RKL Wealth Management LLC Has $9.88 Million Stock Holdings in Mastercard Incorporated (NYSE:MA)

RKL Wealth Management LLC reduced its stake in shares of Mastercard Incorporated (NYSE:MA) by 1.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,004 shares of the credit services provider’s stock after selling 239 shares during the quarter. Mastercard accounts for 0.9% of RKL Wealth Management LLC’s holdings, making the stock its 23rd biggest holding. RKL Wealth Management LLC’s holdings in Mastercard were worth $9,878,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. International Assets Investment Management LLC grew its stake in Mastercard by 120,665.3% during the third quarter. International Assets Investment Management LLC now owns 8,041,758 shares of the credit services provider’s stock worth $3,971,020,000 after buying an additional 8,035,099 shares in the last quarter. Swedbank AB bought a new stake in shares of Mastercard during the 1st quarter worth approximately $660,652,000. PineStone Asset Management Inc. boosted its position in shares of Mastercard by 145.6% during the 2nd quarter. PineStone Asset Management Inc. now owns 1,777,468 shares of the credit services provider’s stock worth $784,148,000 after acquiring an additional 1,053,616 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in Mastercard in the second quarter valued at approximately $259,071,000. Finally, Capital World Investors raised its position in Mastercard by 13.3% during the first quarter. Capital World Investors now owns 3,293,617 shares of the credit services provider’s stock valued at $1,586,107,000 after purchasing an additional 387,317 shares in the last quarter. Institutional investors own 97.28% of the company’s stock.

Mastercard Stock Up 1.3 %

Shares of NYSE MA opened at $524.76 on Friday. Mastercard Incorporated has a 52-week low of $386.74 and a 52-week high of $528.84. The company has a debt-to-equity ratio of 2.36, a quick ratio of 1.29 and a current ratio of 1.29. The company’s 50 day moving average price is $499.68 and its 200-day moving average price is $468.84. The company has a market capitalization of $481.64 billion, a P/E ratio of 39.69, a price-to-earnings-growth ratio of 2.28 and a beta of 1.10.

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

Mastercard Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Wednesday, October 9th were issued a $0.66 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $2.64 dividend on an annualized basis and a yield of 0.50%. Mastercard’s payout ratio is currently 19.97%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on MA shares. Robert W. Baird raised their target price on Mastercard from $545.00 to $575.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Macquarie raised their price objective on Mastercard from $505.00 to $565.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Oppenheimer began coverage on Mastercard in a research note on Tuesday, October 1st. They set an “outperform” rating and a $591.00 target price for the company. KeyCorp raised their price target on shares of Mastercard from $515.00 to $580.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Finally, TD Cowen upped their price objective on shares of Mastercard from $532.00 to $533.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $540.17.

Insider Buying and Selling at Mastercard

In other news, major shareholder Foundation Mastercard sold 119,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $468.46, for a total transaction of $55,746,740.00. Following the completion of the sale, the insider now owns 92,033,308 shares of the company’s stock, valued at $43,113,923,465.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, major shareholder Foundation Mastercard sold 119,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $468.46, for a total value of $55,746,740.00. Following the completion of the sale, the insider now directly owns 92,033,308 shares in the company, valued at $43,113,923,465.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CMO Venkata R. Madabhushi sold 4,685 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $493.10, for a total transaction of $2,310,173.50. Following the sale, the chief marketing officer now owns 17,118 shares of the company’s stock, valued at $8,440,885.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 327,370 shares of company stock valued at $153,495,958. 0.10% of the stock is currently owned by company insiders.

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.