Envestnet Portfolio Solutions Inc. Buys 3,998 Shares of Mastercard Incorporated $MA

Envestnet Portfolio Solutions Inc. lifted its stake in shares of Mastercard Incorporated (NYSE:MA) by 6.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 65,000 shares of the credit services provider’s stock after acquiring an additional 3,998 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Mastercard were worth $36,526,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Family Legacy Financial Solutions LLC purchased a new position in shares of Mastercard during the 2nd quarter valued at about $26,000. Flaharty Asset Management LLC purchased a new position in shares of Mastercard during the first quarter worth approximately $27,000. Keystone Global Partners LLC purchased a new position in shares of Mastercard during the first quarter worth approximately $31,000. Hughes Financial Services LLC bought a new stake in shares of Mastercard in the 1st quarter worth approximately $34,000. Finally, 1 North Wealth Services LLC purchased a new stake in shares of Mastercard in the 1st quarter valued at $44,000. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Mastercard Stock Down 1.4%

Shares of NYSE:MA opened at $556.80 on Monday. Mastercard Incorporated has a 1 year low of $465.59 and a 1 year high of $601.77. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.16 and a quick ratio of 1.16. The stock’s 50-day moving average is $581.01 and its 200 day moving average is $562.90. The company has a market cap of $503.35 billion, a PE ratio of 37.55, a P/E/G ratio of 2.28 and a beta of 0.97.

Mastercard (NYSE:MA) last issued its quarterly earnings data on Thursday, July 31st. The credit services provider reported $4.15 earnings per share for the quarter, topping analysts’ consensus estimates of $4.05 by $0.10. The firm had revenue of $8.13 billion for the quarter, compared to analyst estimates of $7.95 billion. Mastercard had a return on equity of 200.01% and a net margin of 44.93%.The business’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period last year, the company earned $3.50 EPS. Sell-side analysts anticipate that Mastercard Incorporated will post 15.91 EPS for the current year.

Mastercard Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Thursday, October 9th will be issued a $0.76 dividend. The ex-dividend date 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 Activity at Mastercard

In other news, CFO J. Mehra Sachin sold 17,263 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $591.00, for a total value of $10,202,433.00. Following the completion of the sale, the chief financial officer directly owned 31,234 shares of the company’s stock, valued at approximately $18,459,294. This trade represents a 35.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MA. Royal Bank Of Canada lifted their target price on shares of Mastercard from $650.00 to $656.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. Wolfe Research set a $655.00 price objective on Mastercard in a research note on Monday, June 23rd. Robert W. Baird boosted their target price on Mastercard from $640.00 to $660.00 and gave the company an “outperform” rating in a research note on Monday, October 6th. Morgan Stanley increased their target price on Mastercard from $639.00 to $661.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Finally, Truist Financial decreased their price target on Mastercard from $640.00 to $612.00 and set a “buy” rating on the stock in a research note on Thursday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $634.04.

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.