PNC Financial Services Group Inc. Has $423.91 Million Stake in Mastercard Incorporated (NYSE:MA)

PNC Financial Services Group Inc. raised its position in Mastercard Incorporated (NYSE:MA) by 0.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 858,473 shares of the credit services provider’s stock after buying an additional 2,980 shares during the quarter. PNC Financial Services Group Inc. owned about 0.09% of Mastercard worth $423,914,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Highline Wealth Partners LLC bought a new position in Mastercard in the third quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Mastercard in the 2nd quarter valued at $34,000. Fairway Wealth LLC bought a new position in shares of Mastercard in the 2nd quarter valued at $35,000. First Personal Financial Services acquired a new position in shares of Mastercard during the 3rd quarter worth $39,000. Finally, Lowe Wealth Advisors LLC lifted its position in shares of Mastercard by 74.0% during the 3rd quarter. Lowe Wealth Advisors LLC now owns 87 shares of the credit services provider’s stock worth $43,000 after buying an additional 37 shares during the last quarter. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Argus upgraded Mastercard to a “strong-buy” rating in a research report on Thursday, August 1st. Barclays lifted their price target on shares of Mastercard from $536.00 to $576.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Robert W. Baird increased their price objective on shares of Mastercard from $545.00 to $575.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. KeyCorp boosted their target price on shares of Mastercard from $515.00 to $580.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Finally, BNP Paribas downgraded shares of Mastercard from an “outperform” rating to a “neutral” rating and set a $470.00 price target for the company. in a report on Tuesday, September 3rd. Four research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Mastercard has an average rating of “Moderate Buy” and an average price target of $549.16.

Insider Activity at Mastercard

In other news, major shareholder Foundation Mastercard sold 90,000 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $468.80, for a total transaction of $42,192,000.00. Following the transaction, the insider now directly owns 91,649,308 shares of the company’s stock, valued at $42,965,195,590.40. This represents a 0.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CMO Venkata R. Madabhushi sold 4,685 shares of Mastercard 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 completion of the sale, the chief marketing officer now directly owns 17,118 shares of the company’s stock, valued at approximately $8,440,885.80. The trade was a 21.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 99,370 shares of company stock worth $46,797,168 in the last quarter. Company insiders own 0.10% of the company’s stock.

Mastercard Stock Performance

Shares of MA opened at $521.63 on Tuesday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 2.36. The firm’s fifty day simple moving average is $504.78 and its two-hundred day simple moving average is $471.95. Mastercard Incorporated has a 12 month low of $398.26 and a 12 month high of $534.03. The stock has a market capitalization of $478.77 billion, a P/E ratio of 39.46, a price-to-earnings-growth ratio of 2.32 and a beta of 1.10.

Mastercard (NYSE:MA) last announced its earnings results 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 company had revenue of $7.37 billion for the quarter, compared to analyst estimates of $7.27 billion. Mastercard had a return on equity of 178.27% and a net margin of 45.26%. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.39 EPS. As a group, analysts predict that Mastercard Incorporated will post 14.47 EPS for the current year.

Mastercard Dividend Announcement

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

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.