Grimes & Company Inc. Purchases 192 Shares of Mastercard Incorporated $MA

Grimes & Company Inc. boosted its position in shares of Mastercard Incorporated (NYSE:MA) by 1.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,889 shares of the credit services provider’s stock after purchasing an additional 192 shares during the period. Grimes & Company Inc.’s holdings in Mastercard were worth $6,681,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Accredited Investors Inc. lifted its position in shares of Mastercard by 2.6% during the first quarter. Accredited Investors Inc. now owns 718 shares of the credit services provider’s stock worth $394,000 after purchasing an additional 18 shares during the last quarter. Wealthstream Advisors Inc. increased its stake in Mastercard by 2.9% in the 1st quarter. Wealthstream Advisors Inc. now owns 632 shares of the credit services provider’s stock worth $347,000 after buying an additional 18 shares during the period. Phillips Wealth Planners LLC lifted its holdings in Mastercard by 1.8% during the 1st quarter. Phillips Wealth Planners LLC now owns 1,055 shares of the credit services provider’s stock valued at $538,000 after buying an additional 19 shares in the last quarter. Alta Wealth Advisors LLC boosted its position in Mastercard by 3.6% in the 1st quarter. Alta Wealth Advisors LLC now owns 540 shares of the credit services provider’s stock valued at $296,000 after buying an additional 19 shares during the period. Finally, May Hill Capital LLC grew its stake in Mastercard by 2.0% in the 1st quarter. May Hill Capital LLC now owns 986 shares of the credit services provider’s stock worth $540,000 after acquiring an additional 19 shares in the last quarter. Institutional investors own 97.28% of the company’s stock.

Mastercard Price Performance

Shares of MA stock opened at $581.08 on Monday. The stock’s 50-day moving average is $580.26 and its 200 day moving average is $562.03. Mastercard Incorporated has a 1-year low of $465.59 and a 1-year high of $601.77. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.16 and a quick ratio of 1.16. The company has a market cap of $525.30 billion, a P/E ratio of 39.18, a PEG ratio of 2.38 and a beta of 0.97.

Mastercard (NYSE:MA) last released its quarterly earnings results on Thursday, July 31st. The credit services provider reported $4.15 EPS for the quarter, beating the consensus estimate of $4.05 by $0.10. Mastercard had a net margin of 44.93% and a return on equity of 200.01%. The business had revenue of $8.13 billion during the quarter, compared to analyst estimates of $7.95 billion. During the same period in the prior year, the firm posted $3.50 earnings per share. The company’s quarterly revenue was up 16.8% on a year-over-year basis. Research analysts predict that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Thursday, October 9th will be given a dividend of $0.76 per share. The ex-dividend date of this dividend is Thursday, October 9th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.5%. Mastercard’s dividend payout ratio is presently 20.50%.

Insider Activity at Mastercard

In other news, CFO J. Mehra Sachin sold 17,263 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $591.00, for a total transaction of $10,202,433.00. Following the completion of the sale, the chief financial officer owned 31,234 shares in the company, valued at approximately $18,459,294. This represents a 35.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MA. TD Cowen reaffirmed a “buy” rating and set a $645.00 price target on shares of Mastercard in a research note on Monday, August 11th. The Goldman Sachs Group reiterated a “buy” rating on shares of Mastercard in a report on Friday, August 1st. Truist Financial dropped their price target on Mastercard from $640.00 to $612.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. Wolfe Research set a $655.00 price objective on Mastercard in a report on Monday, June 23rd. Finally, Wells Fargo & Company upped their price objective on shares of Mastercard from $625.00 to $650.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $630.89.

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.