Aprio Wealth Management LLC lessened its holdings in shares of Mastercard Incorporated (NYSE:MA) by 7.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,110 shares of the credit services provider’s stock after selling 86 shares during the period. Aprio Wealth Management LLC’s holdings in Mastercard were worth $375,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Larson Financial Group LLC lifted its position in shares of Mastercard by 55.2% during the third quarter. Larson Financial Group LLC now owns 104 shares of the credit services provider’s stock worth $35,000 after purchasing an additional 37 shares during the last quarter. Pacific Center for Financial Services increased its stake in Mastercard by 582.4% in the 1st quarter. Pacific Center for Financial Services now owns 116 shares of the credit services provider’s stock worth $28,000 after buying an additional 99 shares during the period. Evolution Wealth Advisors LLC lifted its holdings in Mastercard by 530.4% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 145 shares of the credit services provider’s stock valued at $43,000 after buying an additional 122 shares in the last quarter. Virtus Alternative Investment Advisers Inc. bought a new stake in Mastercard during the 2nd quarter valued at about $46,000. Finally, Watson Rebecca purchased a new stake in Mastercard in the 2nd quarter valued at about $50,000. 73.72% of the stock is currently owned by hedge funds and other institutional investors.
MA has been the subject of several research analyst reports. Jefferies Financial Group lifted their price target on shares of Mastercard from $305.00 to $330.00 and gave the company a “hold” rating in a research note on Friday, October 2nd. Daiwa Capital Markets reaffirmed a “neutral” rating and set a $314.00 target price on shares of Mastercard in a research report on Tuesday, July 21st. Mizuho assumed coverage on Mastercard in a research report on Wednesday, August 26th. They set a “buy” rating and a $400.00 price target on the stock. Oppenheimer started coverage on Mastercard in a report on Friday, July 31st. They issued a “hold” rating for the company. Finally, Compass Point increased their target price on shares of Mastercard from $330.00 to $370.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Five research analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $347.81.
Mastercard (NYSE:MA) last announced its quarterly earnings data on Thursday, July 30th. The credit services provider reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.21. The firm had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.26 billion. Mastercard had a net margin of 45.12% and a return on equity of 129.52%. The business’s quarterly revenue was down 19.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.89 earnings per share. As a group, analysts expect that Mastercard Incorporated will post 6.62 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Friday, October 9th will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, October 8th. This represents a $1.60 annualized dividend and a yield of 0.47%. Mastercard’s payout ratio is presently 20.59%.
In other news, major shareholder Foundation Mastercard sold 68,670 shares of the stock in a transaction on Monday, July 20th. The shares were sold at an average price of $308.54, for a total value of $21,187,441.80. Following the sale, the insider now owns 109,933,814 shares in the company, valued at $33,918,978,971.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ajay Banga sold 61,067 shares of the firm’s stock in a transaction on Thursday, July 23rd. The stock was sold at an average price of $315.89, for a total transaction of $19,290,454.63. Following the transaction, the chief executive officer now directly owns 384,371 shares of the company’s stock, valued at approximately $121,418,955.19. The disclosure for this sale can be found here. Insiders sold 263,465 shares of company stock worth $83,297,010 over the last three months. Corporate insiders own 3.79% 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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