DoubleLine ETF Adviser LP Takes $3.92 Million Position in Mastercard Incorporated (NYSE:MA)

DoubleLine ETF Adviser LP bought a new stake in Mastercard Incorporated (NYSE:MA) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 10,791 shares of the credit services provider’s stock, valued at approximately $3,922,000. Mastercard comprises about 1.7% of DoubleLine ETF Adviser LP’s investment portfolio, making the stock its 12th biggest position.

Other hedge funds also recently modified their holdings of the company. Bornite Capital Management LP acquired a new stake in shares of Mastercard in the 1st quarter valued at approximately $21,442,000. United Bank raised its holdings in Mastercard by 34.5% during the 1st quarter. United Bank now owns 6,007 shares of the credit services provider’s stock worth $2,147,000 after buying an additional 1,541 shares during the period. Mackenzie Financial Corp raised its holdings in Mastercard by 30.1% during the 1st quarter. Mackenzie Financial Corp now owns 272,358 shares of the credit services provider’s stock worth $97,335,000 after buying an additional 63,040 shares during the period. First Western Trust Bank acquired a new stake in Mastercard during the 1st quarter worth approximately $1,168,000. Finally, Bridgewater Associates LP acquired a new stake in Mastercard during the 1st quarter worth approximately $12,926,000. Institutional investors own 74.94% of the company’s stock.

Mastercard Stock Performance

Shares of MA traded up $1.27 during midday trading on Monday, reaching $416.11. 749,434 shares of the stock were exchanged, compared to its average volume of 2,673,891. Mastercard Incorporated has a twelve month low of $276.87 and a twelve month high of $417.78. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.57. The company has a market cap of $392.06 billion, a P/E ratio of 39.01, a PEG ratio of 1.86 and a beta of 1.10. The stock’s 50 day simple moving average is $399.72 and its 200 day simple moving average is $379.83.

Mastercard (NYSE:MA) last posted its quarterly earnings results on Thursday, July 27th. The credit services provider reported $2.89 EPS for the quarter, beating analysts’ consensus estimates of $2.84 by $0.05. The business had revenue of $6.30 billion during the quarter, compared to the consensus estimate of $6.18 billion. Mastercard had a return on equity of 178.10% and a net margin of 43.37%. Mastercard’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.56 earnings per share. On average, sell-side analysts expect that Mastercard Incorporated will post 12.13 earnings per share for the current year.

Mastercard Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 9th. Stockholders of record on Friday, July 7th were issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Thursday, July 6th. Mastercard’s dividend payout ratio (DPR) is currently 21.37%.

Insider Transactions at Mastercard

In related news, insider Raj Seshadri sold 5,164 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $373.24, for a total value of $1,927,411.36. Following the sale, the insider now directly owns 11,164 shares in the company, valued at $4,166,851.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Raj Seshadri sold 5,164 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $373.24, for a total value of $1,927,411.36. Following the sale, the insider now directly owns 11,164 shares in the company, valued at $4,166,851.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Hai Ling sold 3,324 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $415.00, for a total value of $1,379,460.00. Following the transaction, the insider now directly owns 17,577 shares in the company, valued at $7,294,455. The disclosure for this sale can be found here. Over the last three months, insiders have sold 412,431 shares of company stock worth $163,412,654. Insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. BMO Capital Markets raised their target price on shares of Mastercard from $463.00 to $488.00 and gave the stock an “outperform” rating in a report on Friday, July 28th. JPMorgan Chase & Co. lifted their price objective on shares of Mastercard from $442.00 to $510.00 and gave the company an “overweight” rating in a report on Tuesday, August 22nd. Morgan Stanley lifted their price objective on shares of Mastercard from $440.00 to $443.00 in a report on Friday, July 28th. Robert W. Baird lifted their price objective on shares of Mastercard from $435.00 to $450.00 in a report on Friday, July 28th. Finally, Credit Suisse Group lifted their price objective on shares of Mastercard from $400.00 to $430.00 and gave the company an “outperform” rating in a report on Friday, July 28th. One analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $440.96.

About Mastercard

Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers other payment-related products and services.