Joel Isaacson & Co. LLC Raises Position in Mastercard Incorporated (NYSE:MA)

Joel Isaacson & Co. LLC increased its stake in Mastercard Incorporated (NYSE:MA) by 2.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 1,496 shares of the credit services provider’s stock after purchasing an additional 35 shares during the quarter. Joel Isaacson & Co. LLC’s holdings in Mastercard were worth $739,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. McLean Asset Management Corp raised its stake in shares of Mastercard by 1.3% in the 3rd quarter. McLean Asset Management Corp now owns 1,677 shares of the credit services provider’s stock valued at $834,000 after acquiring an additional 21 shares in the last quarter. Quilter Plc raised its position in shares of Mastercard by 2.8% in the second quarter. Quilter Plc now owns 801 shares of the credit services provider’s stock valued at $353,000 after purchasing an additional 22 shares during the period. Cornerstone Wealth Management LLC lifted 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 buying an additional 22 shares during the last quarter. Lafayette Investments Inc. boosted its holdings in shares of Mastercard by 4.4% during the 3rd quarter. Lafayette Investments Inc. now owns 524 shares of the credit services provider’s stock worth $259,000 after buying an additional 22 shares during the period. Finally, Strategic Advisors LLC grew its stake in Mastercard by 0.3% in the 1st quarter. Strategic Advisors LLC now owns 6,881 shares of the credit services provider’s stock valued at $3,314,000 after buying an additional 23 shares during the last quarter. 97.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on MA shares. Royal Bank of Canada upped their price target on shares of Mastercard from $500.00 to $526.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Robert W. Baird increased their target price on Mastercard from $545.00 to $575.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. lifted their price target on Mastercard from $570.00 to $593.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Susquehanna increased their price objective on Mastercard from $535.00 to $540.00 and gave the company a “positive” rating in a research report on Thursday, August 1st. Finally, William Blair raised shares of Mastercard to a “strong-buy” rating in a research report on Wednesday, July 31st. 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $525.68.

Insiders Place Their Bets

In other news, major shareholder Foundation Mastercard sold 119,000 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $468.46, for a total value of $55,746,740.00. Following the completion of the sale, the insider now directly owns 92,033,308 shares in the company, valued at approximately $43,113,923,465.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other Mastercard news, CMO Venkata R. Madabhushi sold 4,685 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $493.10, for a total transaction of $2,310,173.50. Following the transaction, the chief marketing officer now owns 17,118 shares of the company’s stock, valued at approximately $8,440,885.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Foundation Mastercard sold 119,000 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $468.46, for a total value of $55,746,740.00. Following the sale, the insider now owns 92,033,308 shares of the company’s stock, valued at approximately $43,113,923,465.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 340,809 shares of company stock valued at $159,610,703. 0.10% of the stock is currently owned by corporate insiders.

Mastercard Stock Down 0.6 %

Shares of NYSE:MA opened at $507.36 on Friday. The company has a market capitalization of $471.65 billion, a PE ratio of 40.33, a P/E/G ratio of 2.27 and a beta of 1.10. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.14 and a current ratio of 1.14. The company’s fifty day moving average is $491.84 and its 200-day moving average is $465.39. Mastercard Incorporated has a 52 week low of $359.77 and a 52 week high of $518.82.

Mastercard (NYSE:MA) last issued its quarterly earnings data on Wednesday, July 31st. The credit services provider reported $3.59 earnings per share for the quarter, topping the consensus estimate of $3.51 by $0.08. Mastercard had a net margin of 46.45% and a return on equity of 179.78%. The firm had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $6.85 billion. Equities research analysts predict that Mastercard Incorporated will post 14.32 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Wednesday, October 9th will be given a $0.66 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $2.64 annualized dividend and a yield of 0.52%. Mastercard’s payout ratio is 20.99%.

Mastercard 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.