastercard by 112.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 629,204 shares of the credit services provider’s stock valued at $310,701,000 after purchasing an additional 332,473 shares during the last quarter. Bogart Wealth LLC increased its holdings in Mastercard by 1.5% during the 3rd quarter. Bogart Wealth LLC now owns 18,546 shares of the credit services provider’s stock worth $9,158,000 after purchasing an additional 275 shares in the last quarter. Finally, Yoder Wealth Management Inc. raised its stake in shares of Mastercard by 4.8% in the third quarter. Yoder Wealth Management Inc. now owns 502 shares of the credit services provider’s stock worth $248,000 after purchasing an additional 23 shares during the last quarter. Institutional investors own 97.28% of the company’s stock.

Analyst Upgrades and Downgrades

MA has been the topic of several analyst reports. Oppenheimer assumed coverage on Mastercard in a research report on Tuesday, October 1st. They set an “outperform” rating and a $591.00 target price on the stock. KeyCorp lifted their price objective on shares of Mastercard from $490.00 to $515.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Barclays increased their target price on shares of Mastercard from $536.00 to $576.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Compass Point started coverage on shares of Mastercard in a report on Wednesday, September 4th. They set a “neutral” rating and a $525.00 price target on the stock. Finally, Robert W. Baird increased their price objective on shares of Mastercard from $545.00 to $575.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $525.68.

Insiders Place Their Bets

In related news, CMO Venkata R. Madabhushi sold 4,685 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $489.86, for a total transaction of $2,294,994.10. Following the sale, the chief marketing officer now directly owns 15,031 shares in the company, valued at approximately $7,363,085.66. 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 this hyperlink. In other Mastercard news, major shareholder Foundation Mastercard sold 119,000 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CMO Venkata R. Madabhushi sold 4,685 shares of the business’s stock in a transaction on 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 owns 15,031 shares of the company’s stock, valued at $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 340,809 shares of company stock worth $159,610,703 over the last 90 days. Corporate insiders own 0.10% of the company’s stock.

Mastercard Trading Down 0.6 %

Shares of Mastercard stock opened at $510.48 on Friday. The stock has a market capitalization of $474.55 billion, a P/E ratio of 40.58, a P/E/G ratio of 2.22 and a beta of 1.10. Mastercard Incorporated has a 52-week low of $359.77 and a 52-week high of $518.82. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.14 and a current ratio of 1.14. The stock’s 50-day simple moving average is $490.23 and its 200 day simple moving average is $464.93.

Mastercard (NYSE:MA) last posted its earnings results on Wednesday, July 31st. The credit services provider reported $3.59 earnings per share for the quarter, topping the consensus estimate of $3.51 by $0.08. The firm had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.85 billion. Mastercard had a net margin of 46.45% and a return on equity of 179.78%. As a group, research analysts anticipate that Mastercard Incorporated will post 14.3 EPS for the current year.

Mastercard Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Wednesday, October 9th will be issued a dividend of $0.66 per share. The ex-dividend date is Wednesday, October 9th. This represents a $2.64 dividend on an annualized basis and a yield of 0.52%. Mastercard’s payout ratio is 20.99%.

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.