Norris Perne & French LLP MI Has $9.92 Million Stake in Mastercard Incorporated $MA

Norris Perne & French LLP MI raised its stake in Mastercard Incorporated (NYSE:MA) by 1,670.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,442 shares of the credit services provider’s stock after acquiring an additional 16,457 shares during the quarter. Norris Perne & French LLP MI’s holdings in Mastercard were worth $9,921,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. ORG Partners LLC raised its position in Mastercard by 73.2% during the 2nd quarter. ORG Partners LLC now owns 698 shares of the credit services provider’s stock worth $394,000 after purchasing an additional 295 shares during the last quarter. Curio Wealth LLC grew its position in shares of Mastercard by 22,400.0% in the 2nd quarter. Curio Wealth LLC now owns 225 shares of the credit services provider’s stock valued at $126,000 after buying an additional 224 shares during the last quarter. Global X Japan Co. Ltd. increased its stake in shares of Mastercard by 3,694.7% in the third quarter. Global X Japan Co. Ltd. now owns 9,297 shares of the credit services provider’s stock valued at $5,288,000 after buying an additional 9,052 shares during the period. Vanguard Group Inc. increased its stake in shares of Mastercard by 1.2% in the second quarter. Vanguard Group Inc. now owns 78,475,807 shares of the credit services provider’s stock valued at $44,098,695,000 after buying an additional 931,132 shares during the period. Finally, Wheelhouse Advisory Group LLC raised its position in shares of Mastercard by 4.4% during the second quarter. Wheelhouse Advisory Group LLC now owns 1,336 shares of the credit services provider’s stock worth $751,000 after acquiring an additional 56 shares during the last quarter. 97.28% of the stock is owned by institutional investors.

Mastercard Stock Up 0.0%

Shares of NYSE MA opened at $579.61 on Monday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.40. The firm has a market cap of $520.49 billion, a PE ratio of 37.06, a P/E/G ratio of 2.28 and a beta of 0.87. The company’s fifty day simple moving average is $555.62 and its 200 day simple moving average is $565.49. Mastercard Incorporated has a 12-month low of $465.59 and a 12-month high of $601.77.

Mastercard (NYSE:MA) last announced its quarterly earnings data on Thursday, October 30th. The credit services provider reported $4.38 earnings per share for the quarter, beating the consensus estimate of $4.31 by $0.07. The firm had revenue of $8.60 billion for the quarter, compared to analyst estimates of $8.53 billion. Mastercard had a net margin of 45.28% and a return on equity of 202.03%. The business’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.89 earnings per share. As a group, sell-side analysts forecast that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 9th. Shareholders of record on Friday, January 9th will be paid a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 0.6%. This is a boost from Mastercard’s previous quarterly dividend of $0.76. The ex-dividend date of this dividend is Friday, January 9th. Mastercard’s payout ratio is 19.44%.

Analyst Ratings Changes

Several analysts recently commented on the company. The Goldman Sachs Group reiterated a “buy” rating and issued a $713.00 target price on shares of Mastercard in a report on Thursday, October 30th. UBS Group increased their price objective on shares of Mastercard from $690.00 to $700.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Tigress Financial lifted their target price on shares of Mastercard from $685.00 to $730.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 6th. Robert W. Baird boosted their target price on shares of Mastercard from $640.00 to $660.00 and gave the company an “outperform” rating in a report on Monday, October 6th. Finally, Morgan Stanley set a $665.00 price target on Mastercard and gave the stock an “overweight” rating in a report on Friday, October 31st. Five analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $657.48.

About Mastercard

Mastercard Incorporated is a global payments technology company that operates a network connecting consumers, financial institutions, merchants, governments and businesses in more than 200 countries and territories. The company facilitates electronic payments and transaction processing for credit, debit and prepaid card products carrying the Mastercard brand, while also providing a range of payment-related services to issuers, acquirers and merchants. Its technology and network enable authorization, clearing and settlement of payments and support a broad set of use cases including point-of-sale, e-commerce and mobile payments.

Beyond core transaction processing, Mastercard offers a suite of value-added services such as fraud and risk management, identity and authentication tools, tokenization and digital wallet support, cross-border and commercial payment solutions, and data analytics and consulting services for merchants and financial partners.