Balboa Wealth Partners Sells 414 Shares of Mastercard Incorporated (NYSE:MA)

Balboa Wealth Partners lowered its stake in Mastercard Incorporated (NYSE:MA) by 7.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,415 shares of the credit services provider’s stock after selling 414 shares during the quarter. Mastercard comprises approximately 0.7% of Balboa Wealth Partners’ holdings, making the stock its 26th largest holding. Balboa Wealth Partners’ holdings in Mastercard were worth $2,674,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Sarasin & Partners LLP grew its stake in shares of Mastercard by 4.7% during the third quarter. Sarasin & Partners LLP now owns 831,942 shares of the credit services provider’s stock worth $410,813,000 after buying an additional 37,486 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Mastercard by 4.8% during the 3rd quarter. Principal Financial Group Inc. now owns 3,031,915 shares of the credit services provider’s stock valued at $1,497,160,000 after acquiring an additional 138,842 shares during the period. Coppell Advisory Solutions Corp. bought a new position in Mastercard in the 1st quarter worth approximately $608,000. SteelPeak Wealth LLC lifted its stake in Mastercard by 48.6% in the 2nd quarter. SteelPeak Wealth LLC now owns 4,928 shares of the credit services provider’s stock worth $2,174,000 after purchasing an additional 1,612 shares in the last quarter. Finally, OMC Financial Services LTD purchased a new stake in shares of Mastercard during the 1st quarter valued at $17,854,000. Institutional investors and hedge funds own 97.28% of the company’s stock.

Wall Street Analysts Forecast Growth

MA has been the topic of several analyst reports. BMO Capital Markets upped their target price on shares of Mastercard from $550.00 to $565.00 and gave the stock an “outperform” rating in a research note on Thursday. Macquarie raised their target price on shares of Mastercard from $505.00 to $565.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. JPMorgan Chase & Co. cut their target price on shares of Mastercard from $593.00 to $580.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Piper Sandler reissued an “overweight” rating and set a $565.00 target price (up previously from $536.00) on shares of Mastercard in a research report on Friday, November 1st. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $572.00 target price on shares of Mastercard in a research note on Thursday. Four investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Mastercard has a consensus rating of “Moderate Buy” and an average target price of $547.40.

Mastercard Stock Down 0.3 %

Shares of NYSE:MA opened at $520.40 on Friday. 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 firm has a market cap of $477.64 billion, a P/E ratio of 39.36, a PEG ratio of 2.28 and a beta of 1.10. The business’s 50 day simple moving average is $502.32 and its two-hundred day simple moving average is $470.24. Mastercard Incorporated has a 52-week low of $394.76 and a 52-week high of $534.03.

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

Mastercard Announces Dividend

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

Insider Transactions at Mastercard

In other news, major shareholder Foundation Mastercard sold 109,000 shares of the firm’s stock in a transaction 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 directly owns 91,924,308 shares in the company, valued at approximately $42,970,017,774.60. This trade represents a 0.12 % 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, CMO Venkata R. Madabhushi sold 4,685 shares of Mastercard stock in a transaction on Friday, September 20th. The shares were sold at an average price of $489.86, for a total transaction of $2,294,994.10. Following the completion of the transaction, the chief marketing officer now owns 15,031 shares in the company, valued at approximately $7,363,085.66. This represents a 23.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 208,370 shares of company stock valued at $97,749,218. Corporate insiders own 0.10% of the company’s stock.

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.