RKL Wealth Management LLC Sells 514 Shares of Mastercard Incorporated $MA

RKL Wealth Management LLC reduced its holdings in shares of Mastercard Incorporated (NYSE:MA) by 2.7% in the second quarter, Holdings Channel.com reports. The fund owned 18,715 shares of the credit services provider’s stock after selling 514 shares during the quarter. Mastercard comprises about 0.9% of RKL Wealth Management LLC’s portfolio, making the stock its 23rd largest holding. RKL Wealth Management LLC’s holdings in Mastercard were worth $10,517,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. ORG Partners LLC increased its holdings in Mastercard by 73.2% during the 2nd quarter. ORG Partners LLC now owns 698 shares of the credit services provider’s stock worth $394,000 after purchasing an additional 295 shares during the period. Ethos Financial Group LLC increased its holdings in Mastercard by 19.5% during the 1st quarter. Ethos Financial Group LLC now owns 3,174 shares of the credit services provider’s stock worth $1,683,000 after purchasing an additional 518 shares during the period. Fortis Advisors LLC increased its holdings in Mastercard by 9.4% during the 1st quarter. Fortis Advisors LLC now owns 871 shares of the credit services provider’s stock worth $477,000 after purchasing an additional 75 shares during the period. Canandaigua National Trust Co of Florida increased its holdings in Mastercard by 36.4% during the 1st quarter. Canandaigua National Trust Co of Florida now owns 693 shares of the credit services provider’s stock worth $380,000 after purchasing an additional 185 shares during the period. Finally, SeaBridge Investment Advisors LLC increased its holdings in Mastercard by 4.3% during the 2nd quarter. SeaBridge Investment Advisors LLC now owns 6,463 shares of the credit services provider’s stock worth $3,632,000 after purchasing an additional 264 shares during the period. 97.28% of the stock is owned by institutional investors.

Insider Transactions at Mastercard

In other Mastercard news, CFO J. Mehra Sachin sold 17,263 shares of Mastercard stock in a transaction dated 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. The trade was a 35.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Julius Genachowski sold 312 shares of Mastercard stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $570.67, for a total value of $178,049.04. Following the sale, the director directly owned 8,469 shares of the company’s stock, valued at approximately $4,833,004.23. This represents a 3.55% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,391 shares of company stock valued at $20,836,514. 0.09% of the stock is currently owned by insiders.

Mastercard Stock Up 1.0%

Shares of MA stock opened at $574.40 on Thursday. Mastercard Incorporated has a 1-year low of $465.59 and a 1-year high of $601.77. The stock’s fifty day moving average price is $579.73 and its 200 day moving average price is $561.01. 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 $519.26 billion, a price-to-earnings ratio of 38.73, a price-to-earnings-growth ratio of 2.33 and a beta of 0.97.

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

Mastercard Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Shareholders 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 yield of 0.5%. Mastercard’s payout ratio is currently 20.50%.

Wall Street Analysts Forecast Growth

MA has been the topic of several research reports. Royal Bank Of Canada raised 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 reiterated a “buy” rating and issued a $645.00 price target on shares of Mastercard in a report on Monday, August 11th. The Goldman Sachs Group reiterated a “buy” rating on shares of Mastercard in a report on Friday, August 1st. Wells Fargo & Company lifted their price target on Mastercard from $625.00 to $650.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Finally, Seaport Res Ptn upgraded Mastercard from a “hold” rating to a “strong-buy” rating in a report on Monday, July 14th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $630.89.

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.