Patten & Patten Inc. TN cut its stake in shares of Mastercard Incorporated (NYSE:MA - Free Report) by 20.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,484 shares of the credit services provider's stock after selling 1,380 shares during the period. Patten & Patten Inc. TN's holdings in Mastercard were worth $2,708,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in MA. Goldstein Advisors LLC grew its stake in shares of Mastercard by 1.3% in the third quarter. Goldstein Advisors LLC now owns 1,516 shares of the credit services provider's stock valued at $749,000 after buying an additional 20 shares in the last quarter. McLean Asset Management Corp lifted its position in Mastercard by 1.3% in the 3rd quarter. McLean Asset Management Corp now owns 1,677 shares of the credit services provider's stock valued at $834,000 after purchasing an additional 21 shares during the last quarter. Oldfather Financial Services LLC boosted its position in shares of Mastercard by 2.6% during the third quarter. Oldfather Financial Services LLC now owns 827 shares of the credit services provider's stock worth $408,000 after buying an additional 21 shares during the period. Transcendent Capital Group LLC grew its stake in shares of Mastercard by 4.8% in the third quarter. Transcendent Capital Group LLC now owns 455 shares of the credit services provider's stock worth $225,000 after purchasing an additional 21 shares in the last quarter. Finally, Guerra Pan Advisors LLC raised its position in shares of Mastercard by 1.7% during the 3rd quarter. Guerra Pan Advisors LLC now owns 1,225 shares of the credit services provider's stock worth $605,000 after buying an additional 21 shares in the last quarter. 97.28% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:MA opened at $524.76 on Monday. The company has a market capitalization of $481.64 billion, a PE ratio of 39.69, a price-to-earnings-growth ratio of 2.30 and a beta of 1.10. The business has a fifty day moving average price of $499.68 and a two-hundred day moving average price of $468.88. The company has a debt-to-equity ratio of 2.36, a current ratio of 1.29 and a quick ratio of 1.29. Mastercard Incorporated has a 1 year low of $386.74 and a 1 year high of $528.84.
Mastercard (NYSE:MA - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $7.37 billion during the quarter, compared to analyst estimates of $7.27 billion. Mastercard had a net margin of 45.26% and a return on equity of 178.27%. Mastercard's revenue was up 12.8% compared to the same quarter last year. During the same period last year, the business earned $3.39 earnings per share. Analysts forecast that Mastercard Incorporated will post 14.45 earnings per share for the current year.
The company also recently announced 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 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Wednesday, October 9th. Mastercard's payout ratio is 19.97%.
A number of analysts recently weighed in on MA shares. TD Cowen raised their target price on shares of Mastercard from $532.00 to $533.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. Argus upgraded Mastercard to a "strong-buy" rating in a report on Thursday, August 1st. JPMorgan Chase & Co. decreased their price objective on Mastercard from $593.00 to $580.00 and set an "overweight" rating for the company in a research report on Friday, November 1st. Macquarie raised their price target on Mastercard from $505.00 to $565.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Finally, Susquehanna lifted their price objective on shares of Mastercard from $540.00 to $605.00 and gave the company a "positive" rating in a research note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, Mastercard has an average rating of "Moderate Buy" and an average price target of $540.17.
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In other news, CMO Venkata R. Madabhushi sold 4,685 shares of the business's stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $493.10, for a total value of $2,310,173.50. Following the sale, the chief marketing officer now directly owns 17,118 shares of the company's stock, valued at $8,440,885.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Mastercard news, major shareholder Foundation Mastercard sold 90,000 shares of the company's stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $468.80, for a total transaction of $42,192,000.00. Following the transaction, the insider now owns 91,649,308 shares in the company, valued at approximately $42,965,195,590.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 approximately $8,440,885.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 327,370 shares of company stock worth $153,495,958 in the last three months. 0.10% of the stock is owned by insiders.
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.
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