SteelPeak Wealth LLC Sells 733 Shares of Mastercard Incorporated $MA

SteelPeak Wealth LLC trimmed its holdings in shares of Mastercard Incorporated (NYSE:MA) by 14.5% in the 2nd quarter, Holdings Channel reports. The firm owned 4,318 shares of the credit services provider’s stock after selling 733 shares during the quarter. SteelPeak Wealth LLC’s holdings in Mastercard were worth $2,426,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in MA. Family Legacy Financial Solutions LLC bought a new stake in shares of Mastercard in the second quarter valued at about $26,000. Flaharty Asset Management LLC bought a new stake in shares of Mastercard in the first quarter valued at about $27,000. Keystone Global Partners LLC bought a new stake in shares of Mastercard in the first quarter valued at about $31,000. Hughes Financial Services LLC bought a new stake in shares of Mastercard in the first quarter valued at about $34,000. Finally, 1 North Wealth Services LLC bought a new stake in shares of Mastercard in the first quarter valued at about $44,000. 97.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on MA shares. TD Cowen restated a “buy” rating and issued a $645.00 price objective on shares of Mastercard in a report on Monday, August 11th. The Goldman Sachs Group restated a “buy” rating on shares of Mastercard in a report on Friday, August 1st. Morgan Stanley lifted their target price on Mastercard from $639.00 to $661.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Seaport Res Ptn upgraded Mastercard from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 14th. Finally, Truist Financial cut their target price on Mastercard from $640.00 to $612.00 and set a “buy” rating on the stock in a research note on Thursday, July 17th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $634.04.

Insider Buying and Selling

In related news, CFO J. Mehra Sachin sold 17,263 shares of Mastercard stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $591.00, for a total value of $10,202,433.00. Following the completion of the sale, the chief financial officer directly owned 31,234 shares in the company, valued at $18,459,294. This trade represents a 35.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is owned by company insiders.

Mastercard Stock Performance

MA opened at $579.24 on Wednesday. The company has a market cap of $523.64 billion, a P/E ratio of 39.06, a price-to-earnings-growth ratio of 2.37 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. The firm’s 50-day moving average price is $580.78 and its 200-day moving average price is $562.45. Mastercard Incorporated has a 52-week low of $465.59 and a 52-week high of $601.77.

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

Mastercard Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Thursday, October 9th will be paid a $0.76 dividend. The ex-dividend date is Thursday, October 9th. This represents a $3.04 dividend on an annualized basis and a yield of 0.5%. Mastercard’s dividend payout ratio (DPR) is 20.50%.

Mastercard 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.