Legacy Capital Group California Inc. Has $583,000 Position in Mastercard Incorporated (NYSE:MA)

Legacy Capital Group California Inc. cut its holdings in Mastercard Incorporated (NYSE:MA) by 63.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,180 shares of the credit services provider’s stock after selling 2,079 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Mastercard were worth $583,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Palisade Asset Management LLC bought a new position in shares of Mastercard during the first quarter worth about $27,000. Strategic Investment Solutions Inc. IL acquired a new position in Mastercard during the second quarter worth $34,000. Fairway Wealth LLC bought a new position in Mastercard in the second quarter valued at $35,000. Lowe Wealth Advisors LLC increased its stake in Mastercard by 74.0% in the 3rd quarter. Lowe Wealth Advisors LLC now owns 87 shares of the credit services provider’s stock valued at $43,000 after buying an additional 37 shares during the last quarter. Finally, Valued Wealth Advisors LLC lifted its position in Mastercard by 168.6% during the 1st quarter. Valued Wealth Advisors LLC now owns 94 shares of the credit services provider’s stock worth $45,000 after buying an additional 59 shares in the last quarter. 97.28% of the stock is owned by institutional investors.

Insider Transactions at Mastercard

In other Mastercard news, CMO Venkata R. Madabhushi sold 4,685 shares of Mastercard stock in a transaction on Friday, September 13th. The shares were sold at an average price of $493.10, for a total value of $2,310,173.50. Following the completion of the sale, the chief marketing officer now directly owns 17,118 shares of the company’s stock, valued at approximately $8,440,885.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO J. Mehra Sachin sold 13,439 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $455.00, for a total value of $6,114,745.00. Following the transaction, the chief financial officer now owns 27,304 shares in the company, valued at $12,423,320. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Venkata R. Madabhushi sold 4,685 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $493.10, for a total value of $2,310,173.50. Following the sale, the chief marketing officer now directly owns 17,118 shares of the company’s stock, valued at $8,440,885.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 340,809 shares of company stock valued at $159,610,703 in the last quarter. 0.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently issued reports on MA shares. Oppenheimer initiated coverage on Mastercard in a report on Tuesday, October 1st. They set an “outperform” rating and a $591.00 target price on the stock. Barclays upped their price objective on Mastercard from $536.00 to $576.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. BMO Capital Markets reiterated an “outperform” rating and set a $520.00 target price on shares of Mastercard in a research note on Wednesday, August 14th. Bank of America increased their price target on Mastercard from $480.00 to $509.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Finally, William Blair raised shares of Mastercard to a “strong-buy” rating in a research report on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $525.68.

Mastercard Stock Down 0.6 %

Shares of MA opened at $510.48 on Friday. The company has a market capitalization of $474.55 billion, a PE ratio of 40.58, a PEG ratio of 2.22 and a beta of 1.10. The stock’s 50-day moving average price is $490.23 and its two-hundred day moving average price is $464.93. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.95. Mastercard Incorporated has a 12 month low of $359.77 and a 12 month high of $518.82.

Mastercard (NYSE:MA) last released its earnings results on Wednesday, July 31st. The credit services provider reported $3.59 earnings per share for the quarter, beating analysts’ consensus estimates of $3.51 by $0.08. The business 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%. On average, 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. Investors of record on Wednesday, October 9th will be paid a dividend of $0.66 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $2.64 annualized dividend and a yield of 0.52%. Mastercard’s dividend payout ratio is currently 20.99%.

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.