HBK Sorce Advisory LLC Grows Holdings in Mastercard Incorporated $MA

HBK Sorce Advisory LLC raised its position in Mastercard Incorporated (NYSE:MA) by 6.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,015 shares of the credit services provider’s stock after buying an additional 406 shares during the period. HBK Sorce Advisory LLC’s holdings in Mastercard were worth $3,942,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Mastercard by 0.5% during the first quarter. Vanguard Group Inc. now owns 77,544,675 shares of the credit services provider’s stock worth $42,503,787,000 after purchasing an additional 365,537 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Mastercard during the second quarter worth about $11,421,213,000. Price T Rowe Associates Inc. MD increased its stake in shares of 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 purchasing an additional 907,184 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of 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 purchasing an additional 3,765,378 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Mastercard during the first quarter worth about $4,238,764,000. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Mastercard Stock Performance

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

Mastercard (NYSE:MA) last posted its quarterly earnings results on Thursday, July 31st. The credit services provider reported $4.15 earnings per share for the quarter, topping analysts’ consensus estimates of $4.05 by $0.10. The firm had revenue of $8.13 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the business posted $3.50 earnings per share. As a group, sell-side analysts expect that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Mastercard Announces Dividend

The company also recently announced 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 is Thursday, October 9th. Mastercard’s payout ratio is presently 20.50%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on MA shares. Weiss Ratings reissued a “buy (b)” rating on shares of Mastercard in a research note on Wednesday, October 8th. Truist Financial set a $638.00 target price on shares of Mastercard in a research note on Friday, October 24th. KeyCorp reissued an “overweight” rating and set a $665.00 target price on shares of Mastercard in a research note on Wednesday, October 22nd. Citigroup raised shares of Mastercard to a “strong-buy” rating in a research note on Thursday, October 23rd. Finally, 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. Five analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Mastercard presently has an average rating of “Buy” and a consensus price target of $638.96.

Insiders Place Their Bets

In other Mastercard news, CFO J. Mehra Sachin sold 17,816 shares of the business’s stock in a transaction dated Tuesday, August 19th. The shares were 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.09% of the stock is owned by insiders.

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.