Lake Street Private Wealth LLC Sells 10,030 Shares of Mastercard Incorporated (NYSE:MA)

Lake Street Private Wealth LLC reduced its stake in shares of Mastercard Incorporated (NYSE:MA - Free Report) by 81.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,330 shares of the credit services provider's stock after selling 10,030 shares during the quarter. Lake Street Private Wealth LLC's holdings in Mastercard were worth $1,151,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. McLean Asset Management Corp lifted its stake in shares of Mastercard by 1.3% in the third quarter. McLean Asset Management Corp now owns 1,677 shares of the credit services provider's stock worth $834,000 after acquiring an additional 21 shares during the period. Quilter Plc raised its holdings in Mastercard by 2.8% during the 2nd 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. Cornerstone Wealth Management LLC raised its holdings in Mastercard by 0.5% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 4,351 shares of the credit services provider's stock worth $2,148,000 after purchasing an additional 22 shares during the last quarter. Atticus Wealth Management LLC boosted its stake 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 valued at $835,000 after purchasing an additional 23 shares during the last quarter. Finally, Strategic Advisors LLC boosted its stake in shares of Mastercard by 0.3% in the 1st quarter. Strategic Advisors LLC now owns 6,881 shares of the credit services provider's stock valued at $3,314,000 after purchasing an additional 23 shares during the last quarter. 97.28% of the stock is owned by institutional investors.

Mastercard Stock Performance

NYSE:MA traded up $0.71 on Wednesday, reaching $513.73. 1,734,597 shares of the company's stock were exchanged, compared to its average volume of 2,435,593. The firm has a market cap of $477.57 billion, a price-to-earnings ratio of 40.84, a P/E/G ratio of 2.22 and a beta of 1.10. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.14 and a quick ratio of 1.14. The stock has a fifty day simple moving average of $490.23 and a 200-day simple moving average of $464.93. Mastercard Incorporated has a 52 week low of $359.77 and a 52 week high of $518.82.

Mastercard (NYSE:MA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The credit services provider reported $3.59 EPS for the quarter, topping analysts' consensus estimates of $3.51 by $0.08. The firm had revenue of $6.96 billion during the quarter, compared to analyst estimates of $6.85 billion. Mastercard had a return on equity of 179.78% and a net margin of 46.45%. As a group, sell-side analysts predict that Mastercard Incorporated will post 14.3 earnings per share for the current year.

Mastercard Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Wednesday, October 9th will be given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 0.51%. The ex-dividend date is Wednesday, October 9th. Mastercard's payout ratio is 20.99%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Bank of America upped their target price on Mastercard from $480.00 to $509.00 and gave the company a "neutral" rating in a research report on Tuesday, September 17th. William Blair raised shares of Mastercard to a "strong-buy" rating in a research report on Wednesday, July 31st. BNP Paribas lowered shares of Mastercard from an "outperform" rating to a "neutral" rating and set a $470.00 price objective for the company. in a research note on Tuesday, September 3rd. Piper Sandler increased their target price on shares of Mastercard from $531.00 to $536.00 and gave the stock an "overweight" rating in a research note on Friday, August 2nd. Finally, Susquehanna lifted their price target on shares of Mastercard from $535.00 to $540.00 and gave the company a "positive" rating in a research note on Thursday, August 1st. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $525.68.

Insiders Place Their Bets

In related news, CFO J. Mehra Sachin sold 13,439 shares of the firm's stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $455.00, for a total value of $6,114,745.00. Following the sale, the chief financial officer now directly owns 27,304 shares of the company's stock, valued at $12,423,320. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Mastercard news, CFO J. Mehra Sachin sold 13,439 shares of the firm's stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $455.00, for a total transaction of $6,114,745.00. Following the sale, the chief financial officer now owns 27,304 shares in the company, valued at $12,423,320. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Foundation Mastercard sold 109,000 shares of the company's stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $467.45, for a total value of $50,952,050.00. Following the completion of the transaction, the insider now owns 91,924,308 shares of the company's stock, valued at $42,970,017,774.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 340,809 shares of company stock worth $159,610,703 in the last ninety days. 0.10% of the stock is currently owned by insiders.

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.