VCI Wealth Management LLC Grows Stock Holdings in Mastercard Incorporated $MA

Key Points

• VCI Wealth Management LLC increased its stake in Mastercard by 8.4% during Q2, holding 5,993 shares worth $3,368,000.
• Mastercard's stock has received strong support from analysts, with an average rating of "Buy" and a consensus price target of $634.04.
• The company declared a $0.76 quarterly dividend, equating to an annualized dividend yield of 0.5%, set to be paid on November 7th.

VCI Wealth Management LLC raised its holdings in Mastercard Incorporated (NYSE:MA - Free Report) by 8.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 5,993 shares of the credit services provider's stock after acquiring an additional 463 shares during the period. Mastercard accounts for about 1.2% of VCI Wealth Management LLC's holdings, making the stock its 20th biggest position. VCI Wealth Management LLC's holdings in Mastercard were worth $3,368,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MA. TD Cowen reissued a "buy" rating and set a $645.00 price objective on shares of Mastercard in a research note on Monday, August 11th. Royal Bank Of Canada boosted their price target on Mastercard from $650.00 to $656.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Deutsche Bank Aktiengesellschaft started coverage on Mastercard in a report on Thursday, July 17th. They issued a "buy" rating and a $650.00 price objective on the stock. Wolfe Research set a $655.00 price objective on shares of Mastercard in a research note on Monday, June 23rd. Finally, KeyCorp increased their target price on Mastercard from $635.00 to $660.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, Mastercard has an average rating of "Buy" and a consensus price target of $634.04.

Insider Activity

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

Mastercard Stock Performance

Shares of Mastercard stock opened at $566.35 on Tuesday. 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 Incorporated has a 1 year low of $465.59 and a 1 year high of $601.77. The firm's 50-day simple moving average is $580.07 and its 200-day simple moving average is $564.03. The firm has a market cap of $511.99 billion, a PE ratio of 38.19, a price-to-earnings-growth ratio of 2.30 and a beta of 0.97.

Mastercard (NYSE:MA - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The credit services provider reported $4.15 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $7.95 billion. During the same period last year, the firm earned $3.50 earnings per share. The company's revenue for the quarter was up 16.8% compared to the same quarter last year. Equities analysts forecast that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Announces Dividend

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