Evanson Asset Management LLC raised its holdings in shares of Mastercard Inc (NYSE:MA) by 9.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,400 shares of the credit services provider’s stock after acquiring an additional 211 shares during the quarter. Evanson Asset Management LLC’s holdings in Mastercard were worth $652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of MA. Joseph P. Lucia & Associates LLC bought a new position in shares of Mastercard in the second quarter worth $26,000. Ellevest Inc. grew its position in Mastercard by 52.8% in the second quarter. Ellevest Inc. now owns 110 shares of the credit services provider’s stock worth $29,000 after acquiring an additional 38 shares in the last quarter. Evolution Wealth Advisors LLC purchased a new position in Mastercard in the second quarter worth $31,000. Delphi Private Advisors LLC purchased a new position in Mastercard in the second quarter worth $31,000. Finally, Princeton Global Asset Management LLC purchased a new position in Mastercard in the second quarter worth $33,000. 74.30% of the stock is currently owned by institutional investors and hedge funds.
NYSE MA traded up $3.39 during trading on Friday, hitting $277.22. 225,372 shares of the company’s stock traded hands, compared to its average volume of 3,710,693. The stock has a fifty day moving average of $275.86 and a two-hundred day moving average of $262.23. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.49 and a quick ratio of 1.49. Mastercard Inc has a 12-month low of $171.89 and a 12-month high of $293.69. The firm has a market cap of $270.96 billion, a P/E ratio of 42.73, a PEG ratio of 2.21 and a beta of 1.06.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders 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 annualized dividend and a yield of 0.48%. Mastercard’s payout ratio is 20.34%.
Several brokerages recently issued reports on MA. William Blair reiterated an “outperform” rating on shares of Mastercard in a research report on Friday, September 13th. Raymond James upped their target price on shares of Mastercard from $300.00 to $308.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Wells Fargo & Co upped their target price on shares of Mastercard from $285.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 10th. Wedbush upped their target price on shares of Mastercard from $261.00 to $287.00 and gave the stock an “outperform” rating in a research report on Thursday, June 13th. Finally, Argus upped their target price on shares of Mastercard to $320.00 and gave the stock an “average” rating in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Mastercard presently has an average rating of “Buy” and an average target price of $299.09.
In other news, major shareholder Foundation Mastercard sold 23,850 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $279.47, for a total transaction of $6,665,359.50. Following the completion of the sale, the insider now directly owns 112,102,262 shares in the company, valued at $31,329,219,161.14. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael Miebach sold 2,770 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $285.00, for a total transaction of $789,450.00. Following the sale, the insider now owns 12,778 shares of the company’s stock, valued at $3,641,730. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 140,143 shares of company stock valued at $38,535,340. 3.70% of the stock is currently owned by company insiders.
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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