Mastercard Incorporated (NYSE:MA) is Gabelli Funds LLC’s 3rd Largest Position

Gabelli Funds LLC reduced its stake in Mastercard Incorporated (NYSE:MA) by 1.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 415,089 shares of the credit services provider’s stock after selling 5,609 shares during the quarter. Mastercard comprises approximately 1.4% of Gabelli Funds LLC’s portfolio, making the stock its 3rd biggest holding. Gabelli Funds LLC’s holdings in Mastercard were worth $183,121,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in MA. VitalStone Financial LLC grew its stake in Mastercard by 300.0% in the 4th quarter. VitalStone Financial LLC now owns 60 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 45 shares during the period. Westend Capital Management LLC acquired a new stake in shares of Mastercard during the first quarter worth $27,000. Palisade Asset Management LLC purchased a new stake in shares of Mastercard in the first quarter valued at $27,000. Scarborough Advisors LLC acquired a new position in Mastercard in the fourth quarter valued at $28,000. Finally, Beaird Harris Wealth Management LLC purchased a new position in Mastercard during the fourth quarter worth about $30,000. Institutional investors and hedge funds own 97.28% of the company’s stock.

Analyst Ratings Changes

MA has been the subject of several recent analyst reports. Citigroup lifted their price target on Mastercard from $528.00 to $538.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Barclays increased their price target on shares of Mastercard from $530.00 to $536.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Argus raised shares of Mastercard to a “strong-buy” rating in a research note on Thursday, August 1st. Piper Sandler upped their price objective on Mastercard from $531.00 to $536.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, KeyCorp lifted their target price on Mastercard from $490.00 to $515.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Five 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 company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $512.08.

Insider Activity

In related news, major shareholder Foundation Mastercard sold 131,000 shares of Mastercard stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $459.46, for a total value of $60,189,260.00. Following the completion of the transaction, the insider now directly owns 92,426,308 shares in the company, valued at $42,466,191,473.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Foundation Mastercard sold 131,000 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $459.46, for a total value of $60,189,260.00. Following the completion of the sale, the insider now directly owns 92,426,308 shares in the company, valued at approximately $42,466,191,473.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Venkata R. Madabhushi sold 4,685 shares of the firm’s stock in a transaction 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 transaction, the chief marketing officer now owns 17,118 shares in the company, valued at $8,440,885.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 605,124 shares of company stock worth $280,045,189. 0.10% of the stock is currently owned by corporate insiders.

Mastercard Stock Down 0.1 %

Shares of NYSE MA opened at $492.74 on Friday. The firm has a market cap of $458.06 billion, a price-to-earnings ratio of 39.17, a PEG ratio of 1.92 and a beta of 1.10. Mastercard Incorporated has a 1 year low of $359.77 and a 1 year high of $501.80. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.14 and a current ratio of 1.14. The stock’s 50-day simple moving average is $466.24 and its 200-day simple moving average is $461.11.

Mastercard (NYSE:MA) last announced its earnings results on Wednesday, July 31st. The credit services provider reported $3.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.51 by $0.08. The company had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.85 billion. Mastercard had a return on equity of 179.78% and a net margin of 46.45%. As a group, equities analysts anticipate that Mastercard Incorporated will post 14.29 earnings per share for the current fiscal year.

Mastercard Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Wednesday, October 9th will be issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 0.54%. The ex-dividend date is Wednesday, October 9th. Mastercard’s dividend payout ratio is currently 20.99%.

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.