Cardinal Point Capital Management ULC Invests $1.08 Million in Mastercard Incorporated $MA

Cardinal Point Capital Management ULC bought a new position in shares of Mastercard Incorporated (NYSE:MA) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,928 shares of the credit services provider’s stock, valued at approximately $1,084,000.

A number of other large investors have also modified their holdings of MA. LGT Financial Advisors LLC purchased a new stake in shares of Mastercard in the second quarter valued at about $25,000. Family Legacy Financial Solutions LLC purchased a new stake in shares of Mastercard in the second quarter valued at about $26,000. Flaharty Asset Management LLC purchased a new stake in shares of Mastercard in the first quarter valued at about $27,000. Keystone Global Partners LLC purchased a new stake in shares of Mastercard in the first quarter valued at about $31,000. Finally, IMG Wealth Management Inc. purchased a new stake in shares of Mastercard in the second quarter valued at about $31,000. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on MA shares. Wall Street Zen raised shares of Mastercard from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Citigroup raised shares of Mastercard to a “strong-buy” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft began coverage on shares of Mastercard in a research note on Thursday, July 17th. They set a “buy” rating and a $650.00 target price for the company. KeyCorp reaffirmed an “overweight” rating and set a $665.00 target price on shares of Mastercard in a research note on Wednesday. Finally, Morgan Stanley increased their target price on shares of Mastercard from $639.00 to $661.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $638.00.

Insiders Place Their Bets

In related news, CFO J. Mehra Sachin sold 17,263 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $591.00, for a total value of $10,202,433.00. Following the sale, the chief financial officer owned 31,234 shares of the company’s stock, valued at $18,459,294. This trade represents a 35.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is currently owned by company insiders.

Mastercard Stock Up 0.4%

Shares of MA opened at $573.59 on Friday. The stock has a market capitalization of $518.53 billion, a PE ratio of 38.68, a P/E/G ratio of 2.34 and a beta of 0.97. Mastercard Incorporated has a 1 year low of $465.59 and a 1 year high of $601.77. 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’s 50-day simple moving average is $579.67 and its 200-day simple moving average is $564.74.

Mastercard (NYSE:MA) last issued its earnings results on Thursday, July 31st. The credit services provider reported $4.15 earnings per share for the quarter, beating the consensus estimate of $4.05 by $0.10. The firm had revenue of $8.13 billion for the quarter, compared to analysts’ expectations of $7.95 billion. Mastercard had a net margin of 44.93% and a return on equity of 200.01%. The firm’s revenue was up 16.8% compared to the same quarter last year. During the same quarter last year, the company earned $3.50 earnings per share. Analysts forecast that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Thursday, October 9th will be issued a $0.76 dividend. The ex-dividend date of this dividend is Thursday, October 9th. This represents a $3.04 annualized dividend and a yield of 0.5%. Mastercard’s dividend payout ratio (DPR) is 20.50%.

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.