King Luther Capital Management Corp raised its stake in shares of Mastercard Incorporated (NYSE:MA – Free Report) by 9.8% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 50,654 shares of the credit services provider’s stock after acquiring an additional 4,529 shares during the period. King Luther Capital Management Corp’s holdings in Mastercard were worth $19,922,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of MA. Aspire Private Capital LLC bought a new position in shares of Mastercard in the 1st quarter worth approximately $18,897,320,000. GeoWealth Management LLC bought a new position in shares of Mastercard in the 2nd quarter worth approximately $26,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Mastercard in the 1st quarter worth approximately $25,000. Graham Capital Wealth Management LLC bought a new position in shares of Mastercard in the 1st quarter worth approximately $268,923,000. Finally, Avion Wealth lifted its stake in shares of Mastercard by 75.8% in the 2nd quarter. Avion Wealth now owns 109 shares of the credit services provider’s stock worth $42,000 after purchasing an additional 47 shares during the period. Institutional investors own 74.94% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms have commented on MA. Truist Financial raised their target price on shares of Mastercard from $450.00 to $475.00 and gave the stock a “buy” rating in a research note on Monday, September 25th. Robert W. Baird raised their target price on shares of Mastercard from $435.00 to $450.00 in a research note on Friday, July 28th. Wells Fargo & Company raised their target price on shares of Mastercard from $425.00 to $440.00 and gave the stock an “overweight” rating in a research note on Friday, July 28th. HSBC started coverage on shares of Mastercard in a research note on Friday, October 13th. They set a “hold” rating and a $424.00 target price on the stock. Finally, BMO Capital Markets cut their price objective on shares of Mastercard from $488.00 to $472.00 and set an “outperform” rating for the company in a report on Friday, October 27th. Two equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $450.09.
Mastercard Trading Up 1.0 %
MA opened at $404.40 on Tuesday. Mastercard Incorporated has a one year low of $336.43 and a one year high of $418.60. The stock has a market cap of $379.24 billion, a price-to-earnings ratio of 35.23, a P/E/G ratio of 1.79 and a beta of 1.08. The stock’s 50 day moving average price is $394.96 and its 200-day moving average price is $391.86. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.17 and a current ratio of 1.17.
Mastercard (NYSE:MA – Get Free Report) last announced its quarterly earnings data on Thursday, October 26th. The credit services provider reported $3.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.21 by $0.18. Mastercard had a return on equity of 188.83% and a net margin of 44.85%. The company had revenue of $6.53 billion for the quarter, compared to analysts’ expectations of $6.53 billion. During the same quarter in the prior year, the firm earned $2.68 earnings per share. Mastercard’s revenue was up 13.5% compared to the same quarter last year. On average, equities analysts forecast that Mastercard Incorporated will post 12.16 EPS for the current year.
Mastercard Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Monday, October 9th were issued a dividend of $0.57 per share. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $2.28 dividend on an annualized basis and a yield of 0.56%. Mastercard’s dividend payout ratio is currently 19.86%.
Insiders Place Their Bets
In related news, Director Richard K. Davis bought 1,000 shares of the stock in a transaction on Thursday, November 9th. The stock was bought at an average price of $390.96 per share, for a total transaction of $390,960.00. Following the completion of the acquisition, the director now directly owns 9,743 shares in the company, valued at $3,809,123.28. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder Foundation Mastercard sold 125,816 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $377.45, for a total transaction of $47,489,249.20. Following the completion of the sale, the insider now owns 98,424,221 shares in the company, valued at approximately $37,150,222,216.45. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Richard K. Davis acquired 1,000 shares of the firm’s stock in a transaction dated Thursday, November 9th. The shares were acquired at an average price of $390.96 per share, with a total value of $390,960.00. Following the acquisition, the director now owns 9,743 shares in the company, valued at approximately $3,809,123.28. The disclosure for this purchase can be found here. Insiders sold a total of 533,424 shares of company stock worth $206,051,295 over the last 90 days. Company insiders own 0.13% of the company’s stock.
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.
- Five stocks we like better than Mastercard
- Insider Trading – What You Need to Know
- Safeguard your portfolio with these three bargain stocks
- Large Cap Stock Definition and How to Invest
- Membership clubs gain leverage for the consumer rebound
- Earnings Per Share Calculator: How to Calculate EPS
- Advanced Auto Parts may be worth more in pieces than the whole
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.