Cardinal Point Capital Management ULC Makes New Investment in Mastercard Incorporated $MA

Cardinal Point Capital Management ULC acquired a new position in shares of Mastercard Incorporated (NYSE:MA) during the second quarter, HoldingsChannel reports. The institutional investor acquired 1,928 shares of the credit services provider’s stock, valued at approximately $1,084,000.

A number of other hedge funds have also modified their holdings of MA. Kingstone Capital Partners Texas LLC purchased a new position in shares of Mastercard during the second quarter worth approximately $11,421,213,000. Nuveen LLC purchased a new position in shares of Mastercard during the first quarter worth approximately $4,238,764,000. Wellington Management Group LLP grew its position in shares of Mastercard by 38.6% during the first quarter. Wellington Management Group LLP now owns 13,526,118 shares of the credit services provider’s stock worth $7,413,936,000 after acquiring an additional 3,765,378 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Mastercard by 3,493.6% during the second quarter. Assenagon Asset Management S.A. now owns 934,110 shares of the credit services provider’s stock worth $524,914,000 after acquiring an additional 908,116 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Mastercard by 4.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,096,979 shares of the credit services provider’s stock worth $11,015,557,000 after acquiring an additional 907,184 shares during the last quarter. 97.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MA. Truist Financial lowered their price objective on shares of Mastercard from $640.00 to $612.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. Wall Street Zen upgraded shares of Mastercard from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Robert W. Baird raised their target price on Mastercard from $640.00 to $660.00 and gave the company an “outperform” rating in a report on Monday, October 6th. Citigroup raised Mastercard to a “strong-buy” rating in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Mastercard in a research note on Thursday, July 17th. They set a “buy” rating and a $650.00 price target for the company. Five analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $638.00.

Insiders Place Their Bets

In related news, CFO J. Mehra Sachin sold 17,816 shares of the firm’s stock in a transaction dated 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 owned 31,234 shares of the company’s stock, valued at $18,330,922.26. This trade represents a 36.32% decrease in their ownership of the stock. 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.

Mastercard Stock Performance

Shares of MA opened at $573.59 on Friday. 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 $518.53 billion, a price-to-earnings ratio of 38.68, a PEG ratio of 2.34 and a beta of 0.97. Mastercard Incorporated has a 52-week low of $465.59 and a 52-week high of $601.77. The business’s 50 day moving average is $579.67 and its two-hundred day moving average is $564.74.

Mastercard (NYSE:MA) last issued its quarterly earnings data 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 firm had revenue of $8.13 billion during the quarter, compared to the consensus estimate of $7.95 billion. During the same period in the prior year, the business earned $3.50 EPS. The firm’s revenue was up 16.8% on a year-over-year basis. Analysts forecast that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Mastercard Dividend Announcement

The company also recently announced 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 dividend payout ratio (DPR) is currently 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.