Summit Wealth & Retirement Planning Inc. Invests $619,000 in Mastercard Incorporated $MA

Summit Wealth & Retirement Planning Inc. acquired a new stake in Mastercard Incorporated (NYSE:MA) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,102 shares of the credit services provider’s stock, valued at approximately $619,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quadrant Private Wealth Management LLC lifted its position in Mastercard by 11.1% in the second quarter. Quadrant Private Wealth Management LLC now owns 592 shares of the credit services provider’s stock worth $333,000 after purchasing an additional 59 shares during the period. Rialto Wealth Management LLC increased its position in shares of Mastercard by 13.0% during the 2nd quarter. Rialto Wealth Management LLC now owns 156 shares of the credit services provider’s stock valued at $88,000 after purchasing an additional 18 shares during the period. Wedbush Securities Inc. raised its stake in shares of Mastercard by 2.9% in the 2nd quarter. Wedbush Securities Inc. now owns 25,851 shares of the credit services provider’s stock worth $14,527,000 after buying an additional 733 shares in the last quarter. Vestmark Advisory Solutions Inc. lifted its holdings in shares of Mastercard by 107.8% in the second quarter. Vestmark Advisory Solutions Inc. now owns 14,814 shares of the credit services provider’s stock valued at $8,325,000 after buying an additional 7,684 shares during the period. Finally, Aspect Partners LLC lifted its holdings in shares of Mastercard by 26.4% in the second quarter. Aspect Partners LLC now owns 115 shares of the credit services provider’s stock valued at $65,000 after buying an additional 24 shares during the period. Institutional investors own 97.28% of the company’s stock.

Mastercard Trading Down 0.2%

NYSE MA opened at $551.98 on Friday. The firm’s 50 day moving average price is $572.24 and its two-hundred day moving average price is $568.95. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.16 and a current ratio of 1.16. Mastercard Incorporated has a twelve month low of $465.59 and a twelve month high of $601.77. The stock has a market cap of $499.00 billion, a price-to-earnings ratio of 37.22, a PEG ratio of 2.27 and a beta of 0.92.

Mastercard (NYSE:MA) last released its earnings results on Thursday, October 30th. The credit services provider reported $4.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.31 by $0.07. The company had revenue of $8.60 billion during the quarter, compared to analyst estimates of $8.53 billion. Mastercard had a return on equity of 200.01% and a net margin of 44.93%.The company’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.89 earnings per share. Equities analysts anticipate that Mastercard Incorporated will post 15.91 EPS for the current year.

Mastercard Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 7th. Shareholders of record on Thursday, October 9th were given a dividend of $0.76 per share. The ex-dividend date was Thursday, October 9th. This represents a $3.04 dividend on an annualized basis and a yield of 0.6%. Mastercard’s dividend payout ratio (DPR) is presently 19.44%.

Analysts Set New Price Targets

MA has been the topic of a number of research analyst reports. Tigress Financial lifted their target price on Mastercard from $685.00 to $730.00 and gave the stock a “strong-buy” rating in a report on Thursday. KeyCorp reaffirmed an “overweight” rating and issued a $665.00 price objective on shares of Mastercard in a research note on Wednesday, October 22nd. Wells Fargo & Company dropped their target price on shares of Mastercard from $669.00 to $660.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. Citigroup raised shares of Mastercard to a “strong-buy” rating in a research note on Thursday, October 23rd. Finally, TD Cowen restated a “buy” rating and issued a $645.00 price target on shares of Mastercard in a research report on Monday, August 11th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $649.26.

Insider Buying and Selling

In other Mastercard news, CFO J. Mehra Sachin sold 17,263 shares of Mastercard stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $591.00, for a total transaction of $10,202,433.00. Following the transaction, the chief financial officer owned 31,234 shares of the company’s stock, valued at $18,459,294. The trade was a 35.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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.