Moran Wealth Management LLC Has $18.28 Million Stock Holdings in Mastercard Incorporated $MA

Moran Wealth Management LLC cut its position in shares of Mastercard Incorporated (NYSE:MA) by 3.0% during the second quarter, Holdings Channel reports. The institutional investor owned 32,523 shares of the credit services provider’s stock after selling 1,013 shares during the quarter. Moran Wealth Management LLC’s holdings in Mastercard were worth $18,276,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC bought a new position in Mastercard during the second quarter worth about $11,421,213,000. Nuveen LLC bought a new position in Mastercard during the first quarter worth about $4,238,764,000. Wellington Management Group LLP lifted its stake in Mastercard by 38.6% during the first quarter. Wellington Management Group LLP now owns 13,526,118 shares of the credit services provider’s stock worth $7,413,936,000 after purchasing an additional 3,765,378 shares during the period. Assenagon Asset Management S.A. lifted its stake in Mastercard by 3,493.6% during the second quarter. Assenagon Asset Management S.A. now owns 934,110 shares of the credit services provider’s stock worth $524,914,000 after purchasing an additional 908,116 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in Mastercard by 4.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,096,979 shares of the credit services provider’s stock worth $11,015,557,000 after purchasing an additional 907,184 shares during the period. 97.28% of the stock is owned by institutional investors and hedge funds.

Mastercard Stock Performance

Shares of Mastercard stock opened at $558.89 on Tuesday. 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 firm has a market cap of $505.24 billion, a P/E ratio of 37.69, a P/E/G ratio of 2.28 and a beta of 0.97. The firm has a 50 day simple moving average of $580.79 and a 200 day simple moving average of $563.03. Mastercard Incorporated has a fifty-two week low of $465.59 and a fifty-two week high of $601.77.

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

Mastercard Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Thursday, October 9th will be issued a $0.76 dividend. The ex-dividend date of this dividend is Thursday, October 9th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.5%. Mastercard’s dividend payout ratio (DPR) is currently 20.50%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on MA shares. Wall Street Zen cut shares of Mastercard from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. Wells Fargo & Company raised their price target on shares of Mastercard from $625.00 to $650.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. The Goldman Sachs Group reiterated a “buy” rating on shares of Mastercard in a research note on Friday, August 1st. Deutsche Bank Aktiengesellschaft started coverage on shares of Mastercard in a research note on Thursday, July 17th. They issued a “buy” rating and a $650.00 target price for the company. Finally, KeyCorp lifted their target price on shares of Mastercard from $635.00 to $660.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $634.04.

Insider Buying and Selling at Mastercard

In related news, CFO J. Mehra Sachin sold 17,263 shares of the firm’s stock in a transaction that occurred on 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 owned 31,234 shares of the company’s stock, valued at $18,459,294. This trade represents a 35.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.09% of the stock is currently owned by corporate insiders.

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.