Atlantic Union Bankshares Corp Raises Position in Mastercard Incorporated $MA

Atlantic Union Bankshares Corp grew its holdings in shares of Mastercard Incorporated (NYSE:MA) by 138.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 74,226 shares of the credit services provider’s stock after purchasing an additional 43,080 shares during the quarter. Mastercard makes up about 1.0% of Atlantic Union Bankshares Corp’s investment portfolio, making the stock its 20th biggest position. Atlantic Union Bankshares Corp’s holdings in Mastercard were worth $41,710,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Brighton Jones LLC boosted its holdings in Mastercard by 42.3% in the fourth quarter. Brighton Jones LLC now owns 6,824 shares of the credit services provider’s stock valued at $3,594,000 after acquiring an additional 2,028 shares during the last quarter. Trek Financial LLC boosted its holdings in Mastercard by 3.9% in the first quarter. Trek Financial LLC now owns 2,639 shares of the credit services provider’s stock valued at $1,447,000 after acquiring an additional 100 shares during the last quarter. Greenleaf Trust boosted its holdings in Mastercard by 2.6% in the first quarter. Greenleaf Trust now owns 28,812 shares of the credit services provider’s stock valued at $15,792,000 after acquiring an additional 739 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its holdings in Mastercard by 6.6% in the first quarter. Linden Thomas Advisory Services LLC now owns 12,017 shares of the credit services provider’s stock valued at $6,587,000 after acquiring an additional 745 shares during the last quarter. Finally, Financial Symmetry Inc boosted its holdings in Mastercard by 5.5% in the first quarter. Financial Symmetry Inc now owns 496 shares of the credit services provider’s stock valued at $272,000 after acquiring an additional 26 shares during the last quarter. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Insider Activity

In other news, CFO J. Mehra Sachin sold 17,263 shares of Mastercard stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $591.00, for a total transaction of $10,202,433.00. Following the sale, the chief financial officer directly owned 31,234 shares of the company’s stock, valued at approximately $18,459,294. The trade was a 35.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

MA has been the subject of a number of research reports. KeyCorp reaffirmed an “overweight” rating and set a $665.00 price target on shares of Mastercard in a research report on Wednesday, October 22nd. The Goldman Sachs Group reissued a “buy” rating and issued a $713.00 price objective on shares of Mastercard in a research report on Thursday, October 30th. Robert W. Baird raised their price objective on Mastercard from $640.00 to $660.00 and gave the company an “outperform” rating in a research report on Monday, October 6th. Seaport Res Ptn raised Mastercard from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 14th. Finally, Truist Financial cut their price objective on Mastercard from $638.00 to $630.00 and set a “buy” rating on the stock in a research report on Tuesday. Four analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $647.59.

Mastercard Stock Up 0.1%

Shares of NYSE MA opened at $553.55 on Thursday. Mastercard Incorporated has a 1 year low of $465.59 and a 1 year high of $601.77. The firm has a market cap of $500.42 billion, a price-to-earnings ratio of 37.33, a PEG ratio of 2.27 and a beta of 0.97. 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’s 50-day simple moving average is $573.88 and its 200-day simple moving average is $568.77.

Mastercard (NYSE:MA) last announced its earnings results on Thursday, October 30th. The credit services provider reported $4.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.31 by $0.07. Mastercard had a return on equity of 200.01% and a net margin of 44.93%.The business had revenue of $8.60 billion for the quarter, compared to analyst estimates of $8.53 billion. During the same period in the previous year, the company earned $3.89 earnings per share. The company’s revenue for the quarter was up 16.7% compared to the same quarter last year. As a group, equities analysts anticipate that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Thursday, October 9th will be given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Thursday, October 9th. Mastercard’s payout ratio is presently 19.44%.

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.