Mastercard Incorporated (NYSE:MA) Shares Sold by Drive Wealth Management LLC

Drive Wealth Management LLC trimmed its position in Mastercard Incorporated (NYSE:MA) by 1.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,531 shares of the credit services provider’s stock after selling 38 shares during the period. Drive Wealth Management LLC’s holdings in Mastercard were worth $1,249,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC acquired a new position in shares of Mastercard in the third quarter valued at about $25,000. Strategic Investment Solutions Inc. IL purchased a new stake in Mastercard in the second quarter valued at approximately $34,000. Fairway Wealth LLC acquired a new position in Mastercard in the 2nd quarter worth approximately $35,000. First Personal Financial Services purchased a new position in Mastercard during the 3rd quarter worth approximately $39,000. Finally, Lowe Wealth Advisors LLC lifted its stake in Mastercard by 74.0% during the 3rd quarter. Lowe Wealth Advisors LLC now owns 87 shares of the credit services provider’s stock valued at $43,000 after acquiring an additional 37 shares during the period. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Mastercard Trading Up 0.3 %

MA opened at $521.89 on Monday. 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 company’s 50 day simple moving average is $504.09 and its two-hundred day simple moving average is $471.38. The firm has a market capitalization of $479.01 billion, a price-to-earnings ratio of 39.48, a price-to-earnings-growth ratio of 2.28 and a beta of 1.10. Mastercard Incorporated has a 1-year low of $395.55 and a 1-year high of $534.03.

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

Mastercard Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Wednesday, October 9th were issued 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 0.51%. Mastercard’s payout ratio is 19.97%.

Insider Transactions at Mastercard

In related news, major shareholder Foundation Mastercard sold 90,000 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $468.80, for a total transaction of $42,192,000.00. Following the completion of the sale, the insider now directly owns 91,649,308 shares of the company’s stock, valued at approximately $42,965,195,590.40. This trade represents a 0.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Venkata R. Madabhushi sold 4,685 shares of the company’s 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 completion of the transaction, the chief marketing officer now directly owns 15,031 shares in the company, valued at $7,363,085.66. The trade was a 23.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 99,370 shares of company stock worth $46,797,168 in the last 90 days. Insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MA shares. Robert W. Baird boosted their target price on shares of Mastercard from $545.00 to $575.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Piper Sandler reissued an “overweight” rating and issued a $575.00 price objective (up previously from $565.00) on shares of Mastercard in a report on Friday. KeyCorp raised their target price on Mastercard from $515.00 to $580.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft upped their price objective on Mastercard from $510.00 to $580.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, BMO Capital Markets lifted their target price on shares of Mastercard from $550.00 to $565.00 and gave the company an “outperform” rating in a report on Thursday. Four analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $549.16.

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.