Canvas Wealth Advisors LLC Buys 38 Shares of Mastercard Incorporated $MA

Canvas Wealth Advisors LLC grew its stake in Mastercard Incorporated (NYSE:MA) by 2.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,666 shares of the credit services provider’s stock after acquiring an additional 38 shares during the quarter. Canvas Wealth Advisors LLC’s holdings in Mastercard were worth $947,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of MA. Vanguard Group Inc. boosted its position in shares of Mastercard by 0.5% during the first quarter. Vanguard Group Inc. now owns 77,544,675 shares of the credit services provider’s stock worth $42,503,787,000 after purchasing an additional 365,537 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in Mastercard during the 2nd quarter worth $11,421,213,000. Price T Rowe Associates Inc. MD grew its stake in Mastercard by 4.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,096,979 shares of the credit services provider’s stock valued at $11,015,557,000 after acquiring an additional 907,184 shares during the period. Wellington Management Group LLP grew its stake in Mastercard by 38.6% in the first quarter. Wellington Management Group LLP now owns 13,526,118 shares of the credit services provider’s stock valued at $7,413,936,000 after acquiring an additional 3,765,378 shares during the period. Finally, Nuveen LLC bought a new stake in shares of Mastercard in the first quarter worth about $4,238,764,000. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on MA shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Mastercard in a report on Wednesday, October 8th. Wells Fargo & Company upped their price target on shares of Mastercard from $625.00 to $650.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Wolfe Research set a $655.00 price objective on shares of Mastercard in a research report on Monday, June 23rd. Seaport Res Ptn raised shares of Mastercard from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 14th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Mastercard in a report on Thursday, July 17th. They set a “buy” rating and a $650.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $634.04.

Mastercard Stock Performance

Shares of MA opened at $561.42 on Monday. The stock has a market capitalization of $507.53 billion, a price-to-earnings ratio of 37.86, a PEG ratio of 2.30 and a beta of 0.97. Mastercard Incorporated has a 12 month low of $465.59 and a 12 month high of $601.77. The firm has a fifty day simple moving average of $580.22 and a 200 day simple moving average of $563.50. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 2.41.

Mastercard (NYSE:MA) last issued its quarterly earnings results on Thursday, July 31st. The credit services provider reported $4.15 earnings per share (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 firm had revenue of $8.13 billion for the quarter, compared to analyst estimates of $7.95 billion. During the same period in the previous year, the business earned $3.50 EPS. The company’s revenue was up 16.8% compared to the same quarter last year. Research analysts forecast that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Mastercard Announces Dividend

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

Insider Buying and Selling

In other Mastercard news, CFO J. Mehra Sachin sold 17,816 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $586.89, for a total value of $10,456,032.24. Following the completion of the transaction, the chief financial officer directly owned 31,234 shares in the company, valued at $18,330,922.26. This trade represents a 36.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.09% of the company’s stock.

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.