Axxcess Wealth Management LLC Sells 1,411 Shares of Mastercard Incorporated (NYSE:MA)

Axxcess Wealth Management LLC reduced its position in Mastercard Incorporated (NYSE:MA - Free Report) by 9.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,464 shares of the credit services provider's stock after selling 1,411 shares during the quarter. Axxcess Wealth Management LLC's holdings in Mastercard were worth $7,380,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Rehmann Capital Advisory Group boosted its stake in Mastercard by 1.0% during the first quarter. Rehmann Capital Advisory Group now owns 8,037 shares of the credit services provider's stock worth $4,406,000 after acquiring an additional 82 shares in the last quarter. Cornerstone Planning Group LLC boosted its stake in Mastercard by 122.1% during the first quarter. Cornerstone Planning Group LLC now owns 311 shares of the credit services provider's stock worth $165,000 after acquiring an additional 171 shares in the last quarter. Dogwood Wealth Management LLC boosted its stake in Mastercard by 5.3% during the first quarter. Dogwood Wealth Management LLC now owns 1,330 shares of the credit services provider's stock worth $729,000 after acquiring an additional 67 shares in the last quarter. Financial Symmetry Inc boosted its stake in Mastercard by 5.5% during the first quarter. Financial Symmetry Inc now owns 496 shares of the credit services provider's stock worth $272,000 after acquiring an additional 26 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC lifted its stake in shares of Mastercard by 6.6% in the first quarter. Linden Thomas Advisory Services LLC now owns 12,017 shares of the credit services provider's stock valued at $6,587,000 after buying an additional 745 shares in the last quarter. 97.28% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on MA shares. Truist Financial started coverage on shares of Mastercard in a research report on Monday, June 2nd. They set a "buy" rating and a $640.00 price target on the stock. Evercore ISI began coverage on shares of Mastercard in a research note on Wednesday, April 9th. They issued an "in-line" rating and a $550.00 target price for the company. Citigroup boosted their price objective on shares of Mastercard from $650.00 to $652.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Mastercard in a research note on Friday, June 6th. Finally, Macquarie decreased their price target on shares of Mastercard from $645.00 to $610.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Seven research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $611.50.

Mastercard Trading Up 0.3%

Shares of NYSE:MA traded up $1.92 on Wednesday, hitting $564.36. The company had a trading volume of 2,453,888 shares, compared to its average volume of 2,674,082. The firm's 50-day simple moving average is $567.91 and its two-hundred day simple moving average is $547.21. Mastercard Incorporated has a 1 year low of $428.86 and a 1 year high of $594.71. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.81. The firm has a market capitalization of $514.53 billion, a price-to-earnings ratio of 39.58, a P/E/G ratio of 2.46 and a beta of 1.02.

Mastercard (NYSE:MA - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The credit services provider reported $3.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.57 by $0.16. The company had revenue of $7.25 billion during the quarter, compared to analyst estimates of $7.12 billion. Mastercard had a net margin of 45.21% and a return on equity of 196.87%. Mastercard's quarterly revenue was up 14.2% compared to the same quarter last year. During the same period last year, the business earned $3.31 EPS. Equities analysts anticipate that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Wednesday, July 9th will be paid a $0.76 dividend. The ex-dividend date of this dividend is Wednesday, July 9th. This represents a $3.04 annualized dividend and a dividend yield of 0.54%. Mastercard's payout ratio is 21.32%.

Insider Buying and Selling at Mastercard

In related news, insider Raj Seshadri sold 1,100 shares of the stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $546.77, for a total value of $601,447.00. Following the completion of the transaction, the insider directly owned 12,921 shares in the company, valued at $7,064,815.17. This trade represents a 7.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Julius Genachowski sold 312 shares of the firm's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $570.67, for a total transaction of $178,049.04. Following the sale, the director owned 8,469 shares of the company's stock, valued at approximately $4,833,004.23. This represents a 3.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,753 shares of company stock valued at $20,351,084 in the last quarter. 0.09% of the stock is owned by insiders.

Mastercard Company 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.