Fortune Financial Advisors LLC Reduces Position in Mastercard Incorporated (NYSE:MA)

Fortune Financial Advisors LLC cut its position in shares of Mastercard Incorporated (NYSE:MA) by 18.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,224 shares of the credit services provider’s stock after selling 1,438 shares during the period. Mastercard comprises 2.8% of Fortune Financial Advisors LLC’s portfolio, making the stock its 7th biggest position. Fortune Financial Advisors LLC’s holdings in Mastercard were worth $3,074,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Goldstein Advisors LLC boosted its stake in Mastercard by 1.3% in the third quarter. Goldstein Advisors LLC now owns 1,516 shares of the credit services provider’s stock valued at $749,000 after acquiring an additional 20 shares in the last quarter. McLean Asset Management Corp boosted its position in shares of Mastercard by 1.3% in the 3rd quarter. McLean Asset Management Corp now owns 1,677 shares of the credit services provider’s stock valued at $834,000 after purchasing an additional 21 shares during the period. Quilter Plc grew its stake in Mastercard by 2.8% during the 2nd quarter. Quilter Plc now owns 801 shares of the credit services provider’s stock worth $353,000 after buying an additional 22 shares during the last quarter. Cornerstone Wealth Management LLC increased its holdings in shares of Mastercard by 0.5% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 4,351 shares of the credit services provider’s stock valued at $2,148,000 after acquiring an additional 22 shares during the period. Finally, Lafayette Investments Inc. lifted its position in Mastercard by 4.4% during the 3rd quarter. Lafayette Investments Inc. now owns 524 shares of the credit services provider’s stock worth $259,000 after acquiring an additional 22 shares during the period. 97.28% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CMO Venkata R. Madabhushi sold 4,685 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $489.86, for a total transaction of $2,294,994.10. Following the completion of the sale, the chief marketing officer now directly owns 15,031 shares in the company, valued at $7,363,085.66. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CMO Venkata R. Madabhushi sold 4,685 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $489.86, for a total transaction of $2,294,994.10. Following the completion of the sale, the chief marketing officer now owns 15,031 shares in the company, valued at approximately $7,363,085.66. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Foundation Mastercard sold 119,000 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $468.46, for a total transaction of $55,746,740.00. Following the sale, the insider now directly owns 92,033,308 shares of the company’s stock, valued at approximately $43,113,923,465.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 340,809 shares of company stock valued at $159,610,703 over the last quarter. Company insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MA. Susquehanna lifted their price target on Mastercard from $535.00 to $540.00 and gave the company a “positive” rating in a research note on Thursday, August 1st. BNP Paribas cut shares of Mastercard from an “outperform” rating to a “neutral” rating and set a $470.00 price target on the stock. in a research note on Tuesday, September 3rd. TD Cowen increased their price target on shares of Mastercard from $532.00 to $533.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Argus raised shares of Mastercard to a “strong-buy” rating in a report on Thursday, August 1st. Finally, Citigroup increased their target price on shares of Mastercard from $528.00 to $538.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Four analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $525.68.

Mastercard Price Performance

MA stock opened at $507.36 on Friday. The stock has a market capitalization of $471.65 billion, a price-to-earnings ratio of 40.33, a price-to-earnings-growth ratio of 2.27 and a beta of 1.10. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.95. Mastercard Incorporated has a 52-week low of $359.77 and a 52-week high of $518.82. The stock’s fifty day simple moving average is $491.84 and its 200-day simple moving average is $465.39.

Mastercard (NYSE:MA) last issued its quarterly earnings results on Wednesday, July 31st. The credit services provider reported $3.59 earnings per share (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 firm had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.85 billion. Equities research analysts expect that Mastercard Incorporated will post 14.32 EPS for the current year.

Mastercard Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Wednesday, October 9th will be given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 0.52%. The ex-dividend date is Wednesday, October 9th. Mastercard’s dividend payout ratio (DPR) is 20.99%.

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.