Mattern Capital Management LLC Has $5.20 Million Holdings in Mastercard Incorporated $MA

Mattern Capital Management LLC increased its stake in Mastercard Incorporated (NYSE:MA) by 22.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,259 shares of the credit services provider’s stock after purchasing an additional 1,716 shares during the period. Mattern Capital Management LLC’s holdings in Mastercard were worth $5,203,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. River Street Advisors LLC boosted its stake in Mastercard by 5.3% in the 2nd quarter. River Street Advisors LLC now owns 2,460 shares of the credit services provider’s stock worth $1,382,000 after purchasing an additional 124 shares during the period. Hilltop National Bank acquired a new position in Mastercard in the 2nd quarter worth $1,853,000. Matauro LLC acquired a new position in Mastercard in the 2nd quarter worth $606,000. Triad Wealth Partners LLC boosted its stake in Mastercard by 27.8% in the 2nd quarter. Triad Wealth Partners LLC now owns 2,262 shares of the credit services provider’s stock worth $1,271,000 after purchasing an additional 492 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Mastercard by 15.3% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 143,358 shares of the credit services provider’s stock worth $80,559,000 after buying an additional 19,070 shares in the last quarter. 97.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MA has been the topic of several analyst reports. Wall Street Zen cut shares of Mastercard from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. KeyCorp boosted their price target on shares of Mastercard from $635.00 to $660.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Royal Bank Of Canada boosted their price target on shares of Mastercard from $650.00 to $656.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. Morgan Stanley boosted their price target on shares of Mastercard from $639.00 to $661.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Finally, Truist Financial cut their price target 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. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $630.89.

Mastercard Stock Up 0.7%

Shares of MA stock opened at $577.76 on Friday. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.16 and a current ratio of 1.16. The firm’s 50-day moving average is $580.00 and its 200-day moving average is $561.32. The stock has a market cap of $522.30 billion, a price-to-earnings ratio of 38.96, a PEG ratio of 2.35 and a beta of 0.97. Mastercard Incorporated has a 52-week low of $465.59 and a 52-week high of $601.77.

Mastercard (NYSE:MA) last issued its earnings results on Thursday, July 31st. The credit services provider reported $4.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.05 by $0.10. The company had revenue of $8.13 billion for the quarter, compared to analysts’ expectations of $7.95 billion. Mastercard had a net margin of 44.93% and a return on equity of 200.01%. Mastercard’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.50 EPS. Sell-side analysts predict that Mastercard Incorporated will post 15.91 EPS for the current year.

Mastercard Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Thursday, October 9th will be issued a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, October 9th. Mastercard’s dividend payout ratio is currently 20.50%.

Insider Activity

In other Mastercard news, Director Julius Genachowski sold 312 shares of the stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $570.67, for a total value of $178,049.04. Following the transaction, the director directly owned 8,469 shares of the company’s stock, valued at $4,833,004.23. This represents a 3.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO J. Mehra Sachin sold 17,816 shares of the stock in a transaction dated Tuesday, August 19th. The shares were 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 directly owned 31,234 shares in the company, valued at approximately $18,330,922.26. This represents a 36.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,391 shares of company stock worth $20,836,514. Insiders own 0.09% of the company’s stock.

About Mastercard

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.