Mastercard Incorporated $MA Shares Sold by Elite Wealth Management Inc.

Key Points

• Elite Wealth Management Inc. has reduced its stake in Mastercard by 56.7%, owning 5,637 shares after selling 7,368 shares in the 2nd quarter.
• Mastercard's stock price recently opened at $563.77 with a market cap of $509.65 billion, and it has reported a revenue increase of 16.8% year-over-year.
• The company will pay a quarterly dividend of $0.76 on November 7th, representing an annualized yield of 0.5%.

Elite Wealth Management Inc. lessened its stake in Mastercard Incorporated (NYSE:MA - Free Report) by 56.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,637 shares of the credit services provider's stock after selling 7,368 shares during the period. Mastercard accounts for about 1.0% of Elite Wealth Management Inc.'s holdings, making the stock its 11th biggest position. Elite Wealth Management Inc.'s holdings in Mastercard were worth $3,168,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Family Legacy Financial Solutions LLC acquired a new position in Mastercard in the 2nd quarter valued at about $26,000. Flaharty Asset Management LLC acquired a new position in Mastercard during the 1st quarter worth approximately $27,000. Keystone Global Partners LLC acquired a new position in Mastercard during the 1st quarter worth approximately $31,000. Hughes Financial Services LLC acquired a new position in Mastercard during the 1st quarter worth approximately $34,000. Finally, 1 North Wealth Services LLC acquired a new position in Mastercard during the 1st quarter worth approximately $44,000. Institutional investors and hedge funds own 97.28% of the company's stock.

Mastercard Price Performance

Shares of Mastercard stock opened at $563.77 on Friday. Mastercard Incorporated has a twelve month low of $465.59 and a twelve month high of $601.77. The stock has a market capitalization of $509.65 billion, a P/E ratio of 38.02, a PEG ratio of 2.36 and a beta of 0.97. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 2.41. The business's fifty day moving average price is $581.06 and its 200 day moving average price is $562.68.

Mastercard (NYSE:MA - Get Free Report) last issued its earnings results on Thursday, July 31st. The credit services provider reported $4.15 earnings per share 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 firm had revenue of $8.13 billion for the quarter, compared to analysts' expectations of $7.95 billion. During the same quarter last year, the firm earned $3.50 earnings per share. The firm's revenue for the quarter was up 16.8% compared to the same quarter last year. As a group, research analysts anticipate that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Announces Dividend

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

Insiders Place Their Bets

In related news, CFO J. Mehra Sachin sold 17,816 shares of Mastercard stock in a transaction 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 transaction, the chief financial officer owned 31,234 shares in the company, valued at approximately $18,330,922.26. This trade represents a 36.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.09% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Wolfe Research set a $655.00 target price on Mastercard in a research report on Monday, June 23rd. Weiss Ratings reiterated a "buy (b)" rating on shares of Mastercard in a research report on Wednesday. Truist Financial dropped their target price on Mastercard from $640.00 to $612.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. Morgan Stanley boosted 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, Wells Fargo & Company boosted their target price on Mastercard from $625.00 to $650.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Mastercard currently has an average rating of "Buy" and an average price target of $634.04.

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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