Mirae Asset Global Investments Co. Ltd. Buys 5,357 Shares of Mastercard Incorporated (NYSE:MA)

Mirae Asset Global Investments Co. Ltd. grew its stake in Mastercard Incorporated (NYSE:MA) by 5.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 97,507 shares of the credit services provider’s stock after acquiring an additional 5,357 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Mastercard were worth $44,831,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Palisade Asset Management LLC acquired a new stake in Mastercard in the first quarter worth $27,000. Strategic Investment Solutions Inc. IL acquired a new stake in Mastercard during the 2nd quarter worth $34,000. Fairway Wealth LLC bought a new position in Mastercard during the second quarter worth about $35,000. Lowe Wealth Advisors LLC grew its stake in Mastercard by 74.0% in the third quarter. Lowe Wealth Advisors LLC now owns 87 shares of the credit services provider’s stock valued at $43,000 after acquiring an additional 37 shares during the period. Finally, Valued Wealth Advisors LLC increased its holdings in shares of Mastercard by 168.6% in the first quarter. Valued Wealth Advisors LLC now owns 94 shares of the credit services provider’s stock worth $45,000 after acquiring an additional 59 shares in the last quarter. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Mastercard Trading Down 0.6 %

Shares of NYSE:MA opened at $507.36 on Friday. The stock has a market cap of $471.65 billion, a PE ratio of 40.33, a P/E/G ratio of 2.27 and a beta of 1.10. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.95. Mastercard Incorporated has a 12-month low of $359.77 and a 12-month high of $518.82. The business has a 50 day moving average of $491.84 and a 200-day moving average of $465.44.

Mastercard (NYSE:MA) last issued its quarterly earnings data on Wednesday, July 31st. The credit services provider reported $3.59 EPS for the quarter, beating analysts’ consensus estimates of $3.51 by $0.08. Mastercard had a return on equity of 179.78% and a net margin of 46.45%. The firm had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.85 billion. As a group, equities research analysts forecast that Mastercard Incorporated will post 14.32 earnings per share for the current year.

Mastercard Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Wednesday, October 9th will be issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend is Wednesday, October 9th. Mastercard’s dividend payout ratio is currently 20.99%.

Insiders Place Their Bets

In other news, CFO J. Mehra Sachin sold 13,439 shares of Mastercard stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $455.00, for a total value of $6,114,745.00. Following the completion of the sale, the chief financial officer now directly owns 27,304 shares in the company, valued at approximately $12,423,320. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO J. Mehra Sachin sold 13,439 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $455.00, for a total value of $6,114,745.00. Following the transaction, the chief financial officer now owns 27,304 shares in the company, valued at approximately $12,423,320. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Venkata R. Madabhushi sold 4,685 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $493.10, for a total transaction of $2,310,173.50. Following the sale, the chief marketing officer now directly owns 17,118 shares of the company’s stock, valued at $8,440,885.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 340,809 shares of company stock worth $159,610,703 in the last quarter. Corporate insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on MA shares. Piper Sandler increased their target price on Mastercard from $531.00 to $536.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Compass Point assumed coverage on shares of Mastercard in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $525.00 target price for the company. Argus raised Mastercard to a “strong-buy” rating in a research note on Thursday, August 1st. BMO Capital Markets reaffirmed an “outperform” rating and set a $520.00 price objective on shares of Mastercard in a research report on Wednesday, August 14th. Finally, Royal Bank of Canada lifted their target price on Mastercard from $500.00 to $526.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $525.68.

About Mastercard

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.