Cherrydale Wealth Management LLC Reduces Holdings in Mastercard Incorporated (NYSE:MA)

Cherrydale Wealth Management LLC trimmed its holdings in shares of Mastercard Incorporated (NYSE:MA) by 4.4% in the third quarter, HoldingsChannel reports. The firm owned 766 shares of the credit services provider’s stock after selling 35 shares during the period. Cherrydale Wealth Management LLC’s holdings in Mastercard were worth $378,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. McLean Asset Management Corp grew its stake in shares of Mastercard by 1.3% during the 3rd quarter. McLean Asset Management Corp now owns 1,677 shares of the credit services provider’s stock valued at $834,000 after buying an additional 21 shares during the period. Hoxton Planning & Management LLC lifted its holdings in shares of Mastercard by 1.4% during the 1st quarter. Hoxton Planning & Management LLC now owns 1,637 shares of the credit services provider’s stock valued at $788,000 after acquiring an additional 22 shares in the last quarter. Quilter Plc lifted its holdings in shares of Mastercard by 2.8% during the 2nd quarter. Quilter Plc now owns 801 shares of the credit services provider’s stock valued at $353,000 after acquiring an additional 22 shares in the last quarter. Benin Management CORP lifted its holdings in shares of Mastercard by 3.0% during the 1st quarter. Benin Management CORP now owns 794 shares of the credit services provider’s stock valued at $382,000 after acquiring an additional 23 shares in the last quarter. Finally, Atticus Wealth Management LLC lifted its holdings in shares of Mastercard by 1.3% during the 1st quarter. Atticus Wealth Management LLC now owns 1,734 shares of the credit services provider’s stock valued at $835,000 after acquiring an additional 23 shares in the last quarter. 97.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MA has been the topic of several recent research reports. BNP Paribas lowered shares of Mastercard from an “outperform” rating to a “neutral” rating and set a $470.00 target price on the stock. in a report on Tuesday, September 3rd. Evercore ISI cut their price objective on shares of Mastercard from $540.00 to $525.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Royal Bank of Canada boosted their price objective on shares of Mastercard from $500.00 to $526.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. TD Cowen boosted their price objective on shares of Mastercard from $532.00 to $533.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Citigroup boosted their price objective on shares of Mastercard from $528.00 to $538.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $523.27.

Insiders Place Their Bets

In related news, CMO Venkata R. Madabhushi sold 4,685 shares of Mastercard 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 completion of the transaction, the chief marketing officer now directly owns 17,118 shares of the company’s stock, valued at $8,440,885.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CMO Venkata R. Madabhushi sold 4,685 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief marketing officer now directly 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO J. Mehra Sachin sold 13,439 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $455.00, for a total transaction of $6,114,745.00. Following the sale, the chief financial officer now directly owns 27,304 shares of the company’s stock, valued at approximately $12,423,320. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 340,809 shares of company stock worth $159,610,703 in the last ninety days. Insiders own 0.10% of the company’s stock.

Mastercard Trading Up 0.4 %

Mastercard stock traded up $2.01 during midday trading on Monday, reaching $504.27. The stock had a trading volume of 244,911 shares, compared to its average volume of 2,428,823. The firm’s fifty day simple moving average is $480.78 and its two-hundred day simple moving average is $462.88. Mastercard Incorporated has a twelve month low of $359.77 and a twelve month high of $505.68. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market cap of $468.78 billion, a price-to-earnings ratio of 39.93, a PEG ratio of 2.22 and a beta of 1.10.

Mastercard (NYSE:MA) last released its earnings results on Wednesday, July 31st. The credit services provider reported $3.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.51 by $0.08. The company had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.85 billion. Mastercard had a net margin of 46.45% and a return on equity of 179.78%. Equities analysts anticipate that Mastercard Incorporated will post 14.3 EPS for the current fiscal year.

Mastercard Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Wednesday, October 9th will be issued a $0.66 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $2.64 annualized dividend and a yield of 0.52%. Mastercard’s dividend payout ratio (DPR) is presently 20.99%.

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.