Summit Asset Management LLC Purchases 25 Shares of Mastercard Incorporated (NYSE:MA)

Summit Asset Management LLC raised its position in shares of Mastercard Incorporated (NYSE:MA) by 2.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,265 shares of the credit services provider’s stock after acquiring an additional 25 shares during the period. Summit Asset Management LLC’s holdings in Mastercard were worth $625,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of MA. ROI Financial Advisors LLC grew its holdings in shares of Mastercard by 5.3% in the third quarter. ROI Financial Advisors LLC now owns 10,651 shares of the credit services provider’s stock worth $5,259,000 after purchasing an additional 536 shares during the last quarter. Fortis Capital Management LLC lifted its stake in Mastercard by 6.5% in the third quarter. Fortis Capital Management LLC now owns 10,969 shares of the credit services provider’s stock worth $5,417,000 after acquiring an additional 672 shares during the period. Plato Investment Management Ltd lifted its stake in Mastercard by 0.5% in the third quarter. Plato Investment Management Ltd now owns 19,126 shares of the credit services provider’s stock worth $9,435,000 after acquiring an additional 103 shares during the period. Cable Hill Partners LLC lifted its stake in Mastercard by 9.3% in the third quarter. Cable Hill Partners LLC now owns 1,368 shares of the credit services provider’s stock worth $676,000 after acquiring an additional 116 shares during the period. Finally, Bell Bank lifted its stake in Mastercard by 24.4% in the third quarter. Bell Bank now owns 5,696 shares of the credit services provider’s stock worth $2,813,000 after acquiring an additional 1,116 shares during the period. Institutional investors own 97.28% of the company’s stock.

Mastercard Price Performance

Shares of NYSE MA opened at $521.50 on Thursday. The stock has a market capitalization of $478.65 billion, a price-to-earnings ratio of 39.45, a PEG ratio of 2.32 and a beta of 1.10. Mastercard Incorporated has a 12 month low of $394.76 and a 12 month high of $534.03. The firm’s 50 day simple moving average is $501.55 and its 200-day simple moving average is $469.88. The company has a debt-to-equity ratio of 2.36, a current ratio of 1.29 and a quick ratio of 1.29.

Mastercard (NYSE:MA) last announced its earnings results on Thursday, October 31st. The credit services provider reported $3.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.73 by $0.16. Mastercard had a return on equity of 178.27% and a net margin of 45.26%. The firm had revenue of $7.37 billion for the quarter, compared to analyst estimates of $7.27 billion. During the same quarter last year, the firm posted $3.39 EPS. The business’s revenue was up 12.8% on a year-over-year basis. Analysts expect that Mastercard Incorporated will post 14.45 EPS for the current year.

Mastercard Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Wednesday, October 9th were issued a $0.66 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $2.64 dividend on an annualized basis and a yield of 0.51%. Mastercard’s payout ratio is currently 19.97%.

Wall Street Analysts Forecast Growth

MA has been the subject of several analyst reports. TD Cowen increased their price target on shares of Mastercard from $532.00 to $533.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Argus raised shares of Mastercard to a “strong-buy” rating in a research report on Thursday, August 1st. Oppenheimer began coverage on shares of Mastercard in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $591.00 price objective for the company. Mizuho increased their price objective on shares of Mastercard from $496.00 to $532.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $565.00 price objective (up from $536.00) on shares of Mastercard in a research report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Mastercard presently has a consensus rating of “Moderate Buy” and an average target price of $540.17.

Insider Buying and Selling at Mastercard

In other Mastercard news, CMO Venkata R. Madabhushi sold 4,685 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $493.10, for a total value of $2,310,173.50. Following the transaction, the chief marketing officer now owns 17,118 shares in the company, valued at approximately $8,440,885.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, major shareholder Foundation Mastercard sold 109,000 shares of Mastercard stock in a transaction on Monday, August 19th. The stock was sold at an average price of $467.45, for a total transaction of $50,952,050.00. Following the transaction, the insider now owns 91,924,308 shares in the company, valued at $42,970,017,774.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Venkata R. Madabhushi sold 4,685 shares of Mastercard stock in a transaction on Friday, September 13th. The stock was sold at an average price of $493.10, for a total value of $2,310,173.50. Following the transaction, the chief marketing officer now owns 17,118 shares in the company, valued at approximately $8,440,885.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 327,370 shares of company stock worth $153,495,958. Corporate insiders own 0.10% 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.