Forte Capital LLC ADV Has $22.78 Million Stock Holdings in Mastercard Incorporated (NYSE:MA)

Forte Capital LLC ADV lessened its position in shares of Mastercard Incorporated (NYSE:MA) by 2.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,123 shares of the credit services provider’s stock after selling 1,379 shares during the quarter. Mastercard comprises 2.6% of Forte Capital LLC ADV’s holdings, making the stock its 9th biggest position. Forte Capital LLC ADV’s holdings in Mastercard were worth $22,776,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of MA. Goldstein Advisors LLC increased its stake in Mastercard by 1.3% during the third quarter. Goldstein Advisors LLC now owns 1,516 shares of the credit services provider’s stock valued at $749,000 after acquiring an additional 20 shares during the period. McLean Asset Management Corp increased its stake in Mastercard by 1.3% during the third quarter. McLean Asset Management Corp now owns 1,677 shares of the credit services provider’s stock valued at $834,000 after acquiring an additional 21 shares during the period. Oldfather Financial Services LLC increased its stake in Mastercard by 2.6% during the third quarter. Oldfather Financial Services LLC now owns 827 shares of the credit services provider’s stock valued at $408,000 after acquiring an additional 21 shares during the period. Quilter Plc increased its stake in Mastercard by 2.8% during the second quarter. Quilter Plc now owns 801 shares of the credit services provider’s stock valued at $353,000 after acquiring an additional 22 shares during the period. Finally, Cornerstone Wealth Management LLC increased its stake in Mastercard by 0.5% during the third quarter. Cornerstone Wealth Management LLC now owns 4,351 shares of the credit services provider’s stock valued at $2,148,000 after acquiring an additional 22 shares during the period. Institutional investors own 97.28% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. KeyCorp upped their price objective on Mastercard from $515.00 to $580.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Barclays upped their price objective on Mastercard from $536.00 to $576.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Morgan Stanley upped their price objective on Mastercard from $540.00 to $544.00 and gave the company an “overweight” rating in a research note on Monday. Piper Sandler reiterated an “overweight” rating and issued a $565.00 price objective (up from $536.00) on shares of Mastercard in a research note on Friday, November 1st. Finally, Macquarie upped their price objective on Mastercard from $505.00 to $565.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $540.17.

Mastercard Trading Up 3.1 %

Shares of NYSE:MA opened at $521.13 on Thursday. Mastercard Incorporated has a 52-week low of $384.30 and a 52-week high of $527.90. The company has a market capitalization of $481.44 billion, a P/E ratio of 39.42, a price-to-earnings-growth ratio of 2.21 and a beta of 1.10. The company has a 50-day simple moving average of $498.11 and a 200 day simple moving average of $468.02. The company has a debt-to-equity ratio of 2.36, a quick ratio of 1.29 and a current ratio of 1.29.

Mastercard (NYSE:MA) last issued its quarterly earnings data on Thursday, October 31st. The credit services provider reported $3.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.73 by $0.16. The firm had revenue of $7.37 billion during the quarter, compared to the consensus estimate of $7.27 billion. Mastercard had a net margin of 45.26% and a return on equity of 178.27%. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period last year, the business posted $3.39 earnings per share. Sell-side analysts forecast that Mastercard Incorporated will post 14.45 earnings per share for the current year.

Mastercard Dividend Announcement

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

Insider Buying and Selling

In related news, CMO Venkata R. Madabhushi sold 4,685 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $493.10, for a total value of $2,310,173.50. Following the sale, the chief marketing officer now 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CMO Venkata R. Madabhushi sold 4,685 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $493.10, for a total value of $2,310,173.50. Following the transaction, the chief marketing officer now owns 17,118 shares in the company, 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 Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Foundation Mastercard sold 90,000 shares of the business’s stock in a transaction on 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 transaction, the insider now owns 91,649,308 shares in the company, valued at approximately $42,965,195,590.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 327,370 shares of company stock valued at $153,495,958 over the last 90 days. 0.10% of the stock is owned by insiders.

About Mastercard

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.