Kirtland Hills Capital Management LLC acquired a new stake in shares of Mastercard Incorporated (NYSE:MA – Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 10,078 shares of the credit services provider’s stock, valued at approximately $5,176,000. Mastercard comprises 1.5% of Kirtland Hills Capital Management LLC’s investment portfolio, making the stock its 16th largest holding.
A number of other institutional investors have also recently made changes to their positions in MA. Border to Coast Pensions Partnership Ltd raised its position in shares of Mastercard by 7.3% in the 1st quarter. Border to Coast Pensions Partnership Ltd now owns 139,844 shares of the credit services provider’s stock valued at $70,089,000 after purchasing an additional 9,504 shares during the last quarter. Canada Post Corp Registered Pension Plan grew its position in Mastercard by 6.1% during the 4th quarter. Canada Post Corp Registered Pension Plan now owns 65,414 shares of the credit services provider’s stock worth $37,344,000 after purchasing an additional 3,768 shares during the last quarter. Marble Wealth LLC purchased a new stake in Mastercard during the 4th quarter worth approximately $1,328,000. Charles Lim Capital Ltd acquired a new position in Mastercard during the 4th quarter valued at approximately $15,699,000. Finally, Gamco Investors INC. ET AL increased its stake in Mastercard by 5.4% during the 1st quarter. Gamco Investors INC. ET AL now owns 28,205 shares of the credit services provider’s stock valued at $14,093,000 after purchasing an additional 1,434 shares in the last quarter. Institutional investors and hedge funds own 97.28% of the company’s stock.
Insider Buying and Selling
In other news, insider Sandra A. Arkell sold 200 shares of Mastercard stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $540.00, for a total transaction of $108,000.00. Following the completion of the transaction, the insider directly owned 3,322 shares of the company’s stock, valued at $1,793,880. The trade was a 5.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Miebach sold 16,628 shares of Mastercard stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $567.68, for a total transaction of $9,439,383.04. Following the transaction, the chief executive officer directly owned 115,921 shares of the company’s stock, valued at approximately $65,806,033.28. This trade represents a 12.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 71,357 shares of company stock valued at $40,637,262 in the last three months. 0.09% of the stock is currently owned by company insiders.
Mastercard Stock Performance
Mastercard (NYSE:MA – Get Free Report) last issued its earnings results on Thursday, July 30th. The credit services provider reported $5.04 EPS for the quarter, topping analysts’ consensus estimates of $4.77 by $0.27. The firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.08 billion. Mastercard had a return on equity of 239.99% and a net margin of 46.34%.The company’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.15 earnings per share. On average, equities analysts forecast that Mastercard Incorporated will post 19.86 earnings per share for the current year.
Mastercard Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Thursday, July 9th were issued a $0.87 dividend. The ex-dividend date of this dividend was Thursday, July 9th. This represents a $3.48 dividend on an annualized basis and a yield of 0.6%. Mastercard’s payout ratio is presently 19.14%.
Analyst Ratings Changes
MA has been the subject of several research reports. Keefe, Bruyette & Woods lifted their price objective on shares of Mastercard from $665.00 to $685.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Truist Financial raised their target price on Mastercard from $554.00 to $633.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Morgan Stanley lifted their price target on Mastercard from $679.00 to $681.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Royal Bank Of Canada boosted their price target on Mastercard from $629.00 to $642.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Finally, Barclays increased their price objective on Mastercard from $640.00 to $660.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Five research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $664.71.
Check Out Our Latest Stock Report on MA
Mastercard Profile
Mastercard Incorporated is a global payments technology company that operates a network connecting consumers, financial institutions, merchants, governments and businesses in more than 200 countries and territories. The company facilitates electronic payments and transaction processing for credit, debit and prepaid card products carrying the Mastercard brand, while also providing a range of payment-related services to issuers, acquirers and merchants. Its technology and network enable authorization, clearing and settlement of payments and support a broad set of use cases including point-of-sale, e-commerce and mobile payments.
Beyond core transaction processing, Mastercard offers a suite of value-added services such as fraud and risk management, identity and authentication tools, tokenization and digital wallet support, cross-border and commercial payment solutions, and data analytics and consulting services for merchants and financial partners.
Further Reading
- Five stocks we like better than Mastercard
- Pathward’s Credit Scare Tests Its Comeback Story
- Wiring the AI Boom: Rumble’s $13.7B Pivot
- StoneX: Too Far Too Fast?
- DICK’s Sporting Goods Faces Pain Now for a Bigger Prize
Want to see what other hedge funds are holding MA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mastercard Incorporated (NYSE:MA – Free Report).
Receive News & Ratings for Mastercard Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mastercard and related companies with MarketBeat.com's FREE daily email newsletter.
