Carnick & Kubik Group LLC lifted its stake in Mastercard Inc (NYSE:MA) by 57.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,763 shares of the credit services provider’s stock after acquiring an additional 5,730 shares during the period. Carnick & Kubik Group LLC’s holdings in Mastercard were worth $4,281,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Hollencrest Capital Management bought a new stake in Mastercard during the third quarter valued at $484,000. Fiduciary Financial Services of The Southwest Inc. TX boosted its stake in Mastercard by 0.8% during the third quarter. Fiduciary Financial Services of The Southwest Inc. TX now owns 22,527 shares of the credit services provider’s stock valued at $6,118,000 after buying an additional 177 shares during the period. Rhumbline Advisers boosted its stake in Mastercard by 2.0% during the third quarter. Rhumbline Advisers now owns 1,641,303 shares of the credit services provider’s stock valued at $445,729,000 after buying an additional 31,580 shares during the period. AdvisorNet Financial Inc boosted its stake in Mastercard by 8.0% during the third quarter. AdvisorNet Financial Inc now owns 4,154 shares of the credit services provider’s stock valued at $1,128,000 after buying an additional 308 shares during the period. Finally, FormulaFolio Investments LLC boosted its stake in Mastercard by 12.0% during the third quarter. FormulaFolio Investments LLC now owns 1,782 shares of the credit services provider’s stock valued at $484,000 after buying an additional 191 shares during the period. 74.28% of the stock is owned by hedge funds and other institutional investors.
Several research firms recently issued reports on MA. Nomura lifted their price objective on Mastercard from $282.00 to $324.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Barclays lifted their price objective on Mastercard from $310.00 to $319.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Tigress Financial reissued a “buy” rating on shares of Mastercard in a research note on Thursday, August 22nd. ValuEngine lowered Mastercard from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada set a $315.00 price objective on Mastercard and gave the company a “buy” rating in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $299.09.
Mastercard (NYSE:MA) last released its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.82 by $0.07. Mastercard had a return on equity of 135.02% and a net margin of 42.71%. The business had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter last year, the business posted $1.66 earnings per share. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. On average, equities analysts expect that Mastercard Inc will post 7.61 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th will be issued a $0.33 dividend. The ex-dividend date is Tuesday, October 8th. This represents a $1.32 annualized dividend and a dividend yield of 0.49%. Mastercard’s dividend payout ratio is currently 20.34%.
In other news, major shareholder Foundation Mastercard sold 23,850 shares of Mastercard stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $279.47, for a total value of $6,665,359.50. Following the transaction, the insider now 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 can be accessed through this link. Also, insider Michael Miebach sold 2,233 shares of Mastercard stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $283.12, for a total value of $632,206.96. Following the completion of the transaction, the insider now owns 15,548 shares in the company, valued at approximately $4,401,949.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 123,019 shares of company stock worth $33,728,660. Company insiders own 3.70% of the company’s stock.
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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