Harvey Investment Co. LLC Purchases 575 Shares of Mastercard Incorporated (NYSE:MA)

Harvey Investment Co. LLC boosted its position in Mastercard Incorporated (NYSE:MA) by 1.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 44,686 shares of the credit services provider’s stock after purchasing an additional 575 shares during the quarter. Mastercard makes up 2.5% of Harvey Investment Co. LLC’s portfolio, making the stock its 15th biggest position. Harvey Investment Co. LLC’s holdings in Mastercard were worth $22,066,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MA. First Trust Direct Indexing L.P. increased its position in Mastercard by 14.2% during the 1st quarter. First Trust Direct Indexing L.P. now owns 20,552 shares of the credit services provider’s stock valued at $9,897,000 after buying an additional 2,556 shares in the last quarter. Coppell Advisory Solutions Corp. bought a new position in shares of Mastercard during the first quarter valued at $608,000. SteelPeak Wealth LLC raised its position in shares of Mastercard by 48.6% in the 2nd quarter. SteelPeak Wealth LLC now owns 4,928 shares of the credit services provider’s stock worth $2,174,000 after purchasing an additional 1,612 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Mastercard in the 1st quarter worth about $2,938,000. Finally, OMC Financial Services LTD purchased a new stake in Mastercard during the 1st quarter valued at about $17,854,000. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Piper Sandler lifted their target price on shares of Mastercard from $531.00 to $536.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. 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. Barclays increased their target price on Mastercard from $536.00 to $576.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. BNP Paribas cut Mastercard from an “outperform” rating to a “neutral” rating and set a $470.00 price target for the company. in a research note on Tuesday, September 3rd. Finally, Royal Bank of Canada increased their price objective on Mastercard from $500.00 to $526.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Four analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $525.68.

Mastercard Price Performance

NYSE MA opened at $511.96 on Thursday. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.14 and a current ratio of 1.14. The business’s fifty day moving average is $490.23 and its 200 day moving average is $464.93. The company has a market capitalization of $475.93 billion, a PE ratio of 40.84, a price-to-earnings-growth ratio of 2.22 and a beta of 1.10. Mastercard Incorporated has a fifty-two week low of $359.77 and a fifty-two week high of $518.82.

Mastercard (NYSE:MA) last posted its quarterly earnings data on Wednesday, July 31st. The credit services provider reported $3.59 earnings per share for the quarter, beating analysts’ consensus estimates of $3.51 by $0.08. Mastercard had a return on equity of 179.78% and a net margin of 46.45%. The firm had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $6.85 billion. Sell-side analysts predict that Mastercard Incorporated will post 14.3 earnings per share for the current year.

Mastercard Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Wednesday, October 9th will be issued a dividend of $0.66 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $2.64 dividend on an annualized basis and a yield of 0.52%. Mastercard’s dividend payout ratio is presently 20.99%.

Insider Buying and Selling

In other Mastercard news, CMO Venkata R. Madabhushi sold 4,685 shares of the stock in a transaction dated 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 completion of the transaction, the chief marketing officer now owns 15,031 shares of the company’s stock, valued at $7,363,085.66. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Foundation Mastercard sold 90,000 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $468.80, for a total value of $42,192,000.00. Following the completion of the transaction, the insider now owns 91,649,308 shares of the company’s stock, valued at approximately $42,965,195,590.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Venkata R. Madabhushi sold 4,685 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $489.86, for a total value of $2,294,994.10. Following the sale, the chief marketing officer now directly owns 15,031 shares in the company, valued at $7,363,085.66. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 340,809 shares of company stock valued at $159,610,703. Corporate 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.