Pacific Point Advisors LLC Has $1.71 Million Position in Mastercard Incorporated $MA

Pacific Point Advisors LLC raised its position in Mastercard Incorporated (NYSE:MA) by 1.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,045 shares of the credit services provider’s stock after buying an additional 44 shares during the quarter. Mastercard accounts for 0.9% of Pacific Point Advisors LLC’s holdings, making the stock its 21st biggest holding. Pacific Point Advisors LLC’s holdings in Mastercard were worth $1,711,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in 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 acquiring an additional 365,537 shares during the period. Kingstone Capital Partners Texas LLC bought a new position in shares of Mastercard during the second quarter worth approximately $11,421,213,000. Price T Rowe Associates Inc. MD raised its position in shares of Mastercard by 4.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,096,979 shares of the credit services provider’s stock valued at $11,015,557,000 after buying an additional 907,184 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Mastercard by 38.6% in the first quarter. Wellington Management Group LLP now owns 13,526,118 shares of the credit services provider’s stock valued at $7,413,936,000 after buying an additional 3,765,378 shares during the period. Finally, Nuveen LLC acquired a new stake in Mastercard during the first quarter worth approximately $4,238,764,000. Institutional investors and hedge funds own 97.28% of the company’s stock.

Mastercard Trading Up 0.2%

MA opened at $569.29 on Wednesday. The company has a market cap of $514.64 billion, a P/E ratio of 38.39, a PEG ratio of 2.33 and a beta of 0.99. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 2.41. The company’s 50 day moving average is $579.48 and its 200-day moving average is $560.91. Mastercard Incorporated has a 1-year low of $465.59 and a 1-year high of $601.77.

Mastercard (NYSE:MA) last issued 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 net margin of 44.93% and a return on equity of 200.01%. The business had revenue of $8.13 billion during the quarter, compared to the consensus estimate of $7.95 billion. During the same quarter in the prior year, the firm earned $3.50 EPS. The firm’s revenue was up 16.8% compared to the same quarter last year. Equities research analysts predict that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Thursday, October 9th will be issued 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 dividend yield of 0.5%. Mastercard’s dividend payout ratio (DPR) is 20.50%.

Insiders Place Their Bets

In other Mastercard news, CFO J. Mehra Sachin sold 17,263 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $591.00, for a total value of $10,202,433.00. Following the completion of the transaction, the chief financial officer owned 31,234 shares of the company’s stock, valued at $18,459,294. This represents a 35.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Julius Genachowski sold 312 shares of Mastercard stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $570.67, for a total value of $178,049.04. Following the sale, the director directly owned 8,469 shares in the company, valued at $4,833,004.23. The trade was a 3.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,391 shares of company stock worth $20,836,514 in the last 90 days. 0.09% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MA. Truist Financial dropped their price objective on Mastercard from $640.00 to $612.00 and set a “buy” rating for the company in a report on Thursday, July 17th. Wolfe Research set a $655.00 price target on Mastercard in a research note on Monday, June 23rd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Mastercard in a research report on Thursday, July 17th. They set a “buy” rating and a $650.00 price objective for the company. Jefferies Financial Group restated a “buy” rating on shares of Mastercard in a research report on Friday, June 6th. Finally, KeyCorp increased their price target on shares of Mastercard from $635.00 to $660.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Mastercard has an average rating of “Buy” and an average target price of $630.89.

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.