Oliver Luxxe Assets LLC acquired a new stake in shares of Mastercard Inc (NYSE:MA) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,055 shares of the credit services provider’s stock, valued at approximately $283,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Joseph P. Lucia & Associates LLC acquired a new position in Mastercard during the second quarter worth about $26,000. Ellevest Inc. grew its holdings in Mastercard by 52.8% during the second quarter. Ellevest Inc. now owns 110 shares of the credit services provider’s stock worth $29,000 after acquiring an additional 38 shares during the period. Evolution Wealth Advisors LLC acquired a new position in Mastercard during the second quarter worth about $31,000. Delphi Private Advisors LLC acquired a new position in Mastercard during the second quarter worth about $31,000. Finally, Princeton Global Asset Management LLC acquired a new position in Mastercard during the second quarter worth about $33,000. Institutional investors and hedge funds own 74.32% of the company’s stock.
MA has been the topic of a number of research analyst reports. BMO Capital Markets set a $328.00 target price on Mastercard and gave the stock a “buy” rating in a report on Wednesday, July 31st. William Blair reaffirmed an “outperform” rating on shares of Mastercard in a report on Friday, September 13th. Goldman Sachs Group reaffirmed a “buy” rating on shares of Mastercard in a report on Tuesday, September 3rd. Royal Bank of Canada set a $315.00 target price on Mastercard and gave the stock a “buy” rating in a report on Wednesday, August 7th. Finally, Nomura lifted their target price on Mastercard from $282.00 to $324.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $299.09.
Mastercard (NYSE:MA) last issued its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.82 by $0.07. Mastercard had a return on equity of 135.02% and a net margin of 42.71%. The firm had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter last year, the business posted $1.66 EPS. Mastercard’s revenue was up 12.2% on a year-over-year basis. On average, sell-side analysts expect that Mastercard Inc will post 7.61 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Wednesday, October 9th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, October 8th. This represents a $1.32 annualized dividend and a yield of 0.47%. Mastercard’s dividend payout ratio (DPR) is presently 20.34%.
In other Mastercard news, Director Lance Darrell Gordon Uggla bought 1,500 shares of the stock in a transaction on Thursday, August 1st. The shares were bought at an average price of $275.71 per share, with a total value of $413,565.00. Following the purchase, the director now directly owns 3,691 shares in the company, valued at approximately $1,017,645.61. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael Miebach sold 2,770 shares of Mastercard stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $285.00, for a total value of $789,450.00. Following the transaction, the insider now directly owns 12,778 shares in the company, valued at approximately $3,641,730. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 132,193 shares of company stock worth $36,316,018. Company insiders own 3.70% of the company’s stock.
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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