Principal Street Partners LLC Grows Stock Position in Mastercard Incorporated (NYSE:MA)

Principal Street Partners LLC boosted its position in shares of Mastercard Incorporated (NYSE:MA) by 12.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,601 shares of the credit services provider’s stock after buying an additional 398 shares during the quarter. Principal Street Partners LLC’s holdings in Mastercard were worth $1,669,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC boosted its stake in shares of Mastercard by 120,665.3% during the 3rd quarter. International Assets Investment Management LLC now owns 8,041,758 shares of the credit services provider’s stock worth $3,971,020,000 after purchasing an additional 8,035,099 shares during the period. Bank of Montreal Can lifted its stake in Mastercard by 51.7% in the third quarter. Bank of Montreal Can now owns 5,765,714 shares of the credit services provider’s stock worth $2,846,187,000 after purchasing an additional 1,965,782 shares during the last quarter. Swedbank AB bought a new stake in Mastercard in the first quarter worth about $660,652,000. PineStone Asset Management Inc. boosted its position in shares of Mastercard by 145.6% during the second quarter. PineStone Asset Management Inc. now owns 1,777,468 shares of the credit services provider’s stock valued at $784,148,000 after buying an additional 1,053,616 shares during the period. Finally, FMR LLC grew its stake in shares of Mastercard by 3.4% during the third quarter. FMR LLC now owns 21,355,081 shares of the credit services provider’s stock valued at $10,545,139,000 after buying an additional 700,769 shares during the last quarter. Institutional investors own 97.28% of the company’s stock.

Mastercard Trading Up 1.1 %

NYSE:MA opened at $526.60 on Tuesday. The stock has a market capitalization of $483.33 billion, a price-to-earnings ratio of 39.83, a PEG ratio of 2.32 and a beta of 1.10. Mastercard Incorporated has a 52 week low of $404.32 and a 52 week high of $534.03. 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 firm has a 50 day moving average of $507.49 and a 200 day moving average of $474.33.

Mastercard (NYSE:MA) last issued its quarterly earnings data on Thursday, October 31st. The credit services provider reported $3.89 EPS for the quarter, beating the consensus estimate of $3.73 by $0.16. Mastercard had a return on equity of 178.27% and a net margin of 45.26%. The firm had revenue of $7.37 billion during the quarter, compared to analyst estimates of $7.27 billion. During the same quarter in the prior year, the business posted $3.39 EPS. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Mastercard Incorporated will post 14.47 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

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

Insider Activity

In other Mastercard news, CMO Venkata R. Madabhushi sold 4,685 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $489.86, for a total transaction of $2,294,994.10. Following the sale, the chief marketing officer now owns 15,031 shares in the company, valued at approximately $7,363,085.66. The trade was a 23.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MA. KeyCorp boosted their price objective on Mastercard from $515.00 to $580.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Susquehanna boosted their target price on shares of Mastercard from $540.00 to $605.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Piper Sandler reaffirmed an “overweight” rating and issued a $575.00 price target (up previously from $565.00) on shares of Mastercard in a research note on Friday, November 15th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Mastercard from $510.00 to $580.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Mizuho raised their target price on shares of Mastercard from $496.00 to $532.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Mastercard currently has an average rating of “Moderate Buy” and a consensus price target of $549.16.

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.