Hobart Private Capital LLC Buys New Shares in Mastercard Incorporated $MA

Key Points

• Hobart Private Capital LLC has purchased 624 shares of Mastercard, valued at approximately $351,000, marking a new stake in the company during the second quarter.
• Mastercard reported a 16.8% year-over-year revenue increase with earnings per share of $4.15, exceeding analysts' expectations by $0.10.
• The company's quarterly dividend of $0.76, representing an annualized yield of 0.5%, will be paid on November 7th to shareholders of record on October 9th.

Hobart Private Capital LLC bought a new stake in Mastercard Incorporated (NYSE:MA - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 624 shares of the credit services provider's stock, valued at approximately $351,000.

Other institutional investors have also recently added to or reduced their stakes in the company. LGT Financial Advisors LLC acquired a new position in Mastercard in the second quarter valued at $25,000. Family Legacy Financial Solutions LLC acquired a new position in shares of Mastercard during the second quarter worth about $26,000. Flaharty Asset Management LLC acquired a new position in shares of Mastercard during the first quarter worth about $27,000. Keystone Global Partners LLC acquired a new position in shares of Mastercard during the first quarter worth about $31,000. Finally, IMG Wealth Management Inc. acquired a new position in shares of Mastercard during the second quarter worth about $31,000. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Mastercard Stock Down 0.0%

Shares of Mastercard stock opened at $573.72 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 2.41. The firm has a market cap of $518.65 billion, a P/E ratio of 38.69, a P/E/G ratio of 2.35 and a beta of 0.97. Mastercard Incorporated has a fifty-two week low of $465.59 and a fifty-two week high of $601.77. The business has a 50-day moving average price of $579.51 and a 200 day moving average price of $565.40.

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 for the quarter, beating the consensus estimate of $4.05 by $0.10. The firm had revenue of $8.13 billion during the quarter, compared to analyst estimates of $7.95 billion. Mastercard had a return on equity of 200.01% and a net margin of 44.93%.Mastercard's quarterly revenue was up 16.8% on a year-over-year basis. During the same period in the previous year, the company earned $3.50 earnings per share. On average, sell-side analysts forecast that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Shareholders 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 presently 20.50%.

Analyst Ratings Changes

A number of research analysts have commented on MA shares. Citigroup upgraded Mastercard to a "strong-buy" rating in a research note on Thursday. Weiss Ratings restated a "buy (b)" rating on shares of Mastercard in a research note on Wednesday, October 8th. Wells Fargo & Company upgraded Mastercard to a "strong-buy" rating in a research note on Wednesday. Morgan Stanley lifted their target price on Mastercard from $639.00 to $661.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, Royal Bank Of Canada lifted their target price on Mastercard from $650.00 to $656.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $638.96.

Insider Buying and Selling

In other Mastercard news, CFO J. Mehra Sachin sold 17,816 shares of Mastercard stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $586.89, for a total value of $10,456,032.24. Following the completion of the transaction, the chief financial officer directly owned 31,234 shares in the company, valued at $18,330,922.26. The trade was a 36.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.09% of the stock is currently 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.

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