King Wealth Management Group Has $8.17 Million Holdings in Mastercard Incorporated (NYSE:MA)

King Wealth Management Group decreased its holdings in Mastercard Incorporated (NYSE:MA) by 3.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,552 shares of the credit services provider’s stock after selling 576 shares during the quarter. Mastercard accounts for approximately 1.3% of King Wealth Management Group’s holdings, making the stock its 22nd biggest holding. King Wealth Management Group’s holdings in Mastercard were worth $8,173,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Highline Wealth Partners LLC acquired a new position in Mastercard during the third quarter worth $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Mastercard in the 2nd quarter valued at $34,000. Fairway Wealth LLC bought a new stake in shares of Mastercard during the second quarter worth approximately $35,000. First Personal Financial Services bought a new position in shares of Mastercard in the 3rd quarter worth $39,000. Finally, Lowe Wealth Advisors LLC grew its stake in shares of Mastercard by 74.0% during the third quarter. Lowe Wealth Advisors LLC now owns 87 shares of the credit services provider’s stock worth $43,000 after purchasing an additional 37 shares during the period. 97.28% of the stock is owned by institutional investors.

Mastercard Price Performance

Shares of NYSE:MA opened at $520.40 on Friday. The firm has a 50 day simple moving average of $502.32 and a 200 day simple moving average of $470.24. The company has a market cap of $477.64 billion, a price-to-earnings ratio of 39.36, a PEG ratio of 2.28 and a beta of 1.10. Mastercard Incorporated has a one year low of $394.76 and a one year high of $534.03. The company has a debt-to-equity ratio of 2.36, a current ratio of 1.29 and a quick ratio of 1.29.

Mastercard (NYSE:MA) last issued its quarterly earnings data on Thursday, October 31st. The credit services provider reported $3.89 earnings per share for the quarter, topping analysts’ consensus estimates of $3.73 by $0.16. The business had revenue of $7.37 billion for the quarter, compared to analyst estimates of $7.27 billion. Mastercard had a return on equity of 178.27% and a net margin of 45.26%. Mastercard’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.39 EPS. Research analysts predict that Mastercard Incorporated will post 14.45 earnings per share for the current fiscal year.

Mastercard Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Wednesday, October 9th were given a dividend of $0.66 per share. The ex-dividend date was Wednesday, October 9th. This represents a $2.64 annualized dividend and a yield of 0.51%. Mastercard’s dividend payout ratio is presently 19.97%.

Insider Buying and Selling at Mastercard

In related news, CMO Venkata R. Madabhushi sold 4,685 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $493.10, for a total value of $2,310,173.50. Following the completion of the sale, the chief marketing officer now directly owns 17,118 shares of the company’s stock, valued at $8,440,885.80. The trade was a 21.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Foundation Mastercard sold 109,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $467.45, for a total value of $50,952,050.00. Following the sale, the insider now owns 91,924,308 shares of the company’s stock, valued at approximately $42,970,017,774.60. This represents a 0.12 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 208,370 shares of company stock worth $97,749,218. 0.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Morgan Stanley increased their price target on shares of Mastercard from $544.00 to $564.00 and gave the company an “overweight” rating in a research report on Thursday. Bank of America increased their price objective on Mastercard from $480.00 to $509.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Piper Sandler reiterated an “overweight” rating and set a $575.00 price objective (up previously from $565.00) on shares of Mastercard in a research note on Friday. Barclays boosted their price target on Mastercard from $536.00 to $576.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, Argus raised shares of Mastercard to a “strong-buy” rating in a research report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $547.80.

Mastercard 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.