Buckley Wealth Management LLC lowered its stake in shares of Mastercard Inc (NYSE:MA) by 6.7% in the third quarter, Holdings Channel reports. The firm owned 3,066 shares of the credit services provider’s stock after selling 220 shares during the period. Buckley Wealth Management LLC’s holdings in Mastercard were worth $833,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently made changes to their positions in the business. Foster Victor Wealth Advisors LLC boosted its position in Mastercard by 90.1% during the third quarter. Foster Victor Wealth Advisors LLC now owns 8,746 shares of the credit services provider’s stock worth $2,381,000 after purchasing an additional 4,145 shares during the period. Welch & Forbes LLC lifted its holdings in shares of Mastercard by 13.1% during the third quarter. Welch & Forbes LLC now owns 14,296 shares of the credit services provider’s stock worth $3,882,000 after buying an additional 1,657 shares during the last quarter. Evanson Asset Management LLC lifted its holdings in shares of Mastercard by 9.6% during the third quarter. Evanson Asset Management LLC now owns 2,400 shares of the credit services provider’s stock worth $652,000 after buying an additional 211 shares during the last quarter. Selz Capital LLC acquired a new position in shares of Mastercard during the third quarter worth approximately $16,837,000. Finally, Burns J W & Co. Inc. NY acquired a new position in shares of Mastercard during the third quarter worth approximately $212,000. 74.30% of the stock is owned by hedge funds and other institutional investors.
In related news, major shareholder Foundation Mastercard sold 7,950 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $275.98, for a total value of $2,194,041.00. Following the transaction, the insider now owns 112,173,812 shares in the company, valued at $30,957,728,635.76. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael Miebach sold 2,233 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $283.12, for a total value of $632,206.96. Following the completion of the transaction, the insider now owns 15,548 shares in the company, valued at approximately $4,401,949.76. The disclosure for this sale can be found here. Insiders sold 140,143 shares of company stock worth $38,535,340 over the last quarter. Company insiders own 3.70% of the company’s stock.
Mastercard (NYSE:MA) last announced its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.07. Mastercard had a return on equity of 135.02% and a net margin of 42.71%. The firm had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same period in the prior year, the business posted $1.66 earnings per share. The business’s revenue was up 12.2% compared to the same quarter last year. As a group, sell-side analysts expect that Mastercard Inc will post 7.61 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Wednesday, October 9th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Tuesday, October 8th. Mastercard’s dividend payout ratio (DPR) is 20.34%.
A number of brokerages have recently commented on MA. Tigress Financial reiterated a “buy” rating on shares of Mastercard in a report on Thursday, August 22nd. Argus upped their target price on Mastercard to $320.00 and gave the company an “average” rating in a research note on Wednesday, July 31st. Royal Bank of Canada set a $315.00 target price on Mastercard and gave the company a “buy” rating in a research note on Wednesday, August 7th. Wedbush upped their target price on Mastercard from $261.00 to $287.00 and gave the company an “outperform” rating in a research note on Thursday, June 13th. Finally, Susquehanna Bancshares upped their target price on Mastercard from $293.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Mastercard currently has a consensus rating of “Buy” and a consensus target price of $299.09.
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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