Polaris Wealth Advisory Group LLC lessened its position in Mastercard Incorporated (NYSE:MA) by 32.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 47,242 shares of the credit services provider’s stock after selling 23,028 shares during the quarter. Mastercard makes up about 1.5% of Polaris Wealth Advisory Group LLC’s holdings, making the stock its 24th biggest holding. Polaris Wealth Advisory Group LLC’s holdings in Mastercard were worth $16,216,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of MA. Hodges Capital Management Inc. acquired a new stake in shares of Mastercard in the third quarter worth $220,000. Vigilant Capital Management LLC boosted its position in Mastercard by 447.2% during the 3rd quarter. Vigilant Capital Management LLC now owns 1,264 shares of the credit services provider’s stock worth $427,000 after acquiring an additional 1,033 shares during the period. America First Investment Advisors LLC grew its stake in Mastercard by 1.9% during the 3rd quarter. America First Investment Advisors LLC now owns 32,792 shares of the credit services provider’s stock valued at $11,089,000 after acquiring an additional 621 shares in the last quarter. Evolution Wealth Advisors LLC grew its stake in Mastercard by 37.2% during the 3rd quarter. Evolution Wealth Advisors LLC now owns 199 shares of the credit services provider’s stock valued at $67,000 after acquiring an additional 54 shares in the last quarter. Finally, Diversified Trust Co increased its holdings in shares of Mastercard by 14.7% in the 3rd quarter. Diversified Trust Co now owns 22,372 shares of the credit services provider’s stock valued at $7,566,000 after purchasing an additional 2,866 shares during the period. Institutional investors and hedge funds own 73.72% of the company’s stock.
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 completion of the transaction, the insider now owns 109,933,814 shares in the company, valued at approximately $33,918,978,971.56. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Richard Haythornthwaite sold 6,583 shares of the firm’s stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $328.87, for a total transaction of $2,164,951.21. Following the transaction, the director now directly owns 27,432 shares of the company’s stock, valued at $9,021,561.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 263,465 shares of company stock valued at $83,297,010. Insiders own 3.79% of the company’s stock.
Mastercard (NYSE:MA) last issued its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $3.26 billion. Mastercard had a net margin of 45.12% and a return on equity of 129.52%. The business’s revenue was down 19.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.89 EPS. Equities research analysts anticipate 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. Investors 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 dividend payout ratio is 20.59%.
A number of research analysts recently commented on the stock. 140166 boosted their price objective on shares of Mastercard from $360.00 to $395.00 and gave the company a “positive” rating in a research report on Thursday, September 10th. Oppenheimer initiated coverage on shares of Mastercard in a report on Friday, July 31st. They set a “hold” rating on the stock. Compass Point increased their price objective on Mastercard from $330.00 to $370.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Bank of America boosted their target price on Mastercard from $324.00 to $358.00 and gave the company a “neutral” rating in a research note on Thursday, August 27th. Finally, Jefferies Financial Group raised their price target on Mastercard from $305.00 to $330.00 and gave the stock a “hold” rating in a research note on Friday, October 2nd. Five analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $347.81.
Mastercard Company Profile
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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