Mastercard (NYSE:MA) Shares Down 0% – Here’s What Happened

Shares of Mastercard Incorporated (NYSE:MA) dropped 0% during mid-day trading on Wednesday . The stock traded as low as $495.59 and last traded at $496.82. Approximately 366,315 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 2,440,563 shares. The stock had previously closed at $497.06.

Analysts Set New Price Targets

MA has been the topic of several research analyst reports. Argus upgraded Mastercard to a “strong-buy” rating in a report 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 research report on Friday, August 2nd. JPMorgan Chase & Co. upped their price objective on Mastercard from $500.00 to $570.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Susquehanna upped their price objective on Mastercard from $535.00 to $540.00 and gave the stock a “positive” rating in a research report on Thursday, August 1st. Finally, William Blair raised Mastercard to a “strong-buy” rating in a research report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $517.22.

Mastercard Trading Up 0.7 %

The firm has a market capitalization of $465.14 billion, a PE ratio of 39.49, a P/E/G ratio of 1.96 and a beta of 1.10. The business has a 50 day moving average price of $478.54 and a 200-day moving average price of $462.40. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.95.

Mastercard (NYSE:MA) last issued its earnings results on Wednesday, July 31st. The credit services provider reported $3.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.51 by $0.08. The business had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.85 billion. Mastercard had a return on equity of 179.78% and a net margin of 46.45%. Analysts expect that Mastercard Incorporated will post 14.29 earnings per share for the current year.

Mastercard Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Wednesday, October 9th will be issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date is Wednesday, October 9th. Mastercard’s dividend payout ratio is currently 20.99%.

Insider Buying and Selling

In related news, CMO Venkata R. Madabhushi sold 4,685 shares of the company’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 owns 17,118 shares in the company, valued at $8,440,885.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CMO Venkata R. Madabhushi sold 4,685 shares of the company’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 owns 17,118 shares in the company, valued at $8,440,885.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Foundation Mastercard sold 119,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $468.46, for a total value of $55,746,740.00. Following the completion of the sale, the insider now owns 92,033,308 shares in the company, valued at approximately $43,113,923,465.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 340,809 shares of company stock worth $159,610,703 in the last quarter. Company insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Mastercard

A number of large investors have recently bought and sold shares of the stock. McLean Asset Management Corp grew its holdings in Mastercard by 1.3% during the 3rd quarter. McLean Asset Management Corp now owns 1,677 shares of the credit services provider’s stock valued at $834,000 after buying an additional 21 shares during the last quarter. Hoxton Planning & Management LLC boosted its holdings in shares of Mastercard by 1.4% during the first quarter. Hoxton Planning & Management LLC now owns 1,637 shares of the credit services provider’s stock worth $788,000 after purchasing an additional 22 shares during the last quarter. Quilter Plc boosted its holdings in shares of Mastercard by 2.8% during the second quarter. Quilter Plc now owns 801 shares of the credit services provider’s stock worth $353,000 after purchasing an additional 22 shares during the last quarter. Benin Management CORP raised its position in shares of Mastercard by 3.0% in the 1st quarter. Benin Management CORP now owns 794 shares of the credit services provider’s stock worth $382,000 after buying an additional 23 shares during the period. Finally, Atticus Wealth Management LLC raised its position in shares of Mastercard by 1.3% in the 1st quarter. Atticus Wealth Management LLC now owns 1,734 shares of the credit services provider’s stock worth $835,000 after buying an additional 23 shares during the period. Institutional investors and hedge funds own 97.28% of the company’s stock.

About Mastercard

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.