Envestnet Portfolio Solutions Inc. Increases Holdings in Mastercard Incorporated (NYSE:MA)

Envestnet Portfolio Solutions Inc. increased its stake in shares of Mastercard Incorporated (NYSE:MA) by 1.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,810 shares of the credit services provider’s stock after purchasing an additional 1,467 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Mastercard were worth $38,738,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Cross Staff Investments Inc raised its position in shares of Mastercard by 16.3% during the 4th quarter. Cross Staff Investments Inc now owns 3,148 shares of the credit services provider’s stock worth $1,343,000 after purchasing an additional 441 shares during the last quarter. J.Safra Asset Management Corp raised its holdings in Mastercard by 7.2% in the 4th quarter. J.Safra Asset Management Corp now owns 490 shares of the credit services provider’s stock valued at $209,000 after acquiring an additional 33 shares during the last quarter. Intech Investment Management LLC raised its holdings in Mastercard by 15.6% in the 4th quarter. Intech Investment Management LLC now owns 24,452 shares of the credit services provider’s stock valued at $10,429,000 after acquiring an additional 3,306 shares during the last quarter. Lindbrook Capital LLC raised its holdings in Mastercard by 13.8% in the 4th quarter. Lindbrook Capital LLC now owns 4,832 shares of the credit services provider’s stock valued at $2,061,000 after acquiring an additional 585 shares during the last quarter. Finally, Meritage Portfolio Management raised its holdings in Mastercard by 8.4% in the 4th quarter. Meritage Portfolio Management now owns 40,951 shares of the credit services provider’s stock valued at $17,466,000 after acquiring an additional 3,172 shares during the last quarter. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Mastercard Stock Performance

Shares of NYSE:MA traded up $0.80 during trading hours on Wednesday, hitting $460.16. The stock had a trading volume of 1,449,157 shares, compared to its average volume of 2,496,000. The stock’s fifty day simple moving average is $447.79 and its 200 day simple moving average is $457.81. Mastercard Incorporated has a 1-year low of $359.77 and a 1-year high of $490.00. The firm has a market capitalization of $427.77 billion, a price-to-earnings ratio of 36.58, a PEG ratio of 1.82 and a beta of 1.09. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.09 and a current ratio of 1.14.

Mastercard Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Tuesday, July 9th were paid a $0.66 dividend. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $2.64 annualized dividend and a dividend yield of 0.57%. Mastercard’s payout ratio is currently 20.99%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MA. Argus upgraded Mastercard to a “strong-buy” rating in a report on Thursday, August 1st. Morgan Stanley cut their price target on Mastercard from $536.00 to $524.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Evercore ISI cut their price target on Mastercard from $540.00 to $525.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Susquehanna upped their price objective on Mastercard from $535.00 to $540.00 and gave the stock a “positive” rating in a report on Thursday, August 1st. Finally, Citigroup upped their price objective on Mastercard from $528.00 to $538.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, Mastercard presently has an average rating of “Buy” and a consensus target price of $508.91.

Insider Buying and Selling at Mastercard

In other Mastercard news, insider Craig Vosburg sold 9,028 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $447.28, for a total value of $4,038,043.84. Following the sale, the insider now owns 58,940 shares in the company, valued at $26,362,683.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Mastercard news, insider Craig Vosburg sold 9,028 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $447.28, for a total value of $4,038,043.84. Following the sale, the insider now owns 58,940 shares in the company, valued at $26,362,683.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Hai Ling sold 2,892 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $460.00, for a total transaction of $1,330,320.00. Following the completion of the transaction, the insider now owns 21,420 shares of the company’s stock, valued at $9,853,200. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,752,067 shares of company stock worth $787,874,156. 0.10% of the stock is owned by company insiders.

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.