Envestnet Asset Management Inc. Buys 33,859 Shares of Mastercard Inc (NYSE:MA)

Envestnet Asset Management Inc. boosted its stake in shares of Mastercard Inc (NYSE:MA) by 4.7% during the second quarter, Holdings Channel reports. The firm owned 760,355 shares of the credit services provider’s stock after purchasing an additional 33,859 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Mastercard were worth $201,137,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Claro Advisors LLC raised its position in Mastercard by 4.1% in the second quarter. Claro Advisors LLC now owns 934 shares of the credit services provider’s stock worth $247,000 after acquiring an additional 37 shares during the period. Quadrant Capital Group LLC raised its position in Mastercard by 0.3% in the second quarter. Quadrant Capital Group LLC now owns 15,147 shares of the credit services provider’s stock worth $3,989,000 after acquiring an additional 38 shares during the period. First Personal Financial Services raised its position in Mastercard by 4.8% in the second quarter. First Personal Financial Services now owns 832 shares of the credit services provider’s stock worth $220,000 after acquiring an additional 38 shares during the period. Claraphi Advisory Network LLC raised its position in Mastercard by 1.1% in the second quarter. Claraphi Advisory Network LLC now owns 3,669 shares of the credit services provider’s stock worth $970,000 after acquiring an additional 40 shares during the period. Finally, Elefante Mark B raised its position in Mastercard by 0.9% in the second quarter. Elefante Mark B now owns 4,582 shares of the credit services provider’s stock worth $1,212,000 after acquiring an additional 42 shares during the period. Institutional investors own 74.25% of the company’s stock.

Several research analysts have weighed in on MA shares. Zacks Investment Research upgraded shares of Mastercard from a “hold” rating to a “buy” rating and set a $275.00 price target on the stock in a research report on Wednesday, May 15th. Wells Fargo & Co increased their price target 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. KeyCorp increased their price objective on shares of Mastercard from $230.00 to $265.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. Morgan Stanley increased their price objective on shares of Mastercard from $269.00 to $291.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Finally, Nomura increased their price objective on shares of Mastercard from $282.00 to $324.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $291.80.

In related news, insider Michael Miebach sold 2,233 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $283.12, for a total transaction of $632,206.96. Following the completion of the transaction, the insider now directly owns 15,548 shares of the company’s stock, valued at $4,401,949.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David R. Carlucci sold 3,974 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $262.51, for a total transaction of $1,043,214.74. Following the transaction, the director now directly owns 54,438 shares of the company’s stock, valued at $14,290,519.38. The disclosure for this sale can be found here. Insiders have sold 201,511 shares of company stock valued at $54,471,508 over the last ninety days. 3.70% of the stock is currently owned by corporate insiders.

MA traded up $4.48 during trading on Thursday, hitting $271.63. 2,513,456 shares of the company traded hands, compared to its average volume of 3,683,371. The company has a market cap of $273.92 billion, a P/E ratio of 41.85, a PEG ratio of 2.14 and a beta of 1.08. The stock has a 50-day moving average price of $273.39. Mastercard Inc has a 1 year low of $171.89 and a 1 year high of $283.33. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.49 and a current ratio of 1.49.

Mastercard (NYSE:MA) last posted its earnings results on Tuesday, July 30th. The credit services provider reported $1.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.82 by $0.07. The company had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Mastercard had a net margin of 42.71% and a return on equity of 135.02%. Mastercard’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period last year, the company posted $1.66 earnings per share. Analysts anticipate that Mastercard Inc will post 7.61 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Tuesday, July 9th were paid a dividend of $0.33 per share. The ex-dividend date was Monday, July 8th. This represents a $1.32 annualized dividend and a yield of 0.49%. Mastercard’s payout ratio is 20.34%.

About Mastercard

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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Institutional Ownership by Quarter for Mastercard (NYSE:MA)

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