RNC Capital Management LLC Buys 28 Shares of Mastercard Incorporated $MA

RNC Capital Management LLC boosted its stake in Mastercard Incorporated (NYSE:MA) by 6.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 453 shares of the credit services provider’s stock after purchasing an additional 28 shares during the quarter. RNC Capital Management LLC’s holdings in Mastercard were worth $254,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Accredited Investors Inc. increased its holdings in shares of Mastercard by 2.6% in the first quarter. Accredited Investors Inc. now owns 718 shares of the credit services provider’s stock worth $394,000 after acquiring an additional 18 shares in the last quarter. Wealthstream Advisors Inc. increased its holdings in shares of Mastercard by 2.9% in the first quarter. Wealthstream Advisors Inc. now owns 632 shares of the credit services provider’s stock worth $347,000 after acquiring an additional 18 shares in the last quarter. Pinion Investment Advisors LLC increased its holdings in shares of Mastercard by 0.8% in the second quarter. Pinion Investment Advisors LLC now owns 2,272 shares of the credit services provider’s stock worth $1,276,000 after acquiring an additional 18 shares in the last quarter. KRS Capital Management LLC increased its holdings in shares of Mastercard by 0.6% in the second quarter. KRS Capital Management LLC now owns 2,848 shares of the credit services provider’s stock worth $1,601,000 after acquiring an additional 18 shares in the last quarter. Finally, Nvest Financial LLC increased its holdings in shares of Mastercard by 1.2% in the second quarter. Nvest Financial LLC now owns 1,505 shares of the credit services provider’s stock worth $846,000 after acquiring an additional 18 shares in the last quarter. 97.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO J. Mehra Sachin sold 17,816 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was 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 of the company’s stock, valued at approximately $18,330,922.26. This represents a 36.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.09% of the company’s stock.

Mastercard Stock Performance

Shares of NYSE MA opened at $573.59 on Friday. The stock has a 50 day moving average price of $579.67 and a 200 day moving average price of $564.74. Mastercard Incorporated has a 52 week low of $465.59 and a 52 week high of $601.77. 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 stock has a market capitalization of $518.53 billion, a PE ratio of 38.68, a price-to-earnings-growth ratio of 2.34 and a beta of 0.97.

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

Mastercard Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Royal Bank Of Canada increased their price target on Mastercard from $650.00 to $656.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. Wall Street Zen upgraded Mastercard from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. KeyCorp reaffirmed an “overweight” rating and set a $665.00 price objective on shares of Mastercard in a research report on Wednesday. Deutsche Bank Aktiengesellschaft began coverage on Mastercard in a research report on Thursday, July 17th. They set a “buy” rating and a $650.00 price objective for the company. Finally, Seaport Res Ptn raised Mastercard from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 14th. Five research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $638.00.

Mastercard 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.