1776 Wealth LLC Buys 955 Shares of Mastercard Incorporated $MA

1776 Wealth LLC increased its stake in Mastercard Incorporated (NYSE:MA) by 170.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,514 shares of the credit services provider’s stock after purchasing an additional 955 shares during the quarter. 1776 Wealth LLC’s holdings in Mastercard were worth $861,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. LGT Financial Advisors LLC purchased a new position in shares of Mastercard during the 2nd quarter valued at $25,000. Evolution Wealth Management Inc. bought a new stake in Mastercard in the 2nd quarter valued at about $29,000. IMG Wealth Management Inc. purchased a new stake in Mastercard during the second quarter valued at about $31,000. Robbins Farley boosted its position in Mastercard by 50.0% during the third quarter. Robbins Farley now owns 54 shares of the credit services provider’s stock worth $31,000 after purchasing an additional 18 shares during the period. Finally, True Wealth Design LLC increased its stake in shares of Mastercard by 45.2% in the second 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. 97.28% of the stock is owned by institutional investors.

Mastercard Trading Down 0.5%

MA stock opened at $537.69 on Thursday. The company has a market capitalization of $482.85 billion, a PE ratio of 32.55, a price-to-earnings-growth ratio of 1.75 and a beta of 0.83. The company has a debt-to-equity ratio of 2.36, a quick ratio of 1.12 and a current ratio of 1.03. Mastercard Incorporated has a one year low of $465.59 and a one year high of $601.77. The company’s 50 day moving average price is $554.67 and its two-hundred day moving average price is $563.75.

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

Mastercard Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Thursday, April 9th will be issued a $0.87 dividend. The ex-dividend date is Thursday, April 9th. This represents a $3.48 annualized dividend and a dividend yield of 0.6%. Mastercard’s payout ratio is currently 21.07%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MA. Truist Financial set a $611.00 price objective on shares of Mastercard in a research note on Tuesday. Morgan Stanley boosted their price objective on Mastercard from $665.00 to $678.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Wells Fargo & Company raised their target price on Mastercard from $660.00 to $668.00 and gave the stock an “overweight” rating in a research note on Thursday, January 29th. Cantor Fitzgerald raised Mastercard to a “strong-buy” rating in a report on Tuesday, January 27th. Finally, Daiwa America upgraded shares of Mastercard from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. Six equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $669.27.

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.