Bellevue Asset Management LLC Cuts Stake in Mastercard Incorporated (NYSE:MA)

by · The Cerbat Gem

Bellevue Asset Management LLC decreased its position in Mastercard Incorporated (NYSE:MA – Free Report) by 32.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 238 shares of the credit services provider’s stock after selling 112 shares during the quarter. Bellevue Asset Management LLC’s holdings in Mastercard were worth $118,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Hudson Valley Investment Advisors Inc. ADV grew its position in shares of Mastercard by 3.6% during the third quarter. Hudson Valley Investment Advisors Inc. ADV now owns 1,084 shares of the credit services provider’s stock worth $535,000 after purchasing an additional 38 shares in the last quarter. JFS Wealth Advisors LLC grew its position in shares of Mastercard by 3.2% during the third quarter. JFS Wealth Advisors LLC now owns 773 shares of the credit services provider’s stock worth $381,000 after purchasing an additional 24 shares in the last quarter. SteelPeak Wealth LLC grew its position in shares of Mastercard by 0.6% during the third quarter. SteelPeak Wealth LLC now owns 4,956 shares of the credit services provider’s stock worth $2,447,000 after purchasing an additional 28 shares in the last quarter. Diversify Wealth Management LLC grew its position in shares of Mastercard by 4.5% during the third quarter. Diversify Wealth Management LLC now owns 8,047 shares of the credit services provider’s stock worth $4,134,000 after purchasing an additional 350 shares in the last quarter. Finally, Pinnacle Associates Ltd. grew its position in shares of Mastercard by 6.2% during the third quarter. Pinnacle Associates Ltd. now owns 42,373 shares of the credit services provider’s stock worth $20,924,000 after purchasing an additional 2,489 shares in the last quarter. Institutional investors own 97.28% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on MA. Susquehanna raised their price target on Mastercard from $535.00 to $540.00 and gave the company a “positive” rating in a report on Thursday, August 1st. BNP Paribas cut Mastercard from an “outperform” rating to a “neutral” rating and set a $470.00 price target for the company. in a report on Tuesday, September 3rd. JPMorgan Chase & Co. raised their price target on Mastercard from $570.00 to $593.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Robert W. Baird raised their price target on Mastercard from $545.00 to $575.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, KeyCorp raised their price objective on Mastercard from $490.00 to $515.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Mastercard presently has a consensus rating of “Moderate Buy” and an average price target of $525.68.

View Our Latest Report on Mastercard

Mastercard Trading Up 1.5 %

NYSE MA opened at $513.96 on Thursday. 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 has a market capitalization of $474.81 billion, a price-to-earnings ratio of 39.29, a price-to-earnings-growth ratio of 2.27 and a beta of 1.10. The company’s 50-day simple moving average is $494.33 and its two-hundred day simple moving average is $466.27. Mastercard Incorporated has a one year low of $373.11 and a one year high of $518.82.

Mastercard (NYSE:MA – Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The credit services provider reported $3.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $6.85 billion. Equities analysts forecast that Mastercard Incorporated will post 14.32 EPS for the current fiscal year.

Mastercard Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Wednesday, October 9th will be given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 0.51%. The ex-dividend date is Wednesday, October 9th. Mastercard’s dividend payout ratio is presently 20.18%.

Insiders Place Their Bets

In other Mastercard news, CMO Venkata R. Madabhushi sold 4,685 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $489.86, for a total transaction of $2,294,994.10. Following the sale, the chief marketing officer now owns 15,031 shares of the company’s stock, valued at approximately $7,363,085.66. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Mastercard news, CFO J. Mehra Sachin sold 13,439 shares of Mastercard stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $455.00, for a total transaction of $6,114,745.00. Following the completion of the sale, the chief financial officer now directly owns 27,304 shares in the company, valued at approximately $12,423,320. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CMO Venkata R. Madabhushi sold 4,685 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $489.86, for a total transaction of $2,294,994.10. Following the completion of the transaction, the chief marketing officer now owns 15,031 shares of the company’s stock, valued at approximately $7,363,085.66. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 340,809 shares of company stock valued at $159,610,703. Insiders own 0.10% of the company’s stock.

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.

Read More