Providence Wealth Advisors LLC Buys 105 Shares of Mastercard Incorporated (NYSE:MA)

Providence Wealth Advisors LLC increased its stake in Mastercard Incorporated (NYSE:MA) by 4.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,688 shares of the credit services provider’s stock after purchasing an additional 105 shares during the quarter. Providence Wealth Advisors LLC’s holdings in Mastercard were worth $1,380,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. FMR LLC raised its holdings in Mastercard by 3.4% during the 3rd quarter. FMR LLC now owns 21,355,081 shares of the credit services provider’s stock valued at $10,545,139,000 after acquiring an additional 700,769 shares during the period. International Assets Investment Management LLC raised its holdings in Mastercard by 120,665.3% during the 3rd quarter. International Assets Investment Management LLC now owns 8,041,758 shares of the credit services provider’s stock valued at $3,971,020,000 after acquiring an additional 8,035,099 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Mastercard by 1.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,308,684 shares of the credit services provider’s stock valued at $3,115,228,000 after acquiring an additional 64,456 shares during the period. Bank of Montreal Can grew its position in shares of Mastercard by 51.7% during the 3rd quarter. Bank of Montreal Can now owns 5,765,714 shares of the credit services provider’s stock valued at $2,846,187,000 after purchasing an additional 1,965,782 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of Mastercard by 1.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,082,729 shares of the credit services provider’s stock valued at $2,241,297,000 after purchasing an additional 71,569 shares in the last quarter. Institutional investors own 97.28% of the company’s stock.

Insider Activity

In related news, CMO Venkata R. Madabhushi sold 4,685 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $489.86, for a total value of $2,294,994.10. Following the completion of the transaction, the chief marketing officer now directly owns 15,031 shares of the company’s stock, valued at $7,363,085.66. This represents a 23.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

MA has been the subject of a number of recent analyst reports. Macquarie boosted their price target on shares of Mastercard from $505.00 to $565.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. KeyCorp boosted their price target on shares of Mastercard from $515.00 to $580.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. BMO Capital Markets boosted their price target on shares of Mastercard from $550.00 to $565.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. Morgan Stanley boosted their price target on shares of Mastercard from $544.00 to $564.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Mastercard from $593.00 to $580.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Mastercard presently has a consensus rating of “Moderate Buy” and an average price target of $549.16.

Mastercard Stock Performance

Shares of NYSE:MA opened at $532.38 on Friday. The company has a market cap of $488.63 billion, a price-to-earnings ratio of 40.27, a price-to-earnings-growth ratio of 2.37 and a beta of 1.10. The company has a 50-day moving average price of $509.57 and a 200-day moving average price of $475.63. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 2.36. Mastercard Incorporated has a 12 month low of $404.32 and a 12 month high of $534.03.

Mastercard (NYSE:MA) last issued its quarterly earnings data on Thursday, October 31st. The credit services provider reported $3.89 EPS for the quarter, beating the consensus estimate of $3.73 by $0.16. The firm had revenue of $7.37 billion during the quarter, compared to the consensus estimate of $7.27 billion. Mastercard had a net margin of 45.26% and a return on equity of 178.27%. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.39 earnings per share. As a group, equities analysts anticipate that Mastercard Incorporated will post 14.47 EPS for the current year.

Mastercard Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th were paid a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Wednesday, October 9th. Mastercard’s dividend payout ratio (DPR) is 19.97%.

About Mastercard

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.