Mastercard Incorporated $MA Position Trimmed by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC lessened its holdings in shares of Mastercard Incorporated (NYSE:MA) by 1.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,842 shares of the credit services provider’s stock after selling 65 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Mastercard were worth $3,283,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Family Legacy Financial Solutions LLC bought a new stake in shares of Mastercard in the 2nd quarter valued at approximately $26,000. Flaharty Asset Management LLC bought a new stake in shares of Mastercard in the 1st quarter valued at approximately $27,000. Keystone Global Partners LLC bought a new stake in shares of Mastercard in the 1st quarter valued at approximately $31,000. Hughes Financial Services LLC bought a new stake in shares of Mastercard in the 1st quarter valued at approximately $34,000. Finally, 1 North Wealth Services LLC bought a new stake in shares of Mastercard in the 1st quarter valued at approximately $44,000. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Insider Activity at Mastercard

In other news, CFO J. Mehra Sachin sold 17,816 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $586.89, for a total transaction of $10,456,032.24. Following the completion of the transaction, the chief financial officer directly owned 31,234 shares in the company, valued at $18,330,922.26. The trade was a 36.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Seaport Res Ptn raised Mastercard from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 14th. Wall Street Zen cut Mastercard from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. Truist Financial lowered their price target on Mastercard from $640.00 to $612.00 and set a “buy” rating for the company in a research note on Thursday, July 17th. Robert W. Baird boosted their target price on Mastercard from $640.00 to $660.00 and gave the stock an “outperform” rating in a report on Monday, October 6th. Finally, Wolfe Research set a $655.00 target price on Mastercard in a report on Monday, June 23rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $634.04.

Mastercard Stock Up 0.3%

MA opened at $558.89 on Tuesday. The business has a 50 day moving average price of $580.79 and a 200 day moving average price of $563.03. Mastercard Incorporated has a twelve month low of $465.59 and a twelve month high of $601.77. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a market cap of $505.24 billion, a P/E ratio of 37.69, a price-to-earnings-growth ratio of 2.28 and a beta of 0.97.

Mastercard (NYSE:MA) last issued its quarterly earnings results on Thursday, July 31st. The credit services provider reported $4.15 EPS for the quarter, topping analysts’ consensus estimates of $4.05 by $0.10. Mastercard had a return on equity of 200.01% and a net margin of 44.93%.The company had revenue of $8.13 billion during the quarter, compared to analyst estimates of $7.95 billion. During the same period in the previous year, the company earned $3.50 earnings per share. The company’s quarterly revenue was up 16.8% compared to the same quarter last year. Research analysts forecast that Mastercard Incorporated will post 15.91 EPS for the current year.

Mastercard Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Thursday, October 9th will be issued a dividend of $0.76 per share. The ex-dividend date is Thursday, October 9th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.5%. Mastercard’s payout ratio is 20.50%.

Mastercard 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.