Synovus Financial Corp Boosts Holdings in Mastercard Incorporated (NYSE:MA)

Synovus Financial Corp grew its holdings in Mastercard Incorporated (NYSE:MA - Free Report) by 13.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,645 shares of the credit services provider's stock after acquiring an additional 4,843 shares during the period. Synovus Financial Corp's holdings in Mastercard were worth $20,563,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of MA. Highline Wealth Partners LLC purchased a new position in shares of Mastercard in the 3rd quarter valued at about $25,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Mastercard during the 2nd quarter worth approximately $34,000. Fairway Wealth LLC acquired a new position in shares of Mastercard in the 2nd quarter valued at $35,000. First Personal Financial Services acquired a new stake in Mastercard during the 3rd quarter worth $39,000. Finally, Lowe Wealth Advisors LLC lifted its position in Mastercard by 74.0% in the third quarter. Lowe Wealth Advisors LLC now owns 87 shares of the credit services provider's stock valued at $43,000 after acquiring an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 97.28% of the company's stock.

Insider Transactions at Mastercard

In related news, CMO Venkata R. Madabhushi sold 4,685 shares of the company's stock in a transaction 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 sale, the chief marketing officer now directly owns 15,031 shares of the company's stock, valued at approximately $7,363,085.66. This represents a 23.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.10% of the company's stock.

Mastercard Trading Down 0.4 %

Shares of MA stock traded down $2.25 during mid-day trading on Friday, hitting $530.16. 971,570 shares of the company's stock were exchanged, compared to its average volume of 2,451,036. The stock has a market cap of $486.60 billion, a price-to-earnings ratio of 40.28, a PEG ratio of 2.38 and a beta of 1.10. The stock has a 50-day simple moving average of $516.61 and a two-hundred day simple moving average of $480.61. Mastercard Incorporated has a fifty-two week low of $411.60 and a fifty-two week high of $536.75. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 2.36.

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

Mastercard Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Keefe, Bruyette & Woods boosted their target price on Mastercard from $580.00 to $618.00 and gave the company an "outperform" rating in a report on Monday. Royal Bank of Canada reissued an "outperform" rating and issued a $572.00 price objective on shares of Mastercard in a report on Thursday, November 14th. Barclays lifted their target price on shares of Mastercard from $536.00 to $576.00 and gave the company an "overweight" rating in a report on Thursday, October 10th. KeyCorp increased their price target on shares of Mastercard from $515.00 to $580.00 and gave the stock an "overweight" rating in a research note on Friday, November 1st. Finally, Compass Point began coverage on shares of Mastercard in a research note on Wednesday, September 4th. They issued a "neutral" rating and a $525.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Mastercard currently has an average rating of "Moderate Buy" and a consensus price target of $559.28.

Mastercard Company 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.