Parisi Gray Wealth Management grew its position in Mastercard Inc (NYSE:MA) by 0.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 15,082 shares of the credit services provider’s stock after purchasing an additional 133 shares during the period. Mastercard accounts for about 2.7% of Parisi Gray Wealth Management’s portfolio, making the stock its 7th biggest position. Parisi Gray Wealth Management’s holdings in Mastercard were worth $4,096,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Joseph P. Lucia & Associates LLC acquired a new stake in shares of Mastercard during the second quarter worth $26,000. Ellevest Inc. lifted its stake in shares of Mastercard by 52.8% during the second quarter. Ellevest Inc. now owns 110 shares of the credit services provider’s stock worth $29,000 after buying an additional 38 shares during the period. Delphi Private Advisors LLC acquired a new stake in shares of Mastercard during the second quarter worth $31,000. Evolution Wealth Advisors LLC acquired a new stake in shares of Mastercard during the second quarter worth $31,000. Finally, Princeton Global Asset Management LLC acquired a new stake in shares of Mastercard during the second quarter worth $33,000. 74.30% of the stock is currently owned by institutional investors and hedge funds.
In other Mastercard news, major shareholder Foundation Mastercard sold 15,890 shares of Mastercard stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $272.06, for a total value of $4,323,033.40. Following the completion of the transaction, the insider now owns 112,030,712 shares of the company’s stock, valued at $30,479,075,506.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Miebach sold 2,770 shares of Mastercard stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $285.00, for a total transaction of $789,450.00. Following the completion of the transaction, the insider now directly owns 12,778 shares of the company’s stock, valued at approximately $3,641,730. The disclosure for this sale can be found here. Insiders have sold 140,143 shares of company stock valued at $38,535,340 over the last 90 days. 3.70% of the stock is currently owned by insiders.
Mastercard (NYSE:MA) last posted its earnings results on Tuesday, July 30th. The credit services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.07. The company had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.08 billion. Mastercard had a net margin of 42.71% and a return on equity of 135.02%. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.66 earnings per share. As a group, equities research analysts anticipate that Mastercard Inc will post 7.61 EPS for the current fiscal year.
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 given a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, October 8th. This represents a $1.32 dividend on an annualized basis and a yield of 0.48%. Mastercard’s dividend payout ratio is presently 20.34%.
MA has been the subject of several research reports. Credit Suisse Group set a $292.00 price objective on shares of Mastercard and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Raymond James lifted their price objective on shares of Mastercard from $300.00 to $308.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Morgan Stanley lifted their price objective on shares of Mastercard from $291.00 to $315.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Susquehanna Bancshares lifted their price objective on shares of Mastercard from $293.00 to $320.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, SunTrust Banks lifted their price objective on shares of Mastercard from $310.00 to $325.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Three research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $299.09.
Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers related products and services.
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