Adell Harriman & Carpenter Inc. Buys 2,088 Shares of Mastercard Incorporated $MA

Adell Harriman & Carpenter Inc. lifted its position in shares of Mastercard Incorporated (NYSE:MA) by 6.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,384 shares of the credit services provider’s stock after purchasing an additional 2,088 shares during the period. Mastercard accounts for approximately 1.4% of Adell Harriman & Carpenter Inc.’s investment portfolio, making the stock its 20th biggest holding. Adell Harriman & Carpenter Inc.’s holdings in Mastercard were worth $20,446,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in MA. LGT Financial Advisors LLC acquired a new stake in shares of Mastercard during the 2nd quarter worth approximately $25,000. Family Legacy Financial Solutions LLC acquired a new position in shares of Mastercard in the second quarter valued at approximately $26,000. Flaharty Asset Management LLC acquired a new stake in shares of Mastercard in the first quarter valued at about $27,000. Keystone Global Partners LLC acquired a new stake in Mastercard during the 1st quarter valued at approximately $31,000. Finally, IMG Wealth Management Inc. acquired a new stake in shares of Mastercard during the second quarter worth $31,000. 97.28% of the stock is currently owned by institutional investors.

Mastercard Trading Down 2.1%

Shares of MA opened at $553.89 on Thursday. The firm has a market capitalization of $500.72 billion, a price-to-earnings ratio of 37.35, a PEG ratio of 2.32 and a beta of 0.97. The firm’s 50-day moving average price is $578.08 and its 200-day moving average price is $567.52. Mastercard Incorporated has a 1-year low of $465.59 and a 1-year high of $601.77. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 2.41.

Mastercard (NYSE:MA) last released its quarterly earnings data 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. Mastercard had a net margin of 44.93% and a return on equity of 200.01%. The business had revenue of $8.13 billion during the quarter, compared to analyst estimates of $7.95 billion. During the same period last year, the business earned $3.50 EPS. Mastercard’s revenue was up 16.8% compared to the same quarter last year. Sell-side analysts anticipate that Mastercard Incorporated will post 15.91 EPS for the current year.

Mastercard Announces Dividend

The business also recently declared 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. This represents a $3.04 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Thursday, October 9th. Mastercard’s payout ratio is currently 20.50%.

Insider Buying and Selling at Mastercard

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

Analysts Set New Price Targets

A number of research firms have recently issued reports on MA. Robert W. Baird increased their price objective on shares of Mastercard from $640.00 to $660.00 and gave the stock an “outperform” rating in a research report on Monday, October 6th. Royal Bank Of Canada increased their price target on Mastercard from $650.00 to $656.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Wells Fargo & Company upgraded Mastercard to a “strong-buy” rating in a research note on Wednesday, October 22nd. Truist Financial set a $638.00 price objective on shares of Mastercard in a report on Friday, October 24th. Finally, Wall Street Zen upgraded Mastercard from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Mastercard currently has an average rating of “Buy” and a consensus price target of $638.96.

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.