Mastercard Incorporated (NYSE:MA) Shares Acquired by Provence Wealth Management Group

Provence Wealth Management Group boosted its holdings in Mastercard Incorporated (NYSE:MA) by 8.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,096 shares of the credit services provider’s stock after acquiring an additional 168 shares during the period. Provence Wealth Management Group’s holdings in Mastercard were worth $894,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Legacy Financial Advisors Inc. increased its position in Mastercard by 4.2% during the fourth quarter. Legacy Financial Advisors Inc. now owns 3,915 shares of the credit services provider’s stock worth $1,670,000 after purchasing an additional 156 shares during the last quarter. Sapient Capital LLC acquired a new stake in shares of Mastercard in the fourth quarter worth $41,441,000. Axxcess Wealth Management LLC lifted its holdings in shares of Mastercard by 3.4% during the 4th quarter. Axxcess Wealth Management LLC now owns 16,377 shares of the credit services provider’s stock valued at $6,985,000 after acquiring an additional 540 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its position in Mastercard by 562.1% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 89,705 shares of the credit services provider’s stock valued at $38,261,000 after purchasing an additional 76,156 shares during the period. Finally, Summit Global Investments lifted its position in Mastercard by 10.8% during the 4th quarter. Summit Global Investments now owns 5,466 shares of the credit services provider’s stock worth $2,331,000 after acquiring an additional 533 shares in the last quarter. 97.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Michael Miebach sold 7,851 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $475.92, for a total transaction of $3,736,447.92. Following the sale, the chief executive officer now directly owns 47,640 shares of the company’s stock, valued at $22,672,828.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Mastercard news, CMO Venkata R. Madabhushi sold 16,037 shares of Mastercard stock in a transaction on Friday, March 1st. The shares were sold at an average price of $475.94, for a total transaction of $7,632,649.78. Following the completion of the sale, the chief marketing officer now owns 12,255 shares of the company’s stock, valued at approximately $5,832,644.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Miebach sold 7,851 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $475.92, for a total value of $3,736,447.92. Following the completion of the transaction, the chief executive officer now directly owns 47,640 shares in the company, valued at approximately $22,672,828.80. The disclosure for this sale can be found here. Insiders have sold a total of 583,088 shares of company stock worth $266,873,978 in the last 90 days. Corporate insiders own 0.13% of the company’s stock.

Mastercard Price Performance

Shares of NYSE:MA traded up $2.48 on Friday, hitting $443.58. The stock had a trading volume of 3,711,610 shares, compared to its average volume of 2,507,301. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.17 and a current ratio of 1.09. The company has a market capitalization of $413.81 billion, a price-to-earnings ratio of 35.26, a price-to-earnings-growth ratio of 1.72 and a beta of 1.08. Mastercard Incorporated has a twelve month low of $357.85 and a twelve month high of $490.00. The firm’s 50 day moving average price is $469.57 and its 200-day moving average price is $437.74.

Mastercard (NYSE:MA) last announced its earnings results on Wednesday, May 1st. The credit services provider reported $3.31 EPS for the quarter, topping the consensus estimate of $3.22 by $0.09. Mastercard had a return on equity of 183.70% and a net margin of 46.09%. The business had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.34 billion. During the same period in the previous year, the business earned $2.80 EPS. Mastercard’s revenue was up 10.4% compared to the same quarter last year. On average, equities research analysts predict that Mastercard Incorporated will post 14.22 earnings per share for the current year.

Mastercard Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Tuesday, April 9th will be issued a $0.66 dividend. The ex-dividend date is Monday, April 8th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.60%. Mastercard’s dividend payout ratio is 20.99%.

Wall Street Analyst Weigh In

MA has been the topic of a number of recent research reports. JPMorgan Chase & Co. reduced their target price on shares of Mastercard from $520.00 to $510.00 and set an “overweight” rating on the stock in a research report on Thursday. TD Cowen began coverage on Mastercard in a research report on Thursday, April 11th. They set a “buy” rating and a $545.00 target price on the stock. BMO Capital Markets raised their price objective on Mastercard from $480.00 to $490.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. The Goldman Sachs Group raised their price target on shares of Mastercard from $433.00 to $482.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Finally, Wells Fargo & Company upped their price target on shares of Mastercard from $490.00 to $530.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Two equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Mastercard presently has an average rating of “Moderate Buy” and a consensus target price of $493.55.

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.