672 Shares in Mastercard Incorporated $MA Acquired by LeConte Wealth Management LLC

Key Points

• LeConte Wealth Management LLC acquired 672 shares of Mastercard valued at approximately $378,000 during the second quarter, reflecting ongoing interest from institutional investors.
• Mastercard recently announced a quarterly dividend of $0.76 per share, representing a yield of 0.5% and with a payout ratio of 20.50%.
• Mastercard's stock has an average target price of $630.89, with the majority of analysts giving it a "Buy" rating.

LeConte Wealth Management LLC purchased a new position in Mastercard Incorporated (NYSE:MA - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 672 shares of the credit services provider's stock, valued at approximately $378,000.

Other large investors have also recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC purchased a new position in shares of Mastercard in the 2nd quarter worth $11,421,213,000. GAMMA Investing LLC increased its position in shares of Mastercard by 65,631.5% during the first quarter. GAMMA Investing LLC now owns 8,225,637 shares of the credit services provider's stock worth $4,508,636,000 after acquiring an additional 8,213,123 shares during the last quarter. Nuveen LLC acquired a new position in Mastercard in the first quarter worth about $4,238,764,000. Wellington Management Group LLP grew its stake in Mastercard by 38.6% in 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 purchasing an additional 3,765,378 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in Mastercard by 3,493.6% in the second quarter. Assenagon Asset Management S.A. now owns 934,110 shares of the credit services provider's stock worth $524,914,000 after purchasing an additional 908,116 shares in the last quarter. Institutional investors and hedge funds own 97.28% of the company's stock.

Insider Activity at Mastercard

In related news, CFO J. Mehra Sachin sold 17,816 shares of the company's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $586.89, for a total value of $10,456,032.24. Following the sale, the chief financial officer owned 31,234 shares in the company, valued at $18,330,922.26. This represents a 36.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Linda Pistecchia Kirkpatrick sold 958 shares of the firm's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $560.00, for a total transaction of $536,480.00. Following the transaction, the insider directly owned 23,624 shares in the company, valued at $13,229,440. The trade was a 3.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,449 shares of company stock valued at $21,974,441 in the last ninety days. Insiders own 0.09% of the company's stock.

Mastercard Stock Down 0.2%

Mastercard stock opened at $568.63 on Thursday. The firm has a market capitalization of $514.05 billion, a PE ratio of 38.34, a P/E/G ratio of 2.34 and a beta of 0.99. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.16 and a quick ratio of 1.16. The company's 50-day moving average is $578.51 and its 200-day moving average is $559.55. Mastercard Incorporated has a fifty-two week low of $465.59 and a fifty-two week high of $601.77.

Mastercard (NYSE:MA - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The credit services provider reported $4.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.05 by $0.10. Mastercard had a net margin of 44.93% and a return on equity of 200.01%. The firm had revenue of $8.13 billion during the quarter, compared to the consensus estimate of $7.95 billion. During the same quarter in the previous year, the firm posted $3.50 EPS. The business's revenue for the quarter was up 16.8% compared to the same quarter last year. Sell-side analysts anticipate that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Thursday, October 9th will be paid a dividend of $0.76 per share. The ex-dividend date of this dividend is Thursday, October 9th. This represents a $3.04 annualized dividend and a yield of 0.5%. Mastercard's dividend payout ratio is currently 20.50%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Wolfe Research set a $655.00 price target on Mastercard in a report on Monday, June 23rd. Wells Fargo & Company lifted their price objective on shares of Mastercard from $625.00 to $650.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Jefferies Financial Group reissued a "buy" rating on shares of Mastercard in a research report on Friday, June 6th. UBS Group upped their price objective on shares of Mastercard from $660.00 to $670.00 and gave the stock a "buy" rating in a report on Tuesday, June 3rd. Finally, Truist Financial decreased their price objective on shares of Mastercard from $640.00 to $612.00 and set a "buy" rating for the company in a report on Thursday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $630.89.

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.

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