Bingham Private Wealth LLC Acquires 50 Shares of Mastercard Incorporated $MA

Bingham Private Wealth LLC boosted its holdings in shares of Mastercard Incorporated (NYSE:MA) by 2.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,278 shares of the credit services provider’s stock after buying an additional 50 shares during the quarter. Mastercard makes up approximately 1.2% of Bingham Private Wealth LLC’s investment portfolio, making the stock its 23rd largest position. Bingham Private Wealth LLC’s holdings in Mastercard were worth $1,280,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Family Legacy Financial Solutions LLC acquired a new stake in Mastercard during the 2nd quarter valued at $26,000. Flaharty Asset Management LLC acquired a new stake in shares of Mastercard during the 1st quarter worth about $27,000. Keystone Global Partners LLC bought a new stake in shares of Mastercard during the 1st quarter worth about $31,000. Hughes Financial Services LLC acquired a new position in Mastercard in the 1st quarter valued at about $34,000. Finally, 1 North Wealth Services LLC bought a new position in Mastercard in the 1st quarter valued at about $44,000. 97.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MA. Wells Fargo & Company boosted their price objective on Mastercard from $625.00 to $650.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Morgan Stanley boosted their price target on Mastercard from $639.00 to $661.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Robert W. Baird increased their price objective on Mastercard from $640.00 to $660.00 and gave the stock an “outperform” rating in a research report on Monday. Truist Financial dropped their target price on Mastercard from $640.00 to $612.00 and set a “buy” rating for the company in a report on Thursday, July 17th. Finally, Wall Street Zen downgraded shares of Mastercard from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Mastercard has an average rating of “Buy” and an average target price of $634.04.

Mastercard Trading Down 0.3%

MA opened at $578.91 on Tuesday. The stock has a market capitalization of $523.34 billion, a price-to-earnings ratio of 39.04, a P/E/G ratio of 2.38 and a beta of 0.97. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 2.41. Mastercard Incorporated has a twelve month low of $465.59 and a twelve month high of $601.77. The company has a 50-day simple moving average of $580.46 and a 200 day simple moving average of $562.33.

Mastercard (NYSE:MA) last issued its earnings results on Thursday, July 31st. The credit services provider reported $4.15 EPS for the quarter, beating the consensus estimate of $4.05 by $0.10. Mastercard had a net margin of 44.93% and a return on equity of 200.01%. The company had revenue of $8.13 billion during the quarter, compared to analysts’ expectations of $7.95 billion. During the same period in the previous year, the company earned $3.50 EPS. The business’s revenue for the quarter was up 16.8% compared to the same quarter last year. Analysts predict that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Mastercard Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Thursday, October 9th will be paid a dividend of $0.76 per share. The ex-dividend date is Thursday, October 9th. This represents a $3.04 annualized dividend and a yield of 0.5%. Mastercard’s dividend payout ratio is presently 20.50%.

Insider Buying and Selling at Mastercard

In other news, CFO J. Mehra Sachin sold 17,263 shares of Mastercard stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $591.00, for a total value of $10,202,433.00. Following the transaction, the chief financial officer owned 31,234 shares in the company, valued at approximately $18,459,294. This trade represents a 35.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

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.