Connable Office Inc. Sells 98 Shares of Mastercard Incorporated (NYSE:MA)

Connable Office Inc. lessened its position in Mastercard Incorporated (NYSE:MA) by 0.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,149 shares of the credit services provider’s stock after selling 98 shares during the quarter. Mastercard comprises about 0.7% of Connable Office Inc.’s investment portfolio, making the stock its 24th biggest position. Connable Office Inc.’s holdings in Mastercard were worth $6,493,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Highline Wealth Partners LLC bought a new position in Mastercard during the third quarter worth $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in Mastercard in the 2nd quarter worth $34,000. Fairway Wealth LLC bought 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 third quarter valued at about $39,000. Finally, Lowe Wealth Advisors LLC lifted its stake in shares of Mastercard by 74.0% in the third quarter. Lowe Wealth Advisors LLC now owns 87 shares of the credit services provider’s stock valued at $43,000 after buying an additional 37 shares during the period. Institutional investors and hedge funds own 97.28% of the company’s stock.

Mastercard Stock Down 0.3 %

Shares of NYSE:MA opened at $520.40 on Friday. Mastercard Incorporated has a 52 week low of $394.76 and a 52 week high of $534.03. The company has a market capitalization of $477.64 billion, a PE ratio of 39.36, a PEG ratio of 2.28 and a beta of 1.10. The company has a debt-to-equity ratio of 2.36, a quick ratio of 1.29 and a current ratio of 1.29. The company has a 50 day moving average price of $502.32 and a two-hundred day moving average price of $470.24.

Mastercard (NYSE:MA) last released its quarterly earnings results on Thursday, October 31st. The credit services provider reported $3.89 earnings per share 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 company had revenue of $7.37 billion during the quarter, compared to analysts’ expectations of $7.27 billion. During the same quarter in the prior year, the company earned $3.39 earnings per share. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. Analysts forecast that Mastercard Incorporated will post 14.45 earnings per share for the current year.

Mastercard Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Wednesday, October 9th were issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 0.51%. The ex-dividend date was Wednesday, October 9th. Mastercard’s payout ratio is 19.97%.

Analysts Set New Price Targets

A number of brokerages recently commented on MA. Morgan Stanley upped their target price on Mastercard from $544.00 to $564.00 and gave the company an “overweight” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Mastercard from $510.00 to $580.00 and gave the stock a “buy” rating in a report on Friday, November 1st. TD Cowen upped their target price on shares of Mastercard from $532.00 to $533.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Robert W. Baird increased their price target on shares of Mastercard from $545.00 to $575.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Susquehanna lifted their price objective on Mastercard from $540.00 to $605.00 and gave the company a “positive” rating in a report on Friday, November 1st. Four analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $547.80.

Insider Buying and Selling at Mastercard

In other news, CMO Venkata R. Madabhushi sold 4,685 shares of the business’s stock in a transaction dated 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 transaction, the chief marketing officer now directly owns 17,118 shares in the company, valued at $8,440,885.80. The trade was a 21.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Foundation Mastercard sold 90,000 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $468.80, for a total transaction of $42,192,000.00. Following the completion of the sale, the insider now owns 91,649,308 shares of the company’s stock, valued at $42,965,195,590.40. This trade represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 208,370 shares of company stock worth $97,749,218. Insiders own 0.10% of the company’s stock.

Mastercard 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.