Great Lakes Advisors LLC purchased a new position in Mastercard Incorporated (NYSE:MA – Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,962 shares of the credit services provider’s stock, valued at approximately $2,035,000.
Several other institutional investors also recently bought and sold shares of MA. Riggs Asset Managment Co. Inc. grew its stake in Mastercard by 20.0% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 108 shares of the credit services provider’s stock valued at $61,000 after acquiring an additional 18 shares during the period. Castle Rock Wealth Management LLC raised its position in shares of Mastercard by 2.8% during the 4th quarter. Castle Rock Wealth Management LLC now owns 695 shares of the credit services provider’s stock worth $387,000 after purchasing an additional 19 shares during the last quarter. Athena Wealth Management LLC lifted its stake in Mastercard by 3.8% in the 2nd quarter. Athena Wealth Management LLC now owns 514 shares of the credit services provider’s stock valued at $264,000 after buying an additional 19 shares in the last quarter. Novem Group boosted its holdings in Mastercard by 0.4% in the 2nd quarter. Novem Group now owns 4,680 shares of the credit services provider’s stock worth $2,404,000 after buying an additional 19 shares during the last quarter. Finally, Vista Capital Partners Inc. increased its stake in Mastercard by 4.5% during the 2nd quarter. Vista Capital Partners Inc. now owns 444 shares of the credit services provider’s stock worth $228,000 after buying an additional 19 shares in the last quarter. 97.28% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts recently commented on the company. Robert W. Baird increased their price objective on Mastercard from $660.00 to $680.00 and gave the company an “outperform” rating in a research note on Tuesday, July 7th. KeyCorp upped their target price on shares of Mastercard from $670.00 to $680.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Keefe, Bruyette & Woods boosted their price target on shares of Mastercard from $665.00 to $685.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Loop Capital restated a “buy” rating and set a $631.00 target price on shares of Mastercard in a report on Wednesday, June 3rd. Finally, UBS Group upped their price target on Mastercard from $640.00 to $670.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Five investment 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 company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $664.71.
Insiders Place Their Bets
In other news, insider Linda Pistecchia Kirkpatrick sold 4,280 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $570.31, for a total value of $2,440,926.80. Following the transaction, the insider directly owned 31,179 shares in the company, valued at approximately $17,781,695.49. This represents a 12.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider J. Mehra Sachin sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $572.07, for a total value of $572,070.00. Following the completion of the sale, the insider directly owned 39,916 shares in the company, valued at approximately $22,834,746.12. The trade was a 2.44% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 71,357 shares of company stock worth $40,637,262. Insiders own 0.09% of the company’s stock.
Mastercard Stock Down 0.2%
MA stock opened at $598.69 on Wednesday. The firm has a market cap of $524.46 billion, a PE ratio of 32.93, a PEG ratio of 1.80 and a beta of 0.72. Mastercard Incorporated has a one year low of $464.52 and a one year high of $601.62. The company has a debt-to-equity ratio of 3.96, a quick ratio of 1.06 and a current ratio of 1.06. The firm’s 50 day moving average price is $542.94 and its 200-day moving average price is $518.46.
Mastercard (NYSE:MA – Get Free Report) last posted its earnings results on Thursday, July 30th. The credit services provider reported $5.04 EPS for the quarter, beating analysts’ consensus estimates of $4.77 by $0.27. Mastercard had a return on equity of 239.99% and a net margin of 46.34%.The company had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.08 billion. During the same quarter in the previous year, the business earned $4.15 earnings per share. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, equities research analysts anticipate that Mastercard Incorporated will post 19.86 EPS for the current year.
Mastercard Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Thursday, July 9th were paid a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, July 9th. Mastercard’s payout ratio is 19.14%.
About Mastercard
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.
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