New Millennium Group LLC Purchases 1,466 Shares of Mastercard Incorporated (NYSE:MA)

New Millennium Group LLC boosted its stake in shares of Mastercard Incorporated (NYSE:MA) by 320.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,924 shares of the credit services provider’s stock after buying an additional 1,466 shares during the period. New Millennium Group LLC’s holdings in Mastercard were worth $950,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Highline Wealth Partners LLC bought a new position in shares of Mastercard in the third quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL bought a new position in Mastercard in the 2nd quarter valued at approximately $34,000. Fairway Wealth LLC purchased a new stake in Mastercard during the 2nd quarter valued at $35,000. First Personal Financial Services bought a new stake in shares of Mastercard in the 3rd quarter worth $39,000. Finally, Lowe Wealth Advisors LLC raised its stake in shares of Mastercard by 74.0% in the third quarter. Lowe Wealth Advisors LLC now owns 87 shares of the credit services provider’s stock worth $43,000 after purchasing an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Mastercard Stock Down 0.0 %

Shares of MA opened at $521.63 on Tuesday. The business’s 50 day simple moving average is $504.78 and its 200-day simple moving average is $471.95. Mastercard Incorporated has a 1 year low of $398.26 and a 1 year high of $534.03. The company has a debt-to-equity ratio of 2.36, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market capitalization of $478.77 billion, a price-to-earnings 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 quarterly earnings results 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 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 firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter last year, the firm earned $3.39 EPS. As a group, equities analysts expect that Mastercard Incorporated will post 14.47 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

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

Insiders Place Their Bets

In other Mastercard news, major shareholder Foundation Mastercard sold 90,000 shares of the business’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 completion of the transaction, the insider now owns 91,649,308 shares in the company, valued at $42,965,195,590.40. The trade was a 0.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CMO Venkata R. Madabhushi sold 4,685 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $489.86, for a total value of $2,294,994.10. Following the completion of the sale, the chief marketing officer now owns 15,031 shares in the company, valued at approximately $7,363,085.66. The trade was a 23.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 99,370 shares of company stock valued at $46,797,168 over the last three months. 0.10% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Oppenheimer started coverage on Mastercard in a report on Tuesday, October 1st. They issued an “outperform” rating and a $591.00 price objective for the company. Susquehanna boosted their target price 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. Royal Bank of Canada reissued an “outperform” rating and set a $572.00 price target on shares of Mastercard in a report on Thursday, November 14th. Compass Point assumed coverage on Mastercard in a research report on Wednesday, September 4th. They set a “neutral” rating and a $525.00 price objective for the company. Finally, Morgan Stanley raised their target price on Mastercard from $544.00 to $564.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Mastercard has an average rating of “Moderate Buy” and a consensus target price of $549.16.

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.