Elite Wealth Management Inc. Sells 445 Shares of Mastercard Incorporated (NYSE:MA)

Elite Wealth Management Inc. reduced its holdings in shares of Mastercard Incorporated (NYSE:MA) by 3.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 14,011 shares of the credit services provider’s stock after selling 445 shares during the period. Mastercard comprises 0.4% of Elite Wealth Management Inc.’s portfolio, making the stock its 11th biggest position. Elite Wealth Management Inc.’s holdings in Mastercard were worth $5,976,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. LFA Lugano Financial Advisors SA purchased a new stake in shares of Mastercard in the 4th quarter worth $27,000. Hibernia Wealth Partners LLC purchased a new stake in Mastercard in the third quarter worth about $27,000. Strategic Investment Solutions Inc. IL bought a new position in Mastercard during the 1st quarter worth about $25,000. Barometer Capital Management Inc. purchased a new position in Mastercard during the 3rd quarter valued at about $36,000. Finally, Mascoma Wealth Management LLC bought a new stake in shares of Mastercard in the 3rd quarter valued at about $38,000. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. TD Cowen initiated coverage on Mastercard in a research report on Thursday, April 11th. They set a “buy” rating and a $545.00 target price on the stock. BMO Capital Markets raised their price objective on Mastercard from $480.00 to $490.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Evercore ISI boosted their target price on shares of Mastercard from $530.00 to $545.00 and gave the stock an “outperform” rating in a report on Tuesday, March 26th. Royal Bank of Canada raised their price target on shares of Mastercard from $432.00 to $499.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Finally, Mizuho reaffirmed a “buy” rating and issued a $480.00 price objective on shares of Mastercard in a research report on Wednesday, March 27th. Two equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $485.91.

Mastercard Stock Performance

NYSE:MA traded up $0.03 during mid-day trading on Wednesday, hitting $459.82. The company’s stock had a trading volume of 1,787,264 shares, compared to its average volume of 2,209,005. The business’s fifty day moving average is $471.86 and its two-hundred day moving average is $433.03. The stock has a market cap of $428.96 billion, a price-to-earnings ratio of 38.84, a PEG ratio of 1.74 and a beta of 1.08. The company has a debt-to-equity ratio of 2.06, a current ratio of 1.17 and a quick ratio of 1.17. Mastercard Incorporated has a 1 year low of $357.85 and a 1 year high of $490.00.

Mastercard (NYSE:MA) last issued its quarterly earnings data on Wednesday, January 31st. The credit services provider reported $3.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.08 by $0.10. The business had revenue of $6.55 billion during the quarter, compared to analysts’ expectations of $6.46 billion. Mastercard had a return on equity of 191.22% and a net margin of 44.60%. During the same quarter in the previous year, the firm posted $2.65 EPS. Analysts anticipate that Mastercard Incorporated will post 14.36 EPS for the current fiscal year.

Mastercard Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Tuesday, April 9th will be issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend is Monday, April 8th. Mastercard’s dividend payout ratio (DPR) is 22.32%.

Insider Activity at Mastercard

In other Mastercard news, major shareholder Foundation Mastercard sold 200 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $487.25, for a total value of $97,450.00. Following the completion of the transaction, the insider now owns 97,543,308 shares in the company, valued at $47,527,976,823. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, major shareholder Foundation Mastercard sold 200 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $487.25, for a total value of $97,450.00. Following the completion of the sale, the insider now directly owns 97,543,308 shares in the company, valued at $47,527,976,823. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ajay Bhalla sold 4,000 shares of the stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $435.00, for a total value of $1,740,000.00. Following the transaction, the insider now owns 6,235 shares in the company, valued at approximately $2,712,225. The disclosure for this sale can be found here. Insiders sold a total of 41,728 shares of company stock worth $19,479,753 in the last three months. Company insiders own 0.13% 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.