King Wealth Management Group Buys 244 Shares of Mastercard Incorporated $MA

King Wealth Management Group lifted its stake in shares of Mastercard Incorporated (NYSE:MA) by 1.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,058 shares of the credit services provider’s stock after purchasing an additional 244 shares during the period. Mastercard accounts for 1.3% of King Wealth Management Group’s investment portfolio, making the stock its 21st biggest holding. King Wealth Management Group’s holdings in Mastercard were worth $9,585,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Brighton Jones LLC lifted its position in shares of Mastercard by 42.3% during the 4th quarter. Brighton Jones LLC now owns 6,824 shares of the credit services provider’s stock valued at $3,594,000 after buying an additional 2,028 shares during the last quarter. Allen Capital Group LLC raised its stake in Mastercard by 14.0% in the 1st quarter. Allen Capital Group LLC now owns 1,238 shares of the credit services provider’s stock valued at $679,000 after acquiring an additional 152 shares during the period. Napatree Capital LLC purchased a new stake in Mastercard during the first quarter valued at about $249,000. Ascent Wealth Partners LLC boosted its position in Mastercard by 6.3% during the first quarter. Ascent Wealth Partners LLC now owns 11,272 shares of the credit services provider’s stock worth $6,178,000 after purchasing an additional 670 shares during the period. Finally, Graypoint LLC increased its stake in shares of Mastercard by 1.0% in the first quarter. Graypoint LLC now owns 15,771 shares of the credit services provider’s stock worth $8,644,000 after purchasing an additional 160 shares in the last quarter. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Insider Activity at Mastercard

In related news, CFO J. Mehra Sachin sold 17,263 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $591.00, for a total value of $10,202,433.00. Following the sale, the chief financial officer owned 31,234 shares in the company, valued at $18,459,294. This represents a 35.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

MA has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Mastercard in a research note on Thursday, July 17th. They issued a “buy” rating and a $650.00 target price on the stock. Macquarie upped their price objective on Mastercard from $655.00 to $660.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Tigress Financial boosted their price target on Mastercard from $685.00 to $730.00 and gave the company a “strong-buy” rating in a report on Thursday, November 6th. Robert W. Baird increased their price objective on Mastercard from $640.00 to $660.00 and gave the stock an “outperform” rating in a report on Monday, October 6th. Finally, Citigroup upgraded Mastercard to a “strong-buy” rating in a research report on Thursday, October 23rd. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $652.50.

Mastercard Stock Down 1.1%

MA stock opened at $555.11 on Friday. Mastercard Incorporated has a fifty-two week low of $465.59 and a fifty-two week high of $601.77. The company has a market capitalization of $498.49 billion, a price-to-earnings ratio of 37.43, a price-to-earnings-growth ratio of 2.27 and a beta of 0.92. The business’s 50 day moving average price is $569.27 and its two-hundred day moving average price is $569.64. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.16 and a current ratio of 1.16.

Mastercard (NYSE:MA) last posted its quarterly earnings data on Thursday, October 30th. The credit services provider reported $4.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.31 by $0.07. Mastercard had a return on equity of 200.01% and a net margin of 44.93%.The business had revenue of $8.60 billion during the quarter, compared to the consensus estimate of $8.53 billion. During the same quarter in the prior year, the company earned $3.89 earnings per share. The firm’s quarterly revenue was up 16.7% compared to the same quarter last year. As a group, analysts forecast that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Thursday, October 9th were issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Thursday, October 9th. Mastercard’s dividend payout ratio (DPR) is presently 19.44%.

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.