Assetmark Inc. Raises Holdings in Mastercard Incorporated $MA

Assetmark Inc. grew its holdings in Mastercard Incorporated (NYSE:MA) by 21.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 203,623 shares of the credit services provider’s stock after buying an additional 35,294 shares during the quarter. Assetmark Inc.’s holdings in Mastercard were worth $114,424,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. LGT Financial Advisors LLC purchased a new stake in Mastercard in the 2nd quarter worth approximately $25,000. Family Legacy Financial Solutions LLC purchased a new stake in Mastercard in the 2nd quarter worth approximately $26,000. Flaharty Asset Management LLC purchased a new stake in Mastercard in the 1st quarter worth approximately $27,000. Keystone Global Partners LLC purchased a new stake in Mastercard in the 1st quarter worth approximately $31,000. Finally, IMG Wealth Management Inc. purchased a new stake in Mastercard in the 2nd quarter worth approximately $31,000. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on MA. Wells Fargo & Company upgraded Mastercard to a “strong-buy” rating in a report on Wednesday, October 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Mastercard in a report on Wednesday, October 8th. KeyCorp restated an “overweight” rating and issued a $665.00 target price on shares of Mastercard in a research note on Wednesday, October 22nd. The Goldman Sachs Group restated a “buy” rating on shares of Mastercard in a research note on Friday, August 1st. Finally, Truist Financial set a $638.00 target price on Mastercard in a research note on Friday, October 24th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Mastercard has a consensus rating of “Buy” and an average price target of $638.96.

Insider Activity at Mastercard

In other Mastercard news, CFO J. Mehra Sachin sold 17,263 shares of Mastercard stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $591.00, for a total value of $10,202,433.00. Following the completion of the sale, the chief financial officer owned 31,234 shares of the company’s stock, valued at approximately $18,459,294. This trade represents a 35.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.09% of the company’s stock.

Mastercard Stock Down 2.1%

MA stock opened at $553.89 on Thursday. Mastercard Incorporated has a twelve month low of $465.59 and a twelve month high of $601.77. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 2.41. The firm has a market cap of $500.72 billion, a PE ratio of 37.35, a price-to-earnings-growth ratio of 2.32 and a beta of 0.97. The business has a 50 day moving average of $578.08 and a 200 day moving average of $567.52.

Mastercard (NYSE:MA) last posted its 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. The business had revenue of $8.13 billion during the quarter, compared to analyst estimates of $7.95 billion. Mastercard had a return on equity of 200.01% and a net margin of 44.93%.The company’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter last year, the company earned $3.50 EPS. On average, research analysts forecast that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Mastercard Announces Dividend

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

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.