WealthPlan Investment Management LLC Buys 4,087 Shares of Mastercard Incorporated (NYSE:MA)

WealthPlan Investment Management LLC boosted its stake in Mastercard Incorporated (NYSE:MA) by 27.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 18,827 shares of the credit services provider’s stock after acquiring an additional 4,087 shares during the quarter. WealthPlan Investment Management LLC’s holdings in Mastercard were worth $9,297,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Highline Wealth Partners LLC acquired a new position in shares of Mastercard during the 3rd quarter worth about $25,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Mastercard during the 2nd quarter worth about $34,000. Fairway Wealth LLC acquired a new position in shares of Mastercard during the 2nd quarter worth about $35,000. First Personal Financial Services acquired a new position in shares of Mastercard during the 3rd quarter worth about $39,000. Finally, Lowe Wealth Advisors LLC increased its stake 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 worth $43,000 after purchasing an additional 37 shares during the last quarter. 97.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MA. Piper Sandler reiterated an “overweight” rating and issued a $565.00 price target (up previously from $536.00) on shares of Mastercard in a research note on Friday, November 1st. Argus upgraded shares of Mastercard to a “strong-buy” rating in a research note on Thursday, August 1st. BMO Capital Markets reissued an “outperform” rating and issued a $520.00 price objective on shares of Mastercard in a report on Wednesday, August 14th. Citigroup boosted their price objective on shares of Mastercard from $566.00 to $572.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, Susquehanna boosted their price objective on shares of Mastercard from $540.00 to $605.00 and gave the company a “positive” rating in a report on Friday, November 1st. Four research analysts have rated the stock with a hold rating, twenty have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $540.17.

Insider Buying and Selling

In related news, major shareholder Foundation Mastercard sold 109,000 shares of Mastercard stock in a transaction on Monday, August 19th. The shares were sold at an average price of $467.45, for a total transaction of $50,952,050.00. Following the completion of the transaction, the insider now owns 91,924,308 shares of the company’s stock, valued at $42,970,017,774.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Mastercard news, major shareholder Foundation Mastercard sold 109,000 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $467.45, for a total value of $50,952,050.00. Following the completion of the sale, the insider now directly owns 91,924,308 shares in the company, valued at approximately $42,970,017,774.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO Venkata R. Madabhushi sold 4,685 shares of the firm’s stock in a transaction on 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 327,370 shares of company stock valued at $153,495,958 over the last quarter. Insiders own 0.10% of the company’s stock.

Mastercard Trading Up 1.0 %

Shares of NYSE MA opened at $530.12 on Tuesday. The company has a debt-to-equity ratio of 2.36, a quick ratio of 1.29 and a current ratio of 1.29. Mastercard Incorporated has a 52-week low of $393.02 and a 52-week high of $534.03. The firm has a 50 day moving average price of $500.61 and a two-hundred day moving average price of $469.41. The stock has a market cap of $486.56 billion, a P/E ratio of 40.10, a price-to-earnings-growth ratio of 2.30 and a beta of 1.10.

Mastercard (NYSE:MA) last announced its quarterly earnings results on Thursday, October 31st. The credit services provider reported $3.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.73 by $0.16. Mastercard had a net margin of 45.26% and a return on equity of 178.27%. The firm had revenue of $7.37 billion during the quarter, compared to analysts’ expectations of $7.27 billion. During the same period in the prior year, the company posted $3.39 EPS. The company’s revenue was up 12.8% on a year-over-year basis. As a group, equities analysts forecast that Mastercard Incorporated will post 14.45 EPS for the current year.

Mastercard Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Wednesday, October 9th were paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend was Wednesday, October 9th. Mastercard’s dividend payout ratio is presently 19.97%.

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.