Mastercard Incorporated (NYSE:MA) Shares Purchased by Klingenstein Fields & Co. LP

Klingenstein Fields & Co. LP boosted its holdings in shares of Mastercard Incorporated (NYSE:MA) by 0.4% in the third quarter, HoldingsChannel reports. The firm owned 32,489 shares of the credit services provider’s stock after buying an additional 130 shares during the period. Klingenstein Fields & Co. LP’s holdings in Mastercard were worth $16,043,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. International Assets Investment Management LLC grew its position in Mastercard by 120,665.3% during the third quarter. International Assets Investment Management LLC now owns 8,041,758 shares of the credit services provider’s stock valued at $3,971,020,000 after buying an additional 8,035,099 shares during the period. Swedbank AB purchased a new stake in shares of Mastercard during the 1st quarter worth about $660,652,000. PineStone Asset Management Inc. grew its position in shares of Mastercard by 145.6% during the 2nd quarter. PineStone Asset Management Inc. now owns 1,777,468 shares of the credit services provider’s stock valued at $784,148,000 after acquiring an additional 1,053,616 shares during the period. Manning & Napier Advisors LLC purchased a new position in shares of Mastercard in the 2nd quarter valued at about $259,071,000. Finally, Capital World Investors raised its holdings in Mastercard by 13.3% in the 1st quarter. Capital World Investors now owns 3,293,617 shares of the credit services provider’s stock worth $1,586,107,000 after purchasing an additional 387,317 shares during the period. 97.28% of the stock is owned by hedge funds and other institutional investors.

Mastercard Stock Performance

NYSE:MA opened at $508.08 on Monday. The company’s 50-day moving average is $495.77 and its two-hundred day moving average is $466.94. Mastercard Incorporated has a 1-year low of $378.48 and a 1-year high of $527.90. The company has a debt-to-equity ratio of 2.36, a current ratio of 1.29 and a quick ratio of 1.14. The firm has a market capitalization of $469.38 billion, a price-to-earnings ratio of 38.43, a PEG ratio of 2.21 and a beta of 1.10.

Mastercard (NYSE:MA) last released its quarterly earnings data on Thursday, October 31st. The credit services provider reported $3.89 EPS for the quarter, beating analysts’ consensus estimates of $3.73 by $0.16. The firm had revenue of $7.37 billion for the quarter, compared to analysts’ expectations of $7.27 billion. Mastercard had a return on equity of 178.27% and a net margin of 45.26%. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the prior year, the firm posted $3.39 earnings per share. Analysts forecast that Mastercard Incorporated will post 14.35 EPS for the current year.

Mastercard Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th will be issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend is Wednesday, October 9th. Mastercard’s dividend payout ratio is presently 19.97%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. William Blair upgraded Mastercard to a “strong-buy” rating in a research report on Wednesday, July 31st. KeyCorp boosted their price target on shares of Mastercard from $515.00 to $580.00 and gave the stock an “overweight” rating in a report on Friday. Piper Sandler restated an “overweight” rating and set a $565.00 price objective (up from $536.00) on shares of Mastercard in a research report on Friday. Robert W. Baird lifted their target price on shares of Mastercard from $545.00 to $575.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada upped their price target on shares of Mastercard from $500.00 to $526.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $537.92.

Insider Buying and Selling

In other Mastercard news, CMO Venkata R. Madabhushi sold 4,685 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $493.10, for a total value of $2,310,173.50. Following the transaction, the chief marketing officer now owns 17,118 shares of the company’s stock, valued at $8,440,885.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 13th. The stock was sold at an average price of $493.10, for a total value of $2,310,173.50. Following the sale, the chief marketing officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Foundation Mastercard sold 109,000 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $467.45, for a total value of $50,952,050.00. Following the transaction, the insider now owns 91,924,308 shares of the company’s stock, valued at approximately $42,970,017,774.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 327,370 shares of company stock valued at $153,495,958. 0.10% of the stock is currently owned by insiders.

Mastercard Company 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.