Almanack Investment Partners LLC. Purchases New Stake in Mastercard Incorporated $MA

Key Points

• Almanack Investment Partners LLC acquired a new stake in Mastercard, purchasing 641 shares valued at approximately $360,000 in the second quarter of 2023.
• Corporate insider transactions include CFO J. Mehra Sachin selling 17,263 shares worth over $10 million, reducing his position by 35.60%.
• Analysts have set target prices for Mastercard shares between $625 and $660, with a consensus rating of "Buy" among analysts.

Almanack Investment Partners LLC. purchased a new stake in Mastercard Incorporated (NYSE:MA - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 641 shares of the credit services provider's stock, valued at approximately $360,000.

Several other hedge funds have also bought and sold shares of the business. Brighton Jones LLC boosted its holdings in Mastercard by 42.3% during the 4th quarter. Brighton Jones LLC now owns 6,824 shares of the credit services provider's stock worth $3,594,000 after acquiring an additional 2,028 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Mastercard by 19.9% during the 1st quarter. GAMMA Investing LLC now owns 15,007 shares of the credit services provider's stock worth $8,226,000 after acquiring an additional 2,493 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Mastercard by 13.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 316,790 shares of the credit services provider's stock worth $173,640,000 after acquiring an additional 37,947 shares during the last quarter. Opal Wealth Advisors LLC purchased a new position in Mastercard during the 1st quarter worth $164,000. Finally, Grant Private Wealth Management Inc boosted its holdings in Mastercard by 19.0% during the 1st quarter. Grant Private Wealth Management Inc now owns 764 shares of the credit services provider's stock worth $419,000 after acquiring an additional 122 shares during the last quarter. Institutional investors and hedge funds own 97.28% of the company's stock.

Insider Transactions at Mastercard

In related news, CFO J. Mehra Sachin sold 17,263 shares of the business's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $591.00, for a total value of $10,202,433.00. Following the sale, the chief financial officer directly owned 31,234 shares in the company, valued at approximately $18,459,294. The trade was a 35.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.09% of the company's stock.

Analysts Set New Price Targets

MA has been the topic of a number of analyst reports. 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 report on Friday, August 1st. TD Cowen reiterated a "buy" rating and set a $645.00 target price on shares of Mastercard in a research note on Monday, August 11th. Wall Street Zen cut Mastercard from a "buy" rating to a "hold" rating in a research note on Friday, September 26th. Robert W. Baird lifted their target price on Mastercard from $640.00 to $660.00 and gave the stock an "outperform" rating in a research note on Monday, October 6th. Finally, KeyCorp lifted their target price on Mastercard from $635.00 to $660.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $634.04.

Mastercard Trading Down 1.4%

Shares of Mastercard stock opened at $556.80 on Monday. Mastercard Incorporated has a 52-week low of $465.59 and a 52-week high of $601.77. The stock's 50-day simple moving average is $581.01 and its 200 day simple moving average is $562.90. The stock has a market capitalization of $503.35 billion, a P/E ratio of 37.55, a P/E/G ratio of 2.28 and a beta of 0.97. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.16 and a current ratio of 1.16.

Mastercard (NYSE:MA - Get Free Report) last announced 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 return on equity of 200.01% and a net margin of 44.93%.The business had revenue of $8.13 billion for the quarter, compared to analysts' expectations of $7.95 billion. During the same period in the previous year, the business posted $3.50 EPS. The firm's quarterly revenue was up 16.8% compared to the same quarter last year. As a group, research analysts anticipate that Mastercard Incorporated will post 15.91 EPS for the current year.

Mastercard Dividend Announcement

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

About Mastercard

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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