Tuttle Capital Management LLC Grows Stock Holdings in Mastercard Incorporated $MA

Tuttle Capital Management LLC grew its holdings in shares of Mastercard Incorporated (NYSE:MA) by 14.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,170 shares of the credit services provider’s stock after purchasing an additional 150 shares during the quarter. Mastercard makes up about 2.7% of Tuttle Capital Management LLC’s investment portfolio, making the stock its 17th biggest position. Tuttle Capital Management LLC’s holdings in Mastercard were worth $657,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in MA. ORG Partners LLC grew its holdings in Mastercard by 73.2% in the 2nd quarter. ORG Partners LLC now owns 698 shares of the credit services provider’s stock valued at $394,000 after buying an additional 295 shares during the period. Ethos Financial Group LLC boosted its position in shares of Mastercard by 19.5% in the first quarter. Ethos Financial Group LLC now owns 3,174 shares of the credit services provider’s stock worth $1,683,000 after acquiring an additional 518 shares during the last quarter. Wheelhouse Advisory Group LLC grew its holdings in Mastercard by 4.4% in the second quarter. Wheelhouse Advisory Group LLC now owns 1,336 shares of the credit services provider’s stock valued at $751,000 after purchasing an additional 56 shares during the period. Canandaigua National Trust Co of Florida increased its position in Mastercard by 36.4% during the first quarter. Canandaigua National Trust Co of Florida now owns 693 shares of the credit services provider’s stock worth $380,000 after purchasing an additional 185 shares during the last quarter. Finally, SeaBridge Investment Advisors LLC raised its stake in Mastercard by 4.3% during the second quarter. SeaBridge Investment Advisors LLC now owns 6,463 shares of the credit services provider’s stock worth $3,632,000 after purchasing an additional 264 shares during the period. Institutional investors and hedge funds own 97.28% of the company’s stock.

Mastercard Stock Performance

Shares of NYSE:MA opened at $567.88 on Wednesday. The business’s 50-day simple moving average is $580.83 and its 200 day simple moving average is $563.06. The company has a market cap of $513.37 billion, a P/E ratio of 38.29, a PEG ratio of 2.29 and a beta of 0.97. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.16 and a current ratio of 1.16. Mastercard Incorporated has a one year low of $465.59 and a one year high of $601.77.

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

Mastercard Dividend Announcement

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

Insider Buying and Selling

In other Mastercard news, CFO J. Mehra Sachin sold 17,816 shares of the business’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $586.89, for a total value of $10,456,032.24. Following the transaction, the chief financial officer owned 31,234 shares in the company, valued at $18,330,922.26. The trade was a 36.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.09% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

MA has been the subject of several research reports. Wolfe Research set a $655.00 price objective on shares of Mastercard in a research note on Monday, June 23rd. Seaport Res Ptn raised Mastercard from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 14th. The Goldman Sachs Group restated a “buy” rating on shares of Mastercard in a research note on Friday, August 1st. Wells Fargo & Company lifted their price objective on Mastercard from $625.00 to $650.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Mastercard in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Mastercard has an average rating of “Buy” and a consensus price target of $634.04.

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.