New Millennium Group LLC Has $2.65 Million Stock Position in Mastercard Incorporated $MA

New Millennium Group LLC increased its stake in shares of Mastercard Incorporated (NYSE:MA) by 28.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,663 shares of the credit services provider’s stock after acquiring an additional 1,023 shares during the quarter. Mastercard comprises approximately 1.2% of New Millennium Group LLC’s holdings, making the stock its 23rd largest holding. New Millennium Group LLC’s holdings in Mastercard were worth $2,652,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Evolution Wealth Management Inc. bought a new stake in shares of Mastercard in the second quarter valued at about $29,000. Robbins Farley raised its holdings in Mastercard by 50.0% in the 3rd quarter. Robbins Farley now owns 54 shares of the credit services provider’s stock valued at $31,000 after acquiring an additional 18 shares in the last quarter. Tacita Capital Inc lifted its position in shares of Mastercard by 50.0% in the 3rd quarter. Tacita Capital Inc now owns 57 shares of the credit services provider’s stock worth $32,000 after acquiring an additional 19 shares during the period. True Wealth Design LLC grew its holdings in shares of Mastercard by 45.2% during the 2nd quarter. True Wealth Design LLC now owns 61 shares of the credit services provider’s stock worth $34,000 after purchasing an additional 19 shares in the last quarter. Finally, Sagard Holdings Management Inc. bought a new stake in shares of Mastercard during the second quarter valued at approximately $37,000. 97.28% of the stock is owned by institutional investors.

Mastercard Stock Performance

NYSE:MA opened at $519.80 on Friday. The stock has a market capitalization of $466.78 billion, a P/E ratio of 31.46, a price-to-earnings-growth ratio of 1.70 and a beta of 0.83. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.36. Mastercard Incorporated has a 1 year low of $465.59 and a 1 year high of $601.77. The firm has a 50 day moving average of $552.01 and a 200-day moving average of $562.03.

Mastercard (NYSE:MA) last released its quarterly earnings results on Thursday, January 29th. The credit services provider reported $4.76 EPS for the quarter, topping analysts’ consensus estimates of $4.24 by $0.52. Mastercard had a return on equity of 203.92% and a net margin of 45.65%.The business had revenue of $8.81 billion for the quarter, compared to analyst estimates of $8.80 billion. During the same period in the prior year, the company earned $3.82 EPS. Mastercard’s revenue for the quarter was up 17.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Mastercard Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Thursday, April 9th will be paid a $0.87 dividend. The ex-dividend date is Thursday, April 9th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 0.7%. Mastercard’s dividend payout ratio (DPR) is 21.07%.

Analyst Upgrades and Downgrades

MA has been the subject of several research reports. Daiwa Securities Group set a $610.00 target price on Mastercard and gave the stock an “outperform” rating in a research report on Monday, February 2nd. Wells Fargo & Company increased their price objective on shares of Mastercard from $660.00 to $668.00 and gave the company an “overweight” rating in a research note on Thursday, January 29th. Truist Financial set a $611.00 target price on shares of Mastercard in a research note on Tuesday, February 10th. Raymond James Financial cut their price target on shares of Mastercard from $707.00 to $631.00 and set an “outperform” rating for the company in a research note on Thursday, January 29th. Finally, Macquarie Infrastructure lifted their price objective on Mastercard from $660.00 to $675.00 and gave the company an “outperform” rating in a report on Friday, January 30th. Six equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $669.27.

Mastercard Company Profile

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.