Sanders Morris Harris LLC increased its holdings in shares of Mastercard Incorporated (NYSE:MA) by 107.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,757 shares of the credit services provider’s stock after acquiring an additional 1,943 shares during the quarter. Sanders Morris Harris LLC’s holdings in Mastercard were worth $1,289,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Larson Financial Group LLC increased its position in 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 acquiring an additional 37 shares during the period. Evolution Wealth Advisors LLC increased its position in Mastercard by 530.4% during the second quarter. Evolution Wealth Advisors LLC now owns 145 shares of the credit services provider’s stock worth $43,000 after acquiring an additional 122 shares during the period. Virtus Alternative Investment Advisers Inc. bought a new position in Mastercard during the second quarter worth about $46,000. Watson Rebecca bought a new position in Mastercard during the second quarter worth about $50,000. Finally, Provident Wealth Management LLC bought a new position in Mastercard in the 3rd quarter valued at about $57,000. 73.72% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have commented on MA. Oppenheimer began coverage on shares of Mastercard in a report on Friday, July 31st. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Mastercard from $320.00 to $383.00 and gave the company a “buy” rating in a report on Tuesday, September 15th. Raymond James raised their target price on shares of Mastercard from $301.00 to $351.00 and gave the company an “outperform” rating in a report on Friday, July 31st. 140166 raised their target price on shares of Mastercard from $360.00 to $395.00 and gave the company a “positive” rating in a report on Thursday, September 10th. Finally, Jefferies Financial Group raised their target price on shares of Mastercard from $305.00 to $330.00 and gave the company a “hold” rating in a report on Friday, October 2nd. Five analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $347.81.
Mastercard (NYSE:MA) last issued its quarterly earnings results on Thursday, July 30th. The credit services provider reported $1.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.21. The firm had revenue of $3.30 billion for 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 company’s revenue for the quarter was down 19.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.89 EPS. Equities analysts forecast that Mastercard Incorporated will post 6.62 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Stockholders of record on Friday, October 9th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, October 8th. This represents a $1.60 annualized dividend and a dividend yield of 0.47%. Mastercard’s dividend payout ratio is currently 20.59%.
In other news, insider Michael Fraccaro sold 3,458 shares of Mastercard stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $350.00, for a total value of $1,210,300.00. Following the completion of the sale, the insider now owns 5,147 shares in the company, valued at approximately $1,801,450. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Foundation Mastercard sold 68,670 shares of Mastercard stock in a transaction on Monday, July 20th. The shares were sold at an average price of $308.54, for a total transaction of $21,187,441.80. Following the completion of the sale, the insider now owns 109,933,814 shares of the company’s stock, valued at approximately $33,918,978,971.56. The disclosure for this sale can be found here. Insiders sold a total of 263,465 shares of company stock valued at $83,297,010 in the last quarter. 3.79% of the stock is currently owned by company insiders.
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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