Concord Asset Management LLC VA Buys 815 Shares of Mastercard Incorporated $MA

Concord Asset Management LLC VA increased its stake in shares of Mastercard Incorporated (NYSE:MA) by 16.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,769 shares of the credit services provider’s stock after acquiring an additional 815 shares during the quarter. Concord Asset Management LLC VA’s holdings in Mastercard were worth $3,242,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. boosted its stake 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 in the last quarter. Kingstone Capital Partners Texas LLC bought a new position in Mastercard during the second quarter worth $11,421,213,000. Price T Rowe Associates Inc. MD boosted its stake in 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 acquiring an additional 907,184 shares in the last quarter. Wellington Management Group LLP boosted its stake in 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 acquiring an additional 3,765,378 shares in the last quarter. Finally, Nuveen LLC bought a new position in Mastercard during the first quarter worth $4,238,764,000. 97.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Seaport Res Ptn raised shares of Mastercard from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 14th. Robert W. Baird raised their price objective on shares of Mastercard from $640.00 to $660.00 and gave the company an “outperform” rating in a research note on Monday, October 6th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Mastercard in a research note on Friday, August 1st. Truist Financial dropped their price objective on shares of Mastercard from $640.00 to $612.00 and set a “buy” rating on the stock in a research note on Thursday, July 17th. Finally, TD Cowen reaffirmed a “buy” rating and issued a $645.00 price objective on shares of Mastercard in a research note on Monday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $634.04.

Mastercard Stock Performance

NYSE MA opened at $556.80 on Monday. Mastercard Incorporated has a 52-week low of $465.59 and a 52-week high of $601.77. The company has a 50-day simple moving average of $581.01 and a 200 day simple moving average of $562.90. 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 company has a market capitalization of $503.35 billion, a PE ratio of 37.55, a price-to-earnings-growth ratio of 2.28 and a beta of 0.97.

Mastercard (NYSE:MA) last posted its quarterly earnings data on Thursday, July 31st. The credit services provider reported $4.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 last year, the company posted $3.50 earnings per share. The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. On average, research analysts predict that Mastercard Incorporated will post 15.91 EPS for the current 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 paid a $0.76 dividend. The ex-dividend date 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 presently 20.50%.

Insider Activity at Mastercard

In other news, CFO J. Mehra Sachin sold 17,816 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer directly owned 31,234 shares in the company, valued at approximately $18,330,922.26. This trade represents a 36.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.09% of the company’s stock.

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.