Icon Wealth Advisors LLC Has $6.34 Million Stake in Mastercard Incorporated (NYSE:MA)

Icon Wealth Advisors LLC decreased its position in Mastercard Incorporated (NYSE:MA) by 2.2% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 12,837 shares of the credit services provider’s stock after selling 295 shares during the period. Icon Wealth Advisors LLC’s holdings in Mastercard were worth $6,339,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

MA has been the topic of a number of recent research reports. BNP Paribas downgraded shares of Mastercard from an “outperform” rating to a “neutral” rating and set a $470.00 price target on the stock. in a report on Tuesday, September 3rd. Morgan Stanley upped their price target on shares of Mastercard from $544.00 to $564.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Compass Point began coverage on Mastercard in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $525.00 price objective on the stock. Citigroup increased their target price on Mastercard from $566.00 to $572.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, UBS Group raised their price target on shares of Mastercard from $590.00 to $610.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Four analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $549.16.

Insider Activity at Mastercard

In related news, CMO Venkata R. Madabhushi sold 4,685 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $489.86, for a total transaction of $2,294,994.10. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.10% of the company’s stock.

Mastercard Stock Performance

MA stock opened at $532.38 on Friday. Mastercard Incorporated has a twelve month low of $404.32 and a twelve month high of $534.03. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 2.36. The company has a market cap of $488.63 billion, a P/E ratio of 40.27, a price-to-earnings-growth ratio of 2.37 and a beta of 1.10. The business’s fifty day moving average is $509.57 and its 200-day moving average is $475.63.

Mastercard (NYSE:MA) last released its earnings results on Thursday, October 31st. The credit services provider reported $3.89 earnings per share for the quarter, beating the consensus estimate of $3.73 by $0.16. Mastercard had a return on equity of 178.27% and a net margin of 45.26%. The firm had revenue of $7.37 billion for the quarter, compared to analyst estimates of $7.27 billion. During the same quarter in the prior year, the firm posted $3.39 earnings per share. The company’s quarterly revenue was up 12.8% on a year-over-year basis. Equities research analysts forecast that Mastercard Incorporated will post 14.47 EPS for the current year.

Mastercard Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Wednesday, October 9th were paid a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 0.50%. The ex-dividend date was Wednesday, October 9th. Mastercard’s payout ratio is 19.97%.

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.