Strait & Sound Wealth Management LLC Has $1.85 Million Holdings in Mastercard Incorporated (NYSE:MA)

Strait & Sound Wealth Management LLC trimmed its stake in Mastercard Incorporated (NYSE:MA) by 10.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,754 shares of the credit services provider’s stock after selling 455 shares during the period. Mastercard comprises about 0.9% of Strait & Sound Wealth Management LLC’s investment portfolio, making the stock its 21st biggest position. Strait & Sound Wealth Management LLC’s holdings in Mastercard were worth $1,854,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Temasek Holdings Private Ltd lifted its position in shares of Mastercard by 2.3% in the 3rd quarter. Temasek Holdings Private Ltd now owns 2,805,554 shares of the credit services provider’s stock worth $1,385,383,000 after acquiring an additional 62,891 shares during the period. Sarasin & Partners LLP boosted its stake in Mastercard by 4.7% during the third quarter. Sarasin & Partners LLP now owns 831,942 shares of the credit services provider’s stock worth $410,813,000 after buying an additional 37,486 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Mastercard by 4.8% in the 3rd quarter. Principal Financial Group Inc. now owns 3,031,915 shares of the credit services provider’s stock valued at $1,497,160,000 after buying an additional 138,842 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Mastercard by 2.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,010,430 shares of the credit services provider’s stock valued at $2,474,151,000 after buying an additional 100,550 shares in the last quarter. Finally, SteelPeak Wealth LLC boosted its position in shares of Mastercard by 48.6% during the 2nd quarter. SteelPeak Wealth LLC now owns 4,928 shares of the credit services provider’s stock valued at $2,174,000 after acquiring an additional 1,612 shares in the last quarter. Institutional investors own 97.28% of the company’s stock.

Mastercard Stock Performance

MA opened at $522.82 on Tuesday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 2.36. The stock has a market cap of $479.86 billion, a price-to-earnings ratio of 39.55, a PEG ratio of 2.35 and a beta of 1.10. Mastercard Incorporated has a 12-month low of $411.60 and a 12-month high of $535.77. The business has a 50 day moving average of $514.42 and a 200-day moving average of $479.31.

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, beating the consensus estimate of $3.73 by $0.16. The firm had revenue of $7.37 billion for the quarter, compared to analysts’ expectations of $7.27 billion. Mastercard had a net margin of 45.26% and a return on equity of 178.27%. The business’s revenue was up 12.8% on a year-over-year basis. During the same period in the prior year, the firm earned $3.39 EPS. On average, equities research analysts expect that Mastercard Incorporated will post 14.47 earnings per share for the current year.

Mastercard Announces Dividend

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

Insider Activity at Mastercard

In other Mastercard news, CMO Venkata R. Madabhushi sold 4,685 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $489.86, for a total value of $2,294,994.10. Following the transaction, the chief marketing officer now directly owns 15,031 shares of the company’s stock, valued at $7,363,085.66. This trade represents a 23.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have commented on MA shares. BMO Capital Markets raised their price target on shares of Mastercard from $550.00 to $565.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Robert W. Baird increased their target price on Mastercard from $545.00 to $575.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Morgan Stanley upped their price objective on Mastercard from $544.00 to $564.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Royal Bank of Canada restated an “outperform” rating and set a $572.00 target price on shares of Mastercard in a report on Thursday, November 14th. Finally, Citigroup boosted their price target on shares of Mastercard from $566.00 to $572.00 and gave the company a “buy” rating in a report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $559.28.

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.