Assetmark Inc. Grows Stake in Mastercard Incorporated $MA

Assetmark Inc. lifted its position in Mastercard Incorporated (NYSE:MA) by 21.0% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 203,623 shares of the credit services provider’s stock after purchasing an additional 35,294 shares during the period. Assetmark Inc.’s holdings in Mastercard were worth $114,424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Mastercard by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 77,544,675 shares of the credit services provider’s stock worth $42,503,787,000 after buying an additional 365,537 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in shares of Mastercard in the 2nd quarter worth $11,421,213,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Mastercard by 4.7% in the 1st 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 during the last quarter. Wellington Management Group LLP boosted its stake in shares of Mastercard by 38.6% in the 1st 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 during the last quarter. Finally, Nuveen LLC purchased a new position in Mastercard during the first quarter valued at $4,238,764,000. 97.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Mastercard

In other news, CFO J. Mehra Sachin sold 17,816 shares of the business’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $586.89, for a total value of $10,456,032.24. Following the transaction, the chief financial officer directly owned 31,234 shares in the company, valued at $18,330,922.26. The trade was a 36.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is owned by insiders.

Mastercard Price Performance

Shares of Mastercard stock opened at $553.89 on Thursday. The stock’s 50-day simple moving average is $578.08 and its 200-day simple moving average is $567.52. Mastercard Incorporated has a 52 week low of $465.59 and a 52 week high of $601.77. The company has a market capitalization of $500.72 billion, a price-to-earnings ratio of 37.35, a PEG ratio of 2.32 and a beta of 0.97. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 2.41.

Mastercard (NYSE:MA) last announced its quarterly earnings data 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 business had revenue of $8.13 billion for the quarter, compared to the consensus estimate of $7.95 billion. During the same period in the previous year, the business earned $3.50 earnings per share. The business’s revenue was up 16.8% on a year-over-year basis. As a group, analysts expect that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts recently weighed in on MA shares. Royal Bank Of Canada lifted their target price on Mastercard from $650.00 to $656.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Truist Financial set a $638.00 target price on Mastercard in a research report on Friday, October 24th. Citigroup upgraded Mastercard to a “strong-buy” rating in a research report on Thursday, October 23rd. Wall Street Zen upgraded Mastercard from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Mastercard in a research report on Wednesday, October 8th. Five equities 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 company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $638.96.

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.