Concentric Wealth Management LLC Sells 265 Shares of Mastercard Incorporated (NYSE:MA)

Concentric Wealth Management LLC cut its stake in Mastercard Incorporated (NYSE:MA) by 3.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,712 shares of the credit services provider’s stock after selling 265 shares during the quarter. Concentric Wealth Management LLC’s holdings in Mastercard were worth $4,302,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in MA. Highline Wealth Partners LLC purchased a new stake in shares of Mastercard during the third quarter worth about $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Mastercard during the second quarter worth $34,000. Fairway Wealth LLC purchased a new stake in shares of Mastercard during the second quarter valued at $35,000. First Personal Financial Services acquired a new stake in shares of Mastercard during the third quarter worth about $39,000. Finally, Lowe Wealth Advisors LLC boosted its position 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 buying an additional 37 shares during the last quarter. Institutional investors own 97.28% of the company’s stock.

Mastercard Price Performance

MA opened at $520.86 on Monday. The firm has a market cap of $478.06 billion, a price-to-earnings ratio of 39.40, a PEG ratio of 2.32 and a beta of 1.10. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 2.36. The stock’s 50-day moving average price is $506.91 and its 200 day moving average price is $473.83. Mastercard Incorporated has a 12-month low of $404.32 and a 12-month high of $534.03.

Mastercard (NYSE:MA) last announced its quarterly earnings data on Thursday, October 31st. The credit services provider reported $3.89 earnings per share for the quarter, beating analysts’ consensus estimates of $3.73 by $0.16. The firm had revenue of $7.37 billion during the quarter, compared to analysts’ expectations of $7.27 billion. Mastercard had a net margin of 45.26% and a return on equity of 178.27%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.39 earnings per share. As a group, sell-side analysts expect that Mastercard Incorporated will post 14.47 earnings per share for the current year.

Mastercard Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors 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 dividend payout ratio (DPR) is presently 19.97%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Piper Sandler reiterated an “overweight” rating and issued a $575.00 price objective (up previously from $565.00) on shares of Mastercard in a research note on Friday, November 15th. Mizuho lifted their price objective on Mastercard from $496.00 to $532.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Barclays upped their target price on Mastercard from $536.00 to $576.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. TD Cowen boosted their price target on Mastercard from $533.00 to $567.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, UBS Group upped their price objective on Mastercard from $590.00 to $610.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Four analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Mastercard has an average rating of “Moderate Buy” and a consensus price target of $549.16.

Insider Activity

In other news, CMO Venkata R. Madabhushi sold 4,685 shares of Mastercard stock in a transaction on Friday, September 20th. The shares were sold at an average price of $489.86, for a total transaction of $2,294,994.10. Following the completion of the sale, the chief marketing officer now directly owns 15,031 shares of the company’s stock, valued at approximately $7,363,085.66. The trade was a 23.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.10% 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.