Mastercard Incorporated $MA Position Increased by Cerro Pacific Wealth Advisors LLC

Cerro Pacific Wealth Advisors LLC raised its holdings in shares of Mastercard Incorporated (NYSE:MA) by 14.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 1,308 shares of the credit services provider’s stock after purchasing an additional 164 shares during the quarter. Cerro Pacific Wealth Advisors LLC’s holdings in Mastercard were worth $735,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in MA. Kingstone Capital Partners Texas LLC bought a new stake in Mastercard during the second quarter worth approximately $11,421,213,000. Nuveen LLC bought a new stake in Mastercard during the first quarter worth approximately $4,238,764,000. Wellington Management Group LLP boosted its holdings in 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 buying an additional 3,765,378 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in 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 buying an additional 908,116 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in 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 buying an additional 907,184 shares in the last quarter. 97.28% of the stock is currently owned by institutional investors.

Insider Transactions at Mastercard

In other Mastercard news, CFO J. Mehra Sachin sold 17,263 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $591.00, for a total value of $10,202,433.00. Following the completion of the sale, the chief financial officer owned 31,234 shares in the company, valued at $18,459,294. This represents a 35.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is currently owned by insiders.

Mastercard Stock Down 1.4%

MA stock opened at $556.80 on Friday. Mastercard Incorporated has a 12-month low of $465.59 and a 12-month high of $601.77. 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 company has a market cap of $503.35 billion, a price-to-earnings ratio of 37.55, a PEG ratio of 2.28 and a beta of 0.97. The company has a 50 day moving average of $581.01 and a two-hundred day moving average of $562.86.

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

Mastercard Dividend Announcement

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

Analyst Upgrades and Downgrades

MA has been the subject of a number of research reports. Morgan Stanley raised their target price on shares of Mastercard from $639.00 to $661.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Wolfe Research set a $655.00 price objective on shares of Mastercard in a research note on Monday, June 23rd. Truist Financial decreased their price objective on shares of Mastercard from $640.00 to $612.00 and set a “buy” rating for the company in a research note on Thursday, July 17th. TD Cowen reaffirmed a “buy” rating and issued a $645.00 price objective on shares of Mastercard in a research note on Monday, August 11th. Finally, Robert W. Baird raised their price objective on shares of Mastercard from $640.00 to $660.00 and gave the stock an “outperform” rating in a research note on Monday, October 6th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Mastercard currently has an average rating of “Buy” and an average price target of $634.04.

Mastercard Company 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.