Kirtland Hills Capital Management LLC Purchases New Position in Mastercard Incorporated $MA

Kirtland Hills Capital Management LLC purchased a new position in Mastercard Incorporated (NYSE:MA) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 10,078 shares of the credit services provider’s stock, valued at approximately $5,176,000. Mastercard accounts for about 1.5% of Kirtland Hills Capital Management LLC’s investment portfolio, making the stock its 16th biggest holding.

A number of other hedge funds also recently bought and sold shares of the business. Border to Coast Pensions Partnership Ltd raised its position in Mastercard by 7.3% during the first quarter. Border to Coast Pensions Partnership Ltd now owns 139,844 shares of the credit services provider’s stock worth $70,089,000 after acquiring an additional 9,504 shares during the period. Canada Post Corp Registered Pension Plan increased its stake in shares of Mastercard by 6.1% during the fourth quarter. Canada Post Corp Registered Pension Plan now owns 65,414 shares of the credit services provider’s stock worth $37,344,000 after purchasing an additional 3,768 shares in the last quarter. Marble Wealth LLC acquired a new position in shares of Mastercard during the 4th quarter worth about $1,328,000. Charles Lim Capital Ltd acquired a new position in shares of Mastercard during the 4th quarter worth about $15,699,000. Finally, Gamco Investors INC. ET AL raised its position in shares of Mastercard by 5.4% during the 1st quarter. Gamco Investors INC. ET AL now owns 28,205 shares of the credit services provider’s stock worth $14,093,000 after purchasing an additional 1,434 shares during the last quarter. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Mastercard Stock Performance

MA opened at $598.69 on Wednesday. The firm has a market capitalization of $524.46 billion, a PE ratio of 32.93, a PEG ratio of 1.80 and a beta of 0.72. Mastercard Incorporated has a twelve month low of $464.52 and a twelve month high of $601.62. The firm’s 50-day moving average price is $542.94 and its 200 day moving average price is $518.46. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 3.96.

Mastercard (NYSE:MA) last announced its quarterly earnings data on Thursday, July 30th. The credit services provider reported $5.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.77 by $0.27. The company had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.08 billion. Mastercard had a net margin of 46.34% and a return on equity of 239.99%. Mastercard’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.15 EPS. As a group, sell-side analysts expect that Mastercard Incorporated will post 19.86 EPS for the current fiscal year.

Mastercard Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Thursday, July 9th were given a $0.87 dividend. The ex-dividend date was Thursday, July 9th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 0.6%. Mastercard’s dividend payout ratio is 19.14%.

Wall Street Analyst Weigh In

MA has been the topic of several research analyst reports. Cantor Fitzgerald lifted their price objective on Mastercard from $650.00 to $695.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Truist Financial increased their target price on Mastercard from $554.00 to $633.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. The Goldman Sachs Group restated a “buy” rating and issued a $701.00 target price on shares of Mastercard in a research report on Thursday, July 30th. Robert W. Baird lifted their price target on Mastercard from $660.00 to $680.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. Finally, Clear Str raised Mastercard to a “strong-buy” rating in a research note on Thursday, July 16th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Mastercard currently has a consensus rating of “Buy” and a consensus target price of $664.71.

Insiders Place Their Bets

In related news, CEO Michael Miebach sold 15,372 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $575.00, for a total value of $8,838,900.00. Following the completion of the sale, the chief executive officer owned 93,693 shares of the company’s stock, valued at approximately $53,873,475. This trade represents a 14.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Linda Pistecchia Kirkpatrick sold 4,280 shares of Mastercard stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $570.31, for a total value of $2,440,926.80. Following the transaction, the insider owned 31,179 shares in the company, valued at approximately $17,781,695.49. The trade was a 12.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 71,357 shares of company stock valued at $40,637,262. Insiders own 0.09% of the company’s stock.

Mastercard Profile

Mastercard Incorporated is a global payments technology company that operates a network connecting consumers, financial institutions, merchants, governments and businesses in more than 200 countries and territories. The company facilitates electronic payments and transaction processing for credit, debit and prepaid card products carrying the Mastercard brand, while also providing a range of payment-related services to issuers, acquirers and merchants. Its technology and network enable authorization, clearing and settlement of payments and support a broad set of use cases including point-of-sale, e-commerce and mobile payments.

Beyond core transaction processing, Mastercard offers a suite of value-added services such as fraud and risk management, identity and authentication tools, tokenization and digital wallet support, cross-border and commercial payment solutions, and data analytics and consulting services for merchants and financial partners.