Icon Wealth Advisors LLC Sells 11,350 Shares of Mastercard Incorporated (NYSE:MA)

Icon Wealth Advisors LLC lessened its holdings in shares of Mastercard Incorporated (NYSE:MA) by 86.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,782 shares of the credit services provider’s stock after selling 11,350 shares during the period. Icon Wealth Advisors LLC’s holdings in Mastercard were worth $880,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. International Assets Investment Management LLC grew 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 worth $3,971,020,000 after acquiring an additional 8,035,099 shares during the period. Swedbank AB acquired a new stake in shares of Mastercard during the first quarter worth $660,652,000. PineStone Asset Management Inc. increased its holdings in Mastercard by 145.6% in the second quarter. PineStone Asset Management Inc. now owns 1,777,468 shares of the credit services provider’s stock valued at $784,148,000 after purchasing an additional 1,053,616 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in Mastercard in the second quarter valued at about $259,071,000. Finally, Lone Pine Capital LLC boosted its holdings in Mastercard by 53.4% during the second quarter. Lone Pine Capital LLC now owns 1,043,557 shares of the credit services provider’s stock worth $460,376,000 after buying an additional 363,133 shares during the last quarter. 97.28% of the stock is owned by institutional investors.

Mastercard Trading Up 1.1 %

Shares of Mastercard stock opened at $520.76 on Friday. Mastercard Incorporated has a 1 year low of $404.32 and a 1 year high of $534.03. The company has a market capitalization of $477.97 billion, a price-to-earnings ratio of 39.39, a P/E/G ratio of 2.29 and a beta of 1.10. The business has a fifty day simple moving average of $506.91 and a two-hundred day simple moving average of $473.55. 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 (NYSE:MA) last posted its earnings results on Thursday, October 31st. The credit services provider reported $3.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.73 by $0.16. The company had revenue of $7.37 billion during the quarter, compared to analysts’ expectations of $7.27 billion. Mastercard had a net margin of 45.26% and a return on equity of 178.27%. Mastercard’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the company posted $3.39 EPS. Research analysts forecast that Mastercard Incorporated will post 14.47 EPS for the current year.

Mastercard Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Wednesday, October 9th were issued a dividend of $0.66 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $2.64 annualized dividend and a yield of 0.51%. Mastercard’s payout ratio is currently 19.97%.

Insider Buying and Selling at Mastercard

In other news, CMO Venkata R. Madabhushi sold 4,685 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief marketing officer now directly owns 15,031 shares of the company’s stock, valued at approximately $7,363,085.66. This trade represents a 23.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. KeyCorp upped their price target on Mastercard from $515.00 to $580.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Mizuho upped their target price on shares of Mastercard from $496.00 to $532.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Argus raised shares of Mastercard to a “strong-buy” rating in a research report on Thursday, August 1st. BNP Paribas cut Mastercard from an “outperform” rating to a “neutral” rating and set a $470.00 target price for the company. in a research note on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. cut their price objective on Mastercard from $593.00 to $580.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Four equities research 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’s stock. Based on data from MarketBeat.com, Mastercard has a consensus rating of “Moderate Buy” and a consensus target price of $549.16.

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.