Powers Advisory Group LLC Invests $228,000 in Mastercard Incorporated (NYSE:MA)

by · The Markets Daily

Powers Advisory Group LLC purchased a new stake in shares of Mastercard Incorporated (NYSE:MA – Free Report) during the third quarter, Holdings Channel reports. The institutional investor purchased 462 shares of the credit services provider’s stock, valued at approximately $228,000.

A number of other institutional investors also recently modified their holdings of the business. Swedbank AB bought a new position in shares of Mastercard in the first quarter valued at approximately $660,652,000. PineStone Asset Management Inc. lifted its stake in Mastercard by 145.6% in the 2nd quarter. PineStone Asset Management Inc. now owns 1,777,468 shares of the credit services provider’s stock worth $784,148,000 after purchasing an additional 1,053,616 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in Mastercard in the 2nd quarter valued at $259,071,000. Global Assets Advisory LLC purchased a new position in shares of Mastercard during the 1st quarter valued at $203,198,000. Finally, Capital World Investors increased its holdings in shares of Mastercard by 13.3% in the first quarter. Capital World Investors now owns 3,293,617 shares of the credit services provider’s stock worth $1,586,107,000 after purchasing an additional 387,317 shares during the period. 97.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CMO Venkata R. Madabhushi sold 4,685 shares of the firm’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 completion of the transaction, the chief marketing officer now directly owns 17,118 shares in the company, valued at $8,440,885.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO J. Mehra Sachin sold 13,439 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $455.00, for a total value of $6,114,745.00. Following the transaction, the chief financial officer now directly owns 27,304 shares of the company’s stock, valued at approximately $12,423,320. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CMO Venkata R. Madabhushi sold 4,685 shares of Mastercard stock in a transaction on Friday, September 13th. The stock was sold at an average price of $493.10, for a total value of $2,310,173.50. Following the completion of the sale, the chief marketing officer now directly owns 17,118 shares of the company’s stock, valued at approximately $8,440,885.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 340,809 shares of company stock worth $159,610,703 in the last 90 days. Insiders own 0.10% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on MA. Oppenheimer began coverage on Mastercard in a research note on Tuesday, October 1st. They set an “outperform” rating and a $591.00 price objective for the company. BNP Paribas downgraded Mastercard from an “outperform” rating to a “neutral” rating and set a $470.00 price target for the company. in a research report on Tuesday, September 3rd. Barclays upped their price objective on shares of Mastercard from $536.00 to $576.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. William Blair upgraded shares of Mastercard to a “strong-buy” rating in a research report on Wednesday, July 31st. Finally, Piper Sandler increased their price target on shares of Mastercard from $531.00 to $536.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $524.64.

Check Out Our Latest Stock Report on Mastercard

Mastercard Price Performance

MA stock opened at $516.34 on Friday. The firm has a 50-day moving average of $486.90 and a 200 day moving average of $464.10. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.14 and a quick ratio of 1.14. The company has a market cap of $480.00 billion, a P/E ratio of 41.04, a PEG ratio of 2.22 and a beta of 1.10. Mastercard Incorporated has a 1 year low of $359.77 and a 1 year high of $518.00.

Mastercard (NYSE:MA – Get Free Report) last released its earnings results on Wednesday, July 31st. The credit services provider reported $3.59 EPS for the quarter, beating analysts’ consensus estimates of $3.51 by $0.08. The company had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $6.85 billion. Mastercard had a return on equity of 179.78% and a net margin of 46.45%. On average, sell-side analysts forecast that Mastercard Incorporated will post 14.3 EPS for the current year.

Mastercard Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th will be given a $0.66 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.51%. Mastercard’s dividend payout ratio is currently 20.99%.

Mastercard Profile

(Free Report)

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.

Further Reading

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