Harvey Capital Management Inc. raised its stake in Mastercard Incorporated (NYSE:MA) by 18.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,522 shares of the credit services provider’s stock after buying an additional 1,994 shares during the quarter. Mastercard accounts for about 1.9% of Harvey Capital Management Inc.’s holdings, making the stock its 17th biggest position. Harvey Capital Management Inc.’s holdings in Mastercard were worth $4,234,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently added to or reduced their stakes in MA. Carolina Wealth Advisors LLC acquired a new stake in shares of Mastercard during the 3rd quarter valued at about $30,000. Newfound Research LLC bought a new stake in Mastercard during the third quarter worth approximately $34,000. Larson Financial Group LLC boosted its position in Mastercard by 55.2% during the third quarter. Larson Financial Group LLC now owns 104 shares of the credit services provider’s stock worth $35,000 after purchasing an additional 37 shares during the period. Evolution Wealth Advisors LLC grew its holdings in Mastercard by 530.4% during the second quarter. Evolution Wealth Advisors LLC now owns 145 shares of the credit services provider’s stock valued at $43,000 after purchasing an additional 122 shares during the last quarter. Finally, Virtus Alternative Investment Advisers Inc. bought a new position in shares of Mastercard in the second quarter valued at approximately $46,000. Institutional investors own 73.72% of the company’s stock.
MA has been the topic of a number of research analyst reports. Bank of America raised their target price on shares of Mastercard from $324.00 to $358.00 and gave the company a “neutral” rating in a research note on Thursday, August 27th. Barclays raised their price target on Mastercard from $360.00 to $385.00 and gave the company an “overweight” rating in a research report on Monday, September 21st. Truist boosted their price objective on Mastercard from $375.00 to $415.00 in a research report on Friday, August 28th. Morgan Stanley raised their target price on Mastercard from $338.00 to $359.00 and gave the company an “overweight” rating in a report on Monday. Finally, Daiwa Capital Markets reaffirmed a “neutral” rating and issued a $314.00 price target on shares of Mastercard in a research report on Tuesday, July 21st. Five research analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. Mastercard presently has an average rating of “Buy” and an average price target of $349.13.
Mastercard (NYSE:MA) last released its quarterly earnings data on Wednesday, October 28th. The credit services provider reported $1.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.05). Mastercard had a return on equity of 129.52% and a net margin of 45.12%. Equities analysts anticipate that Mastercard Incorporated will post 6.61 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Friday, October 9th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.55%. The ex-dividend date is Thursday, October 8th. Mastercard’s dividend payout ratio is currently 20.59%.
In other news, insider Michael Fraccaro sold 3,458 shares of the stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $350.00, for a total value of $1,210,300.00. Following the completion of the transaction, the insider now owns 5,147 shares of the company’s stock, valued at $1,801,450. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Foundation Mastercard sold 30,100 shares of the firm’s stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $320.69, for a total transaction of $9,652,769.00. Following the completion of the sale, the insider now owns 109,517,113 shares in the company, valued at approximately $35,121,042,967.97. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 210,567 shares of company stock worth $69,756,194. Company insiders own 3.79% of the company’s stock.
Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers related products and services.
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