Mastercard Incorporated (NYSE:MA) Shares Bought by Elite Wealth Management Inc.

Elite Wealth Management Inc. grew its holdings in shares of Mastercard Incorporated (NYSE:MA) by 1.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,976 shares of the credit services provider’s stock after purchasing an additional 157 shares during the period. Mastercard accounts for 0.9% of Elite Wealth Management Inc.’s portfolio, making the stock its 11th biggest position. Elite Wealth Management Inc.’s holdings in Mastercard were worth $6,901,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MA. International Assets Investment Management LLC grew its position in shares of 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 last quarter. Bank of Montreal Can grew its position in Mastercard by 51.7% in the 3rd quarter. Bank of Montreal Can now owns 5,765,714 shares of the credit services provider’s stock valued at $2,846,187,000 after buying an additional 1,965,782 shares in the last quarter. PineStone Asset Management Inc. grew its position in Mastercard by 145.6% in the 2nd quarter. PineStone Asset Management Inc. now owns 1,777,468 shares of the credit services provider’s stock valued at $784,148,000 after buying an additional 1,053,616 shares in the last quarter. FMR LLC grew its position in Mastercard by 3.4% in the 3rd quarter. FMR LLC now owns 21,355,081 shares of the credit services provider’s stock valued at $10,545,139,000 after buying an additional 700,769 shares in the last quarter. Finally, Manning & Napier Advisors LLC bought a new position in Mastercard in the 2nd quarter valued at about $259,071,000. Institutional investors own 97.28% of the company’s stock.

Mastercard Price Performance

Shares of NYSE:MA opened at $532.19 on Thursday. Mastercard Incorporated has a 1-year low of $404.32 and a 1-year high of $534.03. The firm has a market capitalization of $488.46 billion, a PE ratio of 40.26, a PEG ratio of 2.34 and a beta of 1.10. The business’s 50 day moving average is $508.78 and its 200-day moving average is $475.23. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 2.36.

Mastercard (NYSE:MA) last announced its quarterly earnings data on Thursday, October 31st. The credit services provider reported $3.89 earnings per share for the quarter, topping the consensus estimate of $3.73 by $0.16. Mastercard had a return on equity of 178.27% and a net margin of 45.26%. The company had revenue of $7.37 billion for the quarter, compared to analyst estimates of $7.27 billion. During the same quarter last year, the firm earned $3.39 EPS. Mastercard’s revenue for the quarter was up 12.8% compared to the same quarter last year. Sell-side analysts predict that Mastercard Incorporated will post 14.47 earnings per share for the current year.

Mastercard Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Wednesday, October 9th were paid a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Wednesday, October 9th. Mastercard’s dividend payout ratio is 19.97%.

Insider Activity at Mastercard

In related news, CMO Venkata R. Madabhushi sold 4,685 shares of the business’s stock in a transaction 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 owns 15,031 shares of the company’s stock, valued at $7,363,085.66. The trade was a 23.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. BNP Paribas lowered shares of Mastercard from an “outperform” rating to a “neutral” rating and set a $470.00 target price for the company. in a research report on Tuesday, September 3rd. Piper Sandler restated an “overweight” rating and set a $575.00 price objective (up previously from $565.00) on shares of Mastercard in a research report on Friday, November 15th. Robert W. Baird raised their price objective on shares of Mastercard from $545.00 to $575.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. TD Cowen raised their price objective on shares of Mastercard from $533.00 to $567.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, UBS Group raised their price objective on shares of Mastercard from $590.00 to $610.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Four equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $549.16.

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.