Summit Wealth & Retirement Planning Inc. Purchases New Stake in Mastercard Incorporated $MA

Summit Wealth & Retirement Planning Inc. acquired a new stake in shares of Mastercard Incorporated (NYSE:MA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,102 shares of the credit services provider’s stock, valued at approximately $619,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. LGT Financial Advisors LLC acquired a new position in Mastercard in the second quarter worth about $25,000. Family Legacy Financial Solutions LLC acquired a new stake in Mastercard during the second quarter valued at approximately $26,000. Flaharty Asset Management LLC bought a new position in Mastercard during the 1st quarter worth approximately $27,000. Keystone Global Partners LLC acquired a new position in shares of Mastercard in the 1st quarter worth approximately $31,000. Finally, IMG Wealth Management Inc. bought a new stake in shares of Mastercard in the 2nd quarter valued at approximately $31,000. Institutional investors own 97.28% of the company’s stock.

Insider Transactions at Mastercard

In other Mastercard news, CFO J. Mehra Sachin sold 17,816 shares of the business’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $586.89, for a total transaction of $10,456,032.24. Following the completion of the transaction, the chief financial officer owned 31,234 shares in the company, valued at approximately $18,330,922.26. The trade was a 36.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.09% of the company’s stock.

Mastercard Trading Down 0.2%

Mastercard stock opened at $551.98 on Friday. Mastercard Incorporated has a 52-week low of $465.59 and a 52-week high of $601.77. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 2.41. The firm has a market capitalization of $499.00 billion, a price-to-earnings ratio of 37.22, a PEG ratio of 2.27 and a beta of 0.92. The firm has a 50-day moving average price of $572.24 and a two-hundred day moving average price of $568.95.

Mastercard (NYSE:MA) last announced its quarterly earnings results on Thursday, October 30th. The credit services provider reported $4.38 EPS for the quarter, beating the consensus estimate of $4.31 by $0.07. The company had revenue of $8.60 billion for the quarter, compared to analyst estimates of $8.53 billion. Mastercard had a net margin of 44.93% and a return on equity of 200.01%. Mastercard’s revenue was up 16.7% compared to the same quarter last year. During the same quarter last year, the business earned $3.89 earnings per share. Sell-side analysts expect that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 7th. Shareholders of record on Thursday, October 9th were paid a dividend of $0.76 per share. The ex-dividend date of this dividend was Thursday, October 9th. This represents a $3.04 annualized dividend and a yield of 0.6%. Mastercard’s payout ratio is presently 19.44%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on MA shares. Truist Financial reduced their price objective on Mastercard from $638.00 to $630.00 and set a “buy” rating on the stock in a research note on Tuesday. Wall Street Zen raised shares of Mastercard from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Wells Fargo & Company decreased their price target on shares of Mastercard from $669.00 to $660.00 and set an “overweight” rating for the company in a report on Friday, October 31st. TD Cowen reaffirmed a “buy” rating and set a $645.00 price objective on shares of Mastercard in a research report on Monday, August 11th. Finally, Macquarie raised their target price on shares of Mastercard from $655.00 to $660.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $649.26.

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.