Solidarity Wealth LLC Purchases 7,264 Shares of Mastercard Incorporated $MA

by · The Cerbat Gem

Solidarity Wealth LLC lifted its holdings in Mastercard Incorporated (NYSE:MA – Free Report) by 43.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,135 shares of the credit services provider’s stock after acquiring an additional 7,264 shares during the period. Mastercard makes up approximately 3.2% of Solidarity Wealth LLC’s portfolio, making the stock its 11th biggest position. Solidarity Wealth LLC’s holdings in Mastercard were worth $13,562,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Mastercard by 1.2% in the second quarter. Vanguard Group Inc. now owns 78,475,807 shares of the credit services provider’s stock worth $44,098,695,000 after purchasing an additional 931,132 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Mastercard during the 2nd quarter worth approximately $11,421,213,000. Price T Rowe Associates Inc. MD increased its stake in shares of Mastercard by 4.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,096,979 shares of the credit services provider’s stock valued at $11,015,557,000 after acquiring an additional 907,184 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Mastercard by 2.8% during the 2nd quarter. Geode Capital Management LLC now owns 19,760,552 shares of the credit services provider’s stock valued at $11,062,509,000 after acquiring an additional 542,841 shares during the period. Finally, Wellington Management Group LLP boosted 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 acquiring an additional 3,765,378 shares in the last quarter. Institutional investors own 97.28% of the company’s stock.

Mastercard Price Performance

MA stock opened at $551.25 on Monday. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.16 and a current ratio of 1.16. The business has a 50-day simple moving average of $559.06 and a two-hundred day simple moving average of $568.20. The company has a market capitalization of $495.02 billion, a P/E ratio of 37.17, a price-to-earnings-growth ratio of 2.27 and a beta of 0.92. Mastercard Incorporated has a 52-week low of $465.59 and a 52-week high of $601.77.

Mastercard (NYSE:MA – Get Free Report) last issued its quarterly earnings data on Thursday, October 30th. The credit services provider reported $4.38 EPS for the quarter, topping the consensus estimate of $4.31 by $0.07. The firm had revenue of $8.60 billion during the quarter, compared to the consensus estimate of $8.53 billion. Mastercard had a return on equity of 200.01% and a net margin of 44.93%.The company’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same period in the prior year, the business posted $3.89 earnings per share. Research analysts expect that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Mastercard Dividend Announcement

The business also recently disclosed 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 was Thursday, October 9th. This represents a $3.04 annualized dividend and a yield of 0.6%. Mastercard’s dividend payout ratio (DPR) is 19.44%.

Insider Transactions at Mastercard

In other news, CFO J. Mehra Sachin sold 17,263 shares of the company’s stock in a transaction 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 in the company, valued at $18,459,294. This represents a 35.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.09% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Cowen reaffirmed a “buy” rating on shares of Mastercard in a research note on Friday, October 31st. Truist Financial decreased their target price on Mastercard from $638.00 to $630.00 and set a “buy” rating for the company in a research report on Tuesday, November 4th. Wall Street Zen lowered Mastercard from a “buy” rating to a “hold” rating in a report on Friday. Compass Point set a $620.00 price objective on Mastercard and gave the company a “neutral” rating in a report on Friday, October 31st. Finally, KeyCorp reaffirmed an “overweight” rating and set a $665.00 target price on shares of Mastercard in a research report on Wednesday, October 22nd. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $652.50.

Check Out Our Latest Stock Analysis on Mastercard

Mastercard Profile

(Free Report)

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.

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