New York Life Investment Management LLC Acquires 924 Shares of Mastercard Incorporated $MA

New York Life Investment Management LLC lifted its holdings in shares of Mastercard Incorporated (NYSE:MA) by 0.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 121,372 shares of the credit services provider’s stock after acquiring an additional 924 shares during the period. Mastercard makes up 0.6% of New York Life Investment Management LLC’s holdings, making the stock its 27th biggest holding. New York Life Investment Management LLC’s holdings in Mastercard were worth $68,204,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in MA. Brighton Jones LLC increased its position in shares of Mastercard by 42.3% during the fourth quarter. Brighton Jones LLC now owns 6,824 shares of the credit services provider’s stock worth $3,594,000 after acquiring an additional 2,028 shares in the last quarter. Golden State Wealth Management LLC increased its position in shares of Mastercard by 2.5% during the first quarter. Golden State Wealth Management LLC now owns 1,157 shares of the credit services provider’s stock worth $635,000 after acquiring an additional 28 shares in the last quarter. Joel Isaacson & Co. LLC increased its position in shares of Mastercard by 16.3% during the first quarter. Joel Isaacson & Co. LLC now owns 1,780 shares of the credit services provider’s stock worth $976,000 after acquiring an additional 249 shares in the last quarter. Sovran Advisors LLC increased its position in shares of Mastercard by 10.6% during the first quarter. Sovran Advisors LLC now owns 2,445 shares of the credit services provider’s stock worth $1,265,000 after acquiring an additional 234 shares in the last quarter. Finally, Avidian Wealth Enterprises LLC increased its position in shares of Mastercard by 6.6% during the first quarter. Avidian Wealth Enterprises LLC now owns 2,019 shares of the credit services provider’s stock worth $1,107,000 after acquiring an additional 125 shares in the last quarter. 97.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MA has been the subject of a number of recent analyst reports. Seaport Res Ptn raised shares of Mastercard from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mastercard in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Mastercard from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Morgan Stanley upped their price objective on shares of Mastercard from $639.00 to $661.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Finally, Citigroup raised shares of Mastercard to a “strong-buy” rating in a research report on Thursday, October 23rd. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $638.96.

Mastercard Trading Down 0.4%

Shares of MA stock opened at $571.51 on Tuesday. The company has a 50 day moving average of $579.25 and a 200-day moving average of $566.75. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 2.41. Mastercard Incorporated has a 12-month low of $465.59 and a 12-month high of $601.77. The firm has a market cap of $516.65 billion, a P/E ratio of 38.54, a PEG ratio of 2.35 and a beta of 0.97.

Mastercard (NYSE:MA) last issued its quarterly earnings results on Thursday, July 31st. The credit services provider reported $4.15 earnings per share (EPS) for the quarter, topping 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 company had revenue of $8.13 billion during the quarter, compared to analyst estimates of $7.95 billion. During the same quarter last year, the business posted $3.50 EPS. Mastercard’s quarterly revenue was up 16.8% compared to the same quarter last year. Sell-side analysts anticipate that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Dividend Announcement

The business also recently declared 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. The ex-dividend date is Thursday, October 9th. This represents a $3.04 annualized dividend and a dividend yield of 0.5%. Mastercard’s dividend payout ratio (DPR) is presently 20.50%.

Insider Activity

In other news, CFO J. Mehra Sachin sold 17,263 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were 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 $18,459,294. This trade represents a 35.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.09% of the stock is currently owned by insiders.

About Mastercard

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.