Klingman & Associates LLC Boosts Position in Mastercard Incorporated $MA

Klingman & Associates LLC raised its stake in shares of Mastercard Incorporated (NYSE:MA) by 4.4% in the second quarter, Holdings Channel reports. The institutional investor owned 7,535 shares of the credit services provider’s stock after buying an additional 321 shares during the quarter. Klingman & Associates LLC’s holdings in Mastercard were worth $4,234,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Phoenix Financial Ltd. grew its holdings in shares of Mastercard by 8.3% during the second quarter. Phoenix Financial Ltd. now owns 44,571 shares of the credit services provider’s stock worth $24,999,000 after purchasing an additional 3,411 shares in the last quarter. Avidian Wealth Enterprises LLC grew its holdings in shares of Mastercard by 11.7% during the second quarter. Avidian Wealth Enterprises LLC now owns 2,255 shares of the credit services provider’s stock worth $1,267,000 after purchasing an additional 236 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of Mastercard by 1.0% during the second quarter. DekaBank Deutsche Girozentrale now owns 1,322,367 shares of the credit services provider’s stock worth $736,889,000 after purchasing an additional 12,641 shares in the last quarter. Journey Advisory Group LLC grew its holdings in shares of Mastercard by 11.2% during the second quarter. Journey Advisory Group LLC now owns 3,243 shares of the credit services provider’s stock worth $1,822,000 after purchasing an additional 327 shares in the last quarter. Finally, Bogart Wealth LLC grew its holdings in shares of Mastercard by 2.2% during the second quarter. Bogart Wealth LLC now owns 20,059 shares of the credit services provider’s stock worth $11,272,000 after purchasing an additional 427 shares in the last quarter. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MA. Royal Bank Of Canada boosted their price objective on Mastercard from $650.00 to $656.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. TD Cowen reissued a “buy” rating and set a $645.00 price objective on shares of Mastercard in a report on Monday, August 11th. The Goldman Sachs Group reissued a “buy” rating on shares of Mastercard in a report on Friday, August 1st. Robert W. Baird boosted 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, Wells Fargo & Company boosted their target price on Mastercard from $625.00 to $650.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Mastercard presently has a consensus rating of “Buy” and an average price target of $634.04.

Insider Buying and Selling at Mastercard

In other news, CFO J. Mehra Sachin sold 17,263 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $18,459,294. This represents a 35.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.09% of the company’s stock.

Mastercard Stock Performance

NYSE:MA opened at $566.35 on Tuesday. The business has a 50 day moving average of $580.07 and a 200 day moving average of $564.03. The company has a market capitalization of $511.99 billion, a price-to-earnings ratio of 38.19, a PEG ratio of 2.30 and a beta of 0.97. 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.

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

Mastercard Announces Dividend

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

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.