Reliant Investment Management LLC Acquires 75 Shares of Mastercard Incorporated $MA

Reliant Investment Management LLC raised its position in Mastercard Incorporated (NYSE:MA) by 0.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 10,653 shares of the credit services provider’s stock after purchasing an additional 75 shares during the quarter. Mastercard accounts for 2.6% of Reliant Investment Management LLC’s investment portfolio, making the stock its 19th largest holding. Reliant Investment Management LLC’s holdings in Mastercard were worth $5,986,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MA. LGT Financial Advisors LLC acquired a new position in Mastercard in the second quarter valued at about $25,000. Family Legacy Financial Solutions LLC acquired a new position in Mastercard in the second quarter valued at approximately $26,000. Flaharty Asset Management LLC acquired a new position in Mastercard in the first quarter valued at approximately $27,000. Keystone Global Partners LLC acquired a new position in Mastercard in the first quarter valued at approximately $31,000. Finally, IMG Wealth Management Inc. acquired a new position in Mastercard in the second quarter valued at approximately $31,000. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Mastercard Stock Performance

Shares of MA opened at $570.57 on Thursday. The firm has a 50-day moving average of $579.88 and a 200-day moving average of $564.14. Mastercard Incorporated has a one year low of $465.59 and a one year high of $601.77. The company has a market cap of $515.80 billion, a PE ratio of 38.47, a price-to-earnings-growth ratio of 2.34 and a beta of 0.97. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.16 and a quick ratio of 1.16.

Mastercard (NYSE:MA) last announced its quarterly earnings data on Thursday, July 31st. The credit services provider reported $4.15 EPS for the quarter, beating analysts’ consensus estimates of $4.05 by $0.10. Mastercard had a net margin of 44.93% and a return on equity of 200.01%. The company had revenue of $8.13 billion during the quarter, compared to the consensus estimate of $7.95 billion. During the same quarter last year, the firm posted $3.50 EPS. The company’s quarterly revenue was up 16.8% on a year-over-year basis. As a group, equities analysts forecast that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Thursday, October 9th will be given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Thursday, October 9th. Mastercard’s dividend payout ratio (DPR) is 20.50%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Citigroup assumed coverage on shares of Mastercard in a research note on Wednesday. They issued a “buy” rating and a $735.00 target price for the company. KeyCorp reissued an “overweight” rating and set a $665.00 price objective on shares of Mastercard in a research report on Wednesday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Mastercard in a research report on Thursday, July 17th. They set a “buy” rating and a $650.00 price objective for the company. Morgan Stanley increased their price objective on shares of Mastercard from $639.00 to $661.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Finally, Truist Financial decreased their target price on shares of Mastercard from $640.00 to $612.00 and set a “buy” rating for the company in a research report on Thursday, July 17th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $638.00.

Insider Activity

In other news, CFO J. Mehra Sachin sold 17,263 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $591.00, for a total transaction of $10,202,433.00. Following the completion of the sale, the chief financial officer owned 31,234 shares in the company, valued at approximately $18,459,294. This trade represents a 35.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.09% of the company’s stock.

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.