Walter & Keenan Financial Consulting Co. MI ADV trimmed its holdings in Mastercard Incorporated (NYSE:MA) by 9.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,593 shares of the credit services provider’s stock after selling 160 shares during the quarter. Walter & Keenan Financial Consulting Co. MI ADV’s holdings in Mastercard were worth $539,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Carolina Wealth Advisors LLC bought a new stake in Mastercard during the 3rd quarter worth about $30,000. Newfound Research LLC acquired a new position in shares of Mastercard during the third quarter worth approximately $34,000. Larson Financial Group LLC grew its stake in shares of Mastercard by 55.2% during the third quarter. Larson Financial Group LLC now owns 104 shares of the credit services provider’s stock valued at $35,000 after purchasing an additional 37 shares during the last quarter. Evolution Wealth Advisors LLC increased its holdings in shares of Mastercard by 530.4% in the second quarter. Evolution Wealth Advisors LLC now owns 145 shares of the credit services provider’s stock valued at $43,000 after purchasing an additional 122 shares in the last quarter. Finally, Virtus Alternative Investment Advisers Inc. bought a new position in Mastercard in the 2nd quarter worth approximately $46,000. Institutional investors and hedge funds own 73.72% of the company’s stock.
Shares of NYSE MA traded down $10.90 during midday trading on Friday, reaching $282.28. The company’s stock had a trading volume of 309,095 shares, compared to its average volume of 4,905,736. The stock has a 50 day simple moving average of $335.63 and a 200-day simple moving average of $310.65. Mastercard Incorporated has a fifty-two week low of $199.99 and a fifty-two week high of $367.25. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 1.92. The stock has a market capitalization of $293.49 billion, a price-to-earnings ratio of 39.38, a PEG ratio of 2.77 and a beta of 1.11.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Friday, October 9th will be paid a $0.40 dividend. The ex-dividend date is Thursday, October 8th. This represents a $1.60 annualized dividend and a yield of 0.57%. Mastercard’s dividend payout ratio (DPR) is currently 20.59%.
In related news, insider Kevin Stanton sold 29,117 shares of the business’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $340.21, for a total value of $9,905,894.57. Following the completion of the sale, the insider now directly owns 28,122 shares in the company, valued at approximately $9,567,385.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Fraccaro sold 6,913 shares of the company’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $327.50, for a total value of $2,264,007.50. Following the completion of the transaction, the insider now directly owns 7,938 shares in the company, valued at $2,599,695. The disclosure for this sale can be found here. Insiders sold a total of 196,571 shares of company stock valued at $65,431,990 over the last quarter. 3.79% of the stock is currently owned by company insiders.
Several equities research analysts have recently commented on the company. The Goldman Sachs Group assumed coverage on Mastercard in a research note on Tuesday, July 14th. They issued a “buy” rating and a $364.00 target price for the company. BMO Capital Markets lowered their price objective on Mastercard from $345.00 to $333.00 and set an “outperform” rating for the company in a research report on Thursday. Compass Point boosted their price objective on Mastercard from $330.00 to $370.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Daiwa Capital Markets reaffirmed a “neutral” rating and issued a $314.00 target price on shares of Mastercard in a research note on Tuesday, July 21st. Finally, Oppenheimer assumed coverage on shares of Mastercard in a research note on Friday, July 31st. They set a “hold” rating for the company. Five investment analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the company. Mastercard has an average rating of “Buy” and an average target price of $349.39.
Mastercard Company Profile
Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers related products and services.
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