Beese Fulmer Investment Management Inc. Has $33.85 Million Stock Holdings in Mastercard Incorporated (NYSE:MA)

Beese Fulmer Investment Management Inc. lessened its stake in Mastercard Incorporated (NYSE:MA) by 0.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 68,543 shares of the credit services provider’s stock after selling 640 shares during the period. Mastercard makes up approximately 2.9% of Beese Fulmer Investment Management Inc.’s holdings, making the stock its 3rd largest position. Beese Fulmer Investment Management Inc.’s holdings in Mastercard were worth $33,847,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Palisade Asset Management LLC bought a new stake in shares of Mastercard during the 1st quarter valued at $27,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Mastercard during the 2nd quarter valued at $34,000. Fairway Wealth LLC bought a new stake in shares of Mastercard during the 2nd quarter valued at $35,000. Lowe Wealth Advisors LLC grew its position in shares of Mastercard by 74.0% during the 3rd quarter. Lowe Wealth Advisors LLC now owns 87 shares of the credit services provider’s stock valued at $43,000 after acquiring an additional 37 shares during the period. Finally, VitalStone Financial LLC grew its position in shares of Mastercard by 55.0% during the 1st quarter. VitalStone Financial LLC now owns 93 shares of the credit services provider’s stock valued at $45,000 after acquiring an additional 33 shares during the period. Institutional investors own 97.28% of the company’s stock.

Mastercard Stock Performance

Shares of NYSE:MA opened at $513.73 on Thursday. The company has a market capitalization of $477.57 billion, a price-to-earnings ratio of 40.84, a PEG ratio of 2.22 and a beta of 1.10. Mastercard Incorporated has a 12 month low of $359.77 and a 12 month high of $518.82. The firm’s 50-day moving average is $490.23 and its 200 day moving average is $464.93. 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 issued its quarterly earnings results on Wednesday, July 31st. The credit services provider reported $3.59 EPS for the quarter, beating the consensus estimate of $3.51 by $0.08. The company had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.85 billion. Mastercard had a net margin of 46.45% and a return on equity of 179.78%. Research analysts predict that Mastercard Incorporated will post 14.3 EPS for the current year.

Mastercard Announces Dividend

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 paid 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 yield of 0.51%. Mastercard’s dividend payout ratio is currently 20.99%.

Wall Street Analysts Forecast Growth

MA has been the subject of a number of recent research reports. TD Cowen boosted their price objective on shares of Mastercard from $532.00 to $533.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Royal Bank of Canada lifted their target price on shares of Mastercard from $500.00 to $526.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. William Blair upgraded shares of Mastercard to a “strong-buy” rating in a research note on Wednesday, July 31st. Oppenheimer began coverage on shares of Mastercard in a research note on Tuesday, October 1st. They set an “outperform” rating and a $591.00 target price on the stock. Finally, Piper Sandler lifted their target price on shares of Mastercard from $531.00 to $536.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Mastercard currently has a consensus rating of “Moderate Buy” and an average price target of $525.68.

Insiders Place Their Bets

In other Mastercard news, CFO J. Mehra Sachin sold 13,439 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were 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 in the company, valued at $12,423,320. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Mastercard news, CFO J. Mehra Sachin sold 13,439 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were 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 in the company, valued at $12,423,320. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Venkata R. Madabhushi sold 4,685 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $493.10, for a total transaction of $2,310,173.50. Following the transaction, the chief marketing officer now owns 17,118 shares in the company, valued at approximately $8,440,885.80. This represents a 0.00 % decrease in their ownership of the stock. 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 three months. Corporate insiders own 0.10% of the company’s stock.

Mastercard Profile

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.