Castle Rock Wealth Management LLC Buys 64 Shares of Mastercard Incorporated (NYSE:MA)

Castle Rock Wealth Management LLC boosted its position in Mastercard Incorporated (NYSE:MA) by 1.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,625 shares of the credit services provider’s stock after acquiring an additional 64 shares during the quarter. Castle Rock Wealth Management LLC’s holdings in Mastercard were worth $2,289,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Westend Capital Management LLC bought a new position in shares of Mastercard in the 1st quarter valued at $27,000. Palisade Asset Management LLC acquired a new stake in Mastercard during the 1st quarter worth approximately $27,000. Scarborough Advisors LLC bought a new position in shares of Mastercard during the fourth quarter valued at $28,000. Beaird Harris Wealth Management LLC bought a new stake in shares of Mastercard in the fourth quarter worth $30,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in Mastercard during the 2nd quarter worth $34,000. 97.28% of the stock is currently owned by institutional investors.

Insider Transactions at Mastercard

In other news, CMO Venkata R. Madabhushi sold 4,685 shares of the firm’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 completion of the sale, the chief marketing officer now owns 15,031 shares in the company, valued at $7,363,085.66. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Mastercard news, major shareholder Foundation Mastercard sold 90,000 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $468.80, for a total transaction of $42,192,000.00. Following the sale, the insider now directly owns 91,649,308 shares of the company’s stock, valued at $42,965,195,590.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CMO Venkata R. Madabhushi sold 4,685 shares of Mastercard stock in a transaction dated Friday, September 20th. The stock was 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 $7,363,085.66. 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 ninety days. Company insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on MA shares. Bank of America raised their price objective on Mastercard from $480.00 to $509.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. Susquehanna boosted their price objective on Mastercard from $535.00 to $540.00 and gave the company a “positive” rating in a research note on Thursday, August 1st. Evercore ISI lowered their target price on Mastercard from $540.00 to $525.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Piper Sandler increased their price target on Mastercard from $531.00 to $536.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, BNP Paribas lowered shares of Mastercard from an “outperform” rating to a “neutral” rating and set a $470.00 price objective for the company. in a research note on Tuesday, September 3rd. Five investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Mastercard has an average rating of “Moderate Buy” and an average target price of $518.96.

Mastercard Stock Up 0.3 %

Shares of MA traded up $1.59 during trading hours on Friday, reaching $499.61. 469,694 shares of the stock traded hands, compared to its average volume of 2,432,547. Mastercard Incorporated has a 52 week low of $359.77 and a 52 week high of $501.80. The company has a market cap of $461.56 billion, a price-to-earnings ratio of 38.20, a PEG ratio of 2.22 and a beta of 1.10. The stock has a fifty day simple moving average of $479.97 and a 200 day simple moving average of $462.90. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.95.

Mastercard (NYSE:MA) last posted its earnings results on Wednesday, July 31st. The credit services provider reported $3.59 EPS for the quarter, topping the consensus estimate of $3.51 by $0.08. The firm had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $6.85 billion. Mastercard had a net margin of 46.45% and a return on equity of 179.78%. On average, equities analysts forecast that Mastercard Incorporated will post 14.3 EPS for the current year.

Mastercard Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders 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 dividend yield of 0.53%. The ex-dividend date of this dividend is Wednesday, October 9th. Mastercard’s dividend payout ratio is presently 20.18%.

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.