Wallace Capital Management Inc. Decreases Stake in Mastercard Incorporated (NYSE:MA)

Wallace Capital Management Inc. decreased its holdings in shares of Mastercard Incorporated (NYSE:MA) by 0.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,528 shares of the credit services provider’s stock after selling 22 shares during the quarter. Wallace Capital Management Inc.’s holdings in Mastercard were worth $1,248,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in MA. Temasek Holdings Private Ltd lifted its stake in Mastercard by 2.3% in the third quarter. Temasek Holdings Private Ltd now owns 2,805,554 shares of the credit services provider’s stock valued at $1,385,383,000 after buying an additional 62,891 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc grew its holdings in Mastercard by 3.2% during the third quarter. Texas Capital Bank Wealth Management Services Inc now owns 19,020 shares of the credit services provider’s stock worth $9,392,000 after acquiring an additional 588 shares during the period. Sora Investors LLC grew its holdings in Mastercard by 40.0% during the third quarter. Sora Investors LLC now owns 35,000 shares of the credit services provider’s stock worth $17,283,000 after acquiring an additional 10,000 shares during the period. State Street Corp grew its holdings in Mastercard by 0.7% during the third quarter. State Street Corp now owns 35,288,912 shares of the credit services provider’s stock worth $17,425,665,000 after acquiring an additional 257,312 shares during the period. Finally, Stifel Financial Corp grew its holdings in Mastercard by 3.5% in the third quarter. Stifel Financial Corp now owns 676,801 shares of the credit services provider’s stock valued at $334,237,000 after purchasing an additional 22,915 shares during the last quarter. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Insider Buying and Selling at Mastercard

In other news, CMO Venkata R. Madabhushi sold 4,685 shares of the firm’s stock in a transaction 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 sale, the chief marketing officer now owns 17,118 shares in the company, valued at approximately $8,440,885.80. This trade represents a 21.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.10% of the company’s stock.

Mastercard Price Performance

Mastercard stock opened at $524.91 on Friday. The stock has a fifty day moving average of $513.14 and a 200-day moving average of $478.04. The stock has a market capitalization of $481.78 billion, a P/E ratio of 39.71, a price-to-earnings-growth ratio of 2.34 and a beta of 1.10. 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 Incorporated has a 52 week low of $407.15 and a 52 week high of $535.77.

Mastercard (NYSE:MA) last released its quarterly earnings results 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. The company had revenue of $7.37 billion for the quarter, compared to analysts’ expectations of $7.27 billion. Mastercard had a return on equity of 178.27% and a net margin of 45.26%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period in the previous year, the business posted $3.39 earnings per share. On average, sell-side analysts expect that Mastercard Incorporated will post 14.47 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Mizuho upped their target price on Mastercard from $496.00 to $532.00 and gave the company an “outperform” rating in a report on Friday, November 1st. BNP Paribas downgraded Mastercard from an “outperform” rating to a “neutral” rating and set a $470.00 target price on the stock. in a research report on Tuesday, September 3rd. KeyCorp increased their target price on Mastercard from $515.00 to $580.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Bank of America raised their price target on shares of Mastercard from $480.00 to $509.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. Finally, Robert W. Baird raised their price target on shares of Mastercard from $545.00 to $575.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $549.16.

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.