Onyx Bridge Wealth Group LLC Decreases Holdings in Mastercard Incorporated (NYSE:MA)

Onyx Bridge Wealth Group LLC reduced its stake in shares of Mastercard Incorporated (NYSE:MA) by 7.4% in the third quarter, Holdings Channel reports. The fund owned 2,935 shares of the credit services provider’s stock after selling 236 shares during the quarter. Onyx Bridge Wealth Group LLC’s holdings in Mastercard were worth $1,449,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. McLean Asset Management Corp grew its holdings in Mastercard by 1.3% during the third quarter. McLean Asset Management Corp now owns 1,677 shares of the credit services provider’s stock valued at $834,000 after purchasing an additional 21 shares during the period. Hoxton Planning & Management LLC boosted its stake in shares of Mastercard by 1.4% in the first quarter. Hoxton Planning & Management LLC now owns 1,637 shares of the credit services provider’s stock worth $788,000 after acquiring an additional 22 shares during the period. Quilter Plc boosted its stake in shares of Mastercard by 2.8% in the second quarter. Quilter Plc now owns 801 shares of the credit services provider’s stock worth $353,000 after acquiring an additional 22 shares during the period. Cornerstone Wealth Management LLC boosted its stake in shares of Mastercard by 0.5% in the third quarter. Cornerstone Wealth Management LLC now owns 4,351 shares of the credit services provider’s stock worth $2,148,000 after acquiring an additional 22 shares during the period. Finally, Benin Management CORP boosted its stake in shares of Mastercard by 3.0% in the first quarter. Benin Management CORP now owns 794 shares of the credit services provider’s stock worth $382,000 after acquiring an additional 23 shares during the period. 97.28% of the stock is owned by institutional investors.

Mastercard Stock Performance

Shares of MA stock opened at $513.91 on Friday. The firm has a market capitalization of $477.74 billion, a price-to-earnings ratio of 40.85, a price-to-earnings-growth ratio of 2.22 and a beta of 1.10. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.14 and a quick ratio of 1.14. The business has a fifty day moving average of $485.71 and a 200 day moving average of $463.95. Mastercard Incorporated has a 1 year low of $359.77 and a 1 year high of $517.04.

Mastercard (NYSE:MA) last released its quarterly earnings data on Wednesday, July 31st. The credit services provider reported $3.59 earnings per share for the quarter, beating analysts’ consensus estimates of $3.51 by $0.08. The business had revenue of $6.96 billion during the quarter, compared to analyst estimates of $6.85 billion. Mastercard had a return on equity of 179.78% and a net margin of 46.45%. As a group, research analysts expect that Mastercard Incorporated will post 14.3 earnings per share for the current year.

Mastercard Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Wednesday, October 9th will be paid a dividend of $0.66 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.51%. Mastercard’s payout ratio is currently 20.99%.

Insider Activity

In other news, CMO Venkata R. Madabhushi sold 4,685 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $489.86, for a total transaction of $2,294,994.10. Following the sale, the chief marketing officer now directly owns 15,031 shares in the company, valued at $7,363,085.66. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Mastercard news, CMO Venkata R. Madabhushi sold 4,685 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $489.86, for a total value of $2,294,994.10. Following the transaction, the chief marketing officer now directly owns 15,031 shares of the company’s stock, valued at $7,363,085.66. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Foundation Mastercard sold 90,000 shares of Mastercard stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $468.80, for a total transaction of $42,192,000.00. Following the sale, the insider now directly owns 91,649,308 shares in the company, valued at approximately $42,965,195,590.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 340,809 shares of company stock worth $159,610,703 in the last ninety days. Company insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Evercore ISI dropped their price objective on Mastercard from $540.00 to $525.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. JPMorgan Chase & Co. boosted their target price on Mastercard from $500.00 to $570.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Piper Sandler boosted their target price on Mastercard from $531.00 to $536.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. TD Cowen boosted their target price on Mastercard from $532.00 to $533.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Compass Point began coverage on Mastercard in a research report on Wednesday, September 4th. They issued a “neutral” rating and a $525.00 target price on the stock. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Mastercard currently has a consensus rating of “Moderate Buy” and a consensus price target of $524.64.

Mastercard Company Profile

Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. The company offers integrated products and value-added services for account holders, merchants, financial institutions, digital partners, businesses, governments, and other organizations, such as programs that enable issuers to provide consumers with credits to defer payments; payment products and solutions that allow its customers to access funds in deposit and other accounts; prepaid programs services; and commercial credit, debit, and prepaid payment products and solutions.