Summit X LLC trimmed its position in Mastercard Inc (NYSE:MA) by 9.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 11,823 shares of the credit services provider’s stock after selling 1,306 shares during the quarter. Mastercard comprises approximately 1.3% of Summit X LLC’s portfolio, making the stock its 21st largest holding. Summit X LLC’s holdings in Mastercard were worth $2,625,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of the stock. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in Mastercard in the second quarter valued at approximately $109,000. Fort L.P. bought a new position in shares of Mastercard in the second quarter worth $120,000. Carroll Financial Associates Inc. increased its holdings in shares of Mastercard by 87.2% in the second quarter. Carroll Financial Associates Inc. now owns 644 shares of the credit services provider’s stock worth $126,000 after purchasing an additional 300 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of Mastercard in the second quarter worth $131,000. Finally, Bogart Wealth LLC increased its holdings in shares of Mastercard by 434.7% in the third quarter. Bogart Wealth LLC now owns 663 shares of the credit services provider’s stock worth $148,000 after purchasing an additional 539 shares during the period. 74.43% of the stock is owned by institutional investors and hedge funds.
In related news, Director Richard K. Davis acquired 2,475 shares of Mastercard stock in a transaction dated Friday, November 2nd. The shares were purchased at an average cost of $196.37 per share, with a total value of $486,015.75. Following the completion of the purchase, the director now owns 3,468 shares of the company’s stock, valued at $681,011.16. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.32% of the stock is currently owned by company insiders.
Several research analysts have recently weighed in on MA shares. SunTrust Banks upped their price target on shares of Mastercard to $240.00 and gave the stock a “buy” rating in a report on Friday, July 27th. They noted that the move was a valuation call. Credit Suisse Group upped their price target on shares of Mastercard from $210.00 to $224.00 and gave the stock an “outperform” rating in a report on Monday, October 8th. Wolfe Research started coverage on shares of Mastercard in a report on Tuesday, July 17th. They issued an “outperform” rating on the stock. Loop Capital set a $232.00 price target on shares of Mastercard and gave the stock a “buy” rating in a report on Wednesday, October 31st. Finally, BMO Capital Markets upped their price target on shares of Mastercard from $238.00 to $248.00 and gave the stock an “outperform” rating in a report on Thursday, November 1st. Three analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the company. Mastercard has a consensus rating of “Buy” and an average price target of $219.24.
MA opened at $199.15 on Wednesday. The firm has a market capitalization of $205.32 billion, a P/E ratio of 43.48, a PEG ratio of 1.69 and a beta of 1.22. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.01. Mastercard Inc has a 52 week low of $140.61 and a 52 week high of $225.35.
Mastercard (NYSE:MA) last released its earnings results on Tuesday, October 30th. The credit services provider reported $1.78 EPS for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.10. The business had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $3.86 billion. Mastercard had a return on equity of 114.58% and a net margin of 35.88%. The firm’s revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.34 earnings per share. As a group, sell-side analysts anticipate that Mastercard Inc will post 6.43 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 9th. Stockholders of record on Tuesday, October 9th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, October 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.50%. Mastercard’s dividend payout ratio (DPR) is currently 21.83%.
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Mastercard Company Profile
Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers related products and services.
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