First Trust Direct Indexing L.P. Has $13.31 Million Position in Mastercard Incorporated (NYSE:MA)

First Trust Direct Indexing L.P. lifted its stake in shares of Mastercard Incorporated (NYSE:MA) by 15.8% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 26,944 shares of the credit services provider’s stock after buying an additional 3,674 shares during the quarter. Mastercard comprises about 0.7% of First Trust Direct Indexing L.P.’s portfolio, making the stock its 17th largest holding. First Trust Direct Indexing L.P.’s holdings in Mastercard were worth $13,305,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Albion Financial Group UT increased its holdings in Mastercard by 4.0% in the 1st quarter. Albion Financial Group UT now owns 866 shares of the credit services provider’s stock valued at $417,000 after buying an additional 33 shares during the period. Valley National Advisers Inc. boosted its holdings in shares of Mastercard by 8.5% in the 1st quarter. Valley National Advisers Inc. now owns 885 shares of the credit services provider’s stock valued at $426,000 after purchasing an additional 69 shares in the last quarter. Tempus Wealth Planning LLC grew its position in Mastercard by 8.6% in the first quarter. Tempus Wealth Planning LLC now owns 659 shares of the credit services provider’s stock valued at $317,000 after acquiring an additional 52 shares during the last quarter. ZRC Wealth Management LLC raised its stake in Mastercard by 67.9% during the first quarter. ZRC Wealth Management LLC now owns 220 shares of the credit services provider’s stock worth $106,000 after acquiring an additional 89 shares in the last quarter. Finally, AMI Asset Management Corp lifted its holdings in shares of Mastercard by 2.5% in the first quarter. AMI Asset Management Corp now owns 90,989 shares of the credit services provider’s stock worth $43,818,000 after acquiring an additional 2,230 shares during the last quarter. Institutional investors own 97.28% of the company’s stock.

Mastercard Trading Up 1.5 %

Shares of Mastercard stock traded up $7.65 on Wednesday, reaching $513.93. 984,400 shares of the company’s stock were exchanged, compared to its average volume of 2,419,184. The firm’s 50-day moving average is $493.40 and its two-hundred day moving average is $465.94. The company has a market capitalization of $474.79 billion, a P/E ratio of 39.28, a price-to-earnings-growth ratio of 2.27 and a beta of 1.10. 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 Incorporated has a 52 week low of $373.11 and a 52 week high of $518.82.

Mastercard (NYSE:MA) last posted its quarterly earnings results 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 net margin of 46.45% and a return on equity of 179.78%. The business had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $6.85 billion. Sell-side analysts predict that Mastercard Incorporated will post 14.32 EPS for the current fiscal year.

Mastercard Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th will be paid a $0.66 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $2.64 annualized dividend and a dividend yield of 0.51%. Mastercard’s dividend payout ratio is presently 20.18%.

Analyst Ratings Changes

MA has been the subject of a number of research analyst reports. Bank of America upped their price objective on shares of Mastercard from $480.00 to $509.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. Argus upgraded Mastercard to a “strong-buy” rating in a research note on Thursday, August 1st. Citigroup raised their price objective on Mastercard from $528.00 to $538.00 and gave the company a “buy” rating in a report on Thursday, August 1st. William Blair raised Mastercard to a “strong-buy” rating in a report on Wednesday, July 31st. Finally, Compass Point started coverage on Mastercard in a research report on Wednesday, September 4th. They issued a “neutral” rating and a $525.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Mastercard has an average rating of “Moderate Buy” and an average target price of $525.68.

Insider Activity at Mastercard

In other Mastercard news, CFO J. Mehra Sachin sold 13,439 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $455.00, for a total value of $6,114,745.00. Following the completion of the sale, the chief financial officer now owns 27,304 shares of the company’s stock, valued at approximately $12,423,320. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO J. Mehra Sachin sold 13,439 shares of Mastercard stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $455.00, for a total transaction of $6,114,745.00. Following the completion of the transaction, the chief financial officer now directly owns 27,304 shares in the company, valued at $12,423,320. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Venkata R. Madabhushi sold 4,685 shares of the company’s stock in a transaction dated 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 owns 17,118 shares in the company, valued at $8,440,885.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 340,809 shares of company stock valued at $159,610,703 in the last three months. 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.