Fortitude Family Office LLC Boosts Stock Position in Mastercard Incorporated (NYSE:MA)

Fortitude Family Office LLC grew its holdings in shares of Mastercard Incorporated (NYSE:MA) by 11.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 636 shares of the credit services provider’s stock after buying an additional 63 shares during the quarter. Fortitude Family Office LLC’s holdings in Mastercard were worth $314,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. First Trust Direct Indexing L.P. increased its position in shares of Mastercard by 14.2% in the 1st quarter. First Trust Direct Indexing L.P. now owns 20,552 shares of the credit services provider’s stock worth $9,897,000 after purchasing an additional 2,556 shares during the last quarter. Coppell Advisory Solutions Corp. acquired a new position in Mastercard in the first quarter worth about $608,000. SteelPeak Wealth LLC increased its holdings in Mastercard by 48.6% in the second quarter. SteelPeak Wealth LLC now owns 4,928 shares of the credit services provider’s stock valued at $2,174,000 after buying an additional 1,612 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in Mastercard during the first quarter valued at approximately $2,938,000. Finally, OMC Financial Services LTD bought a new position in Mastercard during the 1st quarter worth approximately $17,854,000. 97.28% of the stock is currently owned by hedge funds and other institutional investors.

Mastercard Stock Up 0.2 %

MA stock opened at $508.21 on Tuesday. The firm’s 50-day moving average is $492.66 and its two-hundred day moving average is $465.65. The company has a market capitalization of $472.44 billion, a price-to-earnings ratio of 40.39, a price-to-earnings-growth ratio of 2.27 and a beta of 1.10. Mastercard Incorporated has a 52 week low of $364.72 and a 52 week high of $518.82. 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 announced 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 return on equity of 179.78% and a net margin of 46.45%. On average, analysts forecast that Mastercard Incorporated will post 14.32 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th will be paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date is Wednesday, October 9th. Mastercard’s dividend payout ratio is presently 20.99%.

Insider Activity

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

Analyst Ratings Changes

Several research firms recently issued reports on MA. Citigroup upped their price target on Mastercard from $528.00 to $538.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. TD Cowen increased their target price on shares of Mastercard from $532.00 to $533.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Royal Bank of Canada lifted their price target on shares of Mastercard from $500.00 to $526.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Oppenheimer started coverage on shares of Mastercard in a report on Tuesday, October 1st. They issued an “outperform” rating and a $591.00 target price on the stock. Finally, Piper Sandler raised their target price 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 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $525.68.

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.