Congress Asset Management Co. Has $16.14 Million Holdings in Mastercard Incorporated (NYSE:MA)

Congress Asset Management Co. reduced its position in Mastercard Incorporated (NYSE:MA) by 0.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,680 shares of the credit services provider’s stock after selling 177 shares during the period. Congress Asset Management Co.’s holdings in Mastercard were worth $16,137,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of MA. Coppell Advisory Solutions Corp. acquired a new position in shares of Mastercard during the 1st quarter valued at about $608,000. SteelPeak Wealth LLC boosted its stake in Mastercard by 48.6% during the 2nd quarter. SteelPeak Wealth LLC now owns 4,928 shares of the credit services provider’s stock valued at $2,174,000 after purchasing an additional 1,612 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in Mastercard during the 1st quarter valued at approximately $2,938,000. OMC Financial Services LTD bought a new stake in Mastercard during the 1st quarter valued at approximately $17,854,000. Finally, Itau Unibanco Holding S.A. bought a new stake in Mastercard during the 2nd quarter valued at approximately $6,850,000. 97.28% of the stock is owned by institutional investors and hedge funds.

Mastercard Stock Down 2.8 %

NYSE MA opened at $499.08 on Friday. The stock has a fifty day moving average of $494.93 and a 200-day moving average of $466.50. The stock has a market capitalization of $461.07 billion, a P/E ratio of 38.16, a price-to-earnings-growth ratio of 2.27 and a beta of 1.10. Mastercard Incorporated has a 52 week low of $373.11 and a 52 week high of $527.90. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.14 and a current ratio of 1.14.

Mastercard (NYSE:MA) last announced its quarterly earnings data on Wednesday, July 31st. The credit services provider reported $3.59 EPS for the quarter, topping analysts’ consensus estimates of $3.51 by $0.08. Mastercard had a return on equity of 179.78% and a net margin of 46.45%. The business had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $6.85 billion. On average, equities research analysts forecast that Mastercard Incorporated will post 14.33 EPS for the current year.

Mastercard Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Wednesday, October 9th will be paid a dividend of $0.66 per share. The ex-dividend date is Wednesday, October 9th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.53%. Mastercard’s dividend payout ratio (DPR) is presently 20.18%.

Analysts Set New Price Targets

Several brokerages recently weighed in on MA. Robert W. Baird increased their target price on Mastercard from $545.00 to $575.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Piper Sandler increased their target price on Mastercard from $531.00 to $536.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Susquehanna raised their price objective on Mastercard from $535.00 to $540.00 and gave the stock a “positive” rating in a research report on Thursday, August 1st. Royal Bank of Canada raised their price objective on Mastercard from $500.00 to $526.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Finally, Compass Point began coverage on Mastercard in a research report on Wednesday, September 4th. They issued a “neutral” rating and a $525.00 price objective for the company. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $525.68.

Insider Buying and Selling

In related news, CMO Venkata R. Madabhushi sold 4,685 shares of Mastercard stock in a transaction on Friday, September 13th. The stock was sold at an average price of $493.10, for a total transaction 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Mastercard news, major shareholder Foundation Mastercard sold 90,000 shares of Mastercard stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $468.80, for a total transaction of $42,192,000.00. Following the transaction, the insider now directly owns 91,649,308 shares in the company, valued at approximately $42,965,195,590.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CMO Venkata R. Madabhushi sold 4,685 shares of Mastercard 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 transaction, the chief marketing officer now owns 17,118 shares in the company, valued at approximately $8,440,885.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 340,809 shares of company stock valued at $159,610,703 over the last three months. Company insiders own 0.10% of the company’s stock.

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.