Independent Advisor Alliance Sells 1,665 Shares of Mastercard Incorporated (NYSE:MA)

Independent Advisor Alliance lessened its stake in Mastercard Incorporated (NYSE:MA) by 6.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,922 shares of the credit services provider’s stock after selling 1,665 shares during the quarter. Independent Advisor Alliance’s holdings in Mastercard were worth $12,801,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. International Assets Investment Management LLC lifted its holdings 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 worth $3,971,020,000 after acquiring an additional 8,035,099 shares during the period. Swedbank AB bought a new position in Mastercard during the first quarter valued at about $660,652,000. PineStone Asset Management Inc. raised its position in Mastercard by 145.6% in the second quarter. PineStone Asset Management Inc. now owns 1,777,468 shares of the credit services provider’s stock worth $784,148,000 after acquiring an additional 1,053,616 shares during the period. Manning & Napier Advisors LLC purchased a new position in Mastercard in the second quarter valued at about $259,071,000. Finally, Montrusco Bolton Investments Inc. grew its position in shares of Mastercard by 52.8% during the 3rd quarter. Montrusco Bolton Investments Inc. now owns 1,185,081 shares of the credit services provider’s stock valued at $573,017,000 after acquiring an additional 409,334 shares during the period. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Insider Transactions at Mastercard

In other Mastercard news, CMO Venkata R. Madabhushi sold 4,685 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $489.86, for a total transaction of $2,294,994.10. Following the transaction, the chief marketing officer now owns 15,031 shares in the company, valued at $7,363,085.66. The trade was a 23.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MA. Argus upgraded Mastercard to a “strong-buy” rating in a research note on Thursday, August 1st. KeyCorp boosted their price target on shares of Mastercard from $515.00 to $580.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Piper Sandler reaffirmed an “overweight” rating and issued a $575.00 price objective (up from $565.00) on shares of Mastercard in a report on Friday, November 15th. Morgan Stanley boosted their target price on shares of Mastercard from $544.00 to $564.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Finally, Citigroup raised their price target on Mastercard from $566.00 to $572.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Four research 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 company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $549.16.

Mastercard Trading Up 1.1 %

MA stock opened at $520.86 on Monday. Mastercard Incorporated has a 1-year low of $404.32 and a 1-year high of $534.03. The business has a 50 day simple moving average of $506.91 and a two-hundred day simple moving average of $473.83. The company has a debt-to-equity ratio of 2.36, a current ratio of 1.29 and a quick ratio of 1.29. The company has a market capitalization of $478.06 billion, a price-to-earnings ratio of 39.40, a PEG ratio of 2.32 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 EPS for the quarter, topping the consensus estimate of $3.73 by $0.16. The business had revenue of $7.37 billion for the quarter, compared to analysts’ expectations of $7.27 billion. Mastercard had a net margin of 45.26% and a return on equity of 178.27%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.39 EPS. Research analysts anticipate that Mastercard Incorporated will post 14.47 EPS for the current fiscal year.

Mastercard Dividend Announcement

The firm also recently declared 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 0.51%. The ex-dividend date of this dividend was Wednesday, October 9th. Mastercard’s payout ratio is 19.97%.

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.