Summitry LLC Has $81.61 Million Stock Position in Mastercard Incorporated $MA

Summitry LLC grew its holdings in shares of Mastercard Incorporated (NYSE:MA) by 0.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 145,235 shares of the credit services provider’s stock after purchasing an additional 1,111 shares during the period. Mastercard makes up approximately 3.7% of Summitry LLC’s holdings, making the stock its 7th largest position. Summitry LLC’s holdings in Mastercard were worth $81,613,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Mastercard by 0.5% in 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 last quarter. Kingstone Capital Partners Texas LLC bought a new position in Mastercard in the 2nd quarter worth about $11,421,213,000. Price T Rowe Associates Inc. MD grew its position in Mastercard by 4.7% during the 1st 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 purchasing an additional 907,184 shares during the last quarter. Geode Capital Management LLC grew its position in Mastercard by 2.8% during the 2nd quarter. Geode Capital Management LLC now owns 19,760,552 shares of the credit services provider’s stock valued at $11,062,509,000 after purchasing an additional 542,841 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in 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 worth $7,413,936,000 after buying an additional 3,765,378 shares during the last quarter. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Mastercard Trading Down 1.8%

Mastercard stock opened at $545.31 on Friday. The business has a 50-day simple moving average of $568.49 and a two-hundred day simple moving average of $569.93. Mastercard Incorporated has a 52-week low of $465.59 and a 52-week high of $601.77. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 2.41. The company has a market cap of $489.68 billion, a P/E ratio of 36.77, a P/E/G ratio of 2.27 and a beta of 0.92.

Mastercard (NYSE:MA) last posted its quarterly earnings data 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 net margin of 44.93% and a return on equity of 200.01%. The company had revenue of $8.60 billion for the quarter, compared to the consensus estimate of $8.53 billion. During the same quarter last year, the firm posted $3.89 earnings per share. The firm’s revenue was up 16.7% compared to the same quarter last year. Analysts predict that Mastercard Incorporated will post 15.91 EPS for the current year.

Mastercard Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Thursday, October 9th were given a dividend of $0.76 per share. The ex-dividend date of this dividend was Thursday, October 9th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.6%. Mastercard’s payout ratio is presently 19.44%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on MA shares. Robert W. Baird raised their price target on shares of Mastercard from $640.00 to $660.00 and gave the company an “outperform” rating in a research report on Monday, October 6th. Royal Bank Of Canada increased their target price on Mastercard from $645.00 to $654.00 and gave the company a “buy” rating in a research note on Friday, October 31st. UBS Group lifted their target price on Mastercard from $690.00 to $700.00 and gave the stock a “buy” rating in a report on Friday, October 31st. KeyCorp reaffirmed an “overweight” rating and set a $665.00 price target on shares of Mastercard in a report on Wednesday, October 22nd. Finally, Citigroup raised Mastercard to a “strong-buy” rating in a research report on Thursday, October 23rd. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Mastercard currently has a consensus rating of “Buy” and an average price target of $652.50.

Insider Activity at Mastercard

In related news, CFO J. Mehra Sachin sold 17,263 shares of Mastercard stock in a transaction on 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 transaction, the chief financial officer directly owned 31,234 shares in the company, valued at approximately $18,459,294. The trade was a 35.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.09% of the stock is owned by company insiders.

About Mastercard

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.