Mastercard Incorporated $MA Position Cut by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC trimmed its stake in Mastercard Incorporated (NYSE:MA) by 1.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 5,842 shares of the credit services provider’s stock after selling 65 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Mastercard were worth $3,283,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. ORG Partners LLC raised its stake in shares of Mastercard by 73.2% during the second quarter. ORG Partners LLC now owns 698 shares of the credit services provider’s stock valued at $394,000 after purchasing an additional 295 shares in the last quarter. Ethos Financial Group LLC raised its stake in shares of Mastercard by 19.5% during the first quarter. Ethos Financial Group LLC now owns 3,174 shares of the credit services provider’s stock valued at $1,683,000 after purchasing an additional 518 shares in the last quarter. Wheelhouse Advisory Group LLC raised its stake in shares of Mastercard by 4.4% during the second quarter. Wheelhouse Advisory Group LLC now owns 1,336 shares of the credit services provider’s stock valued at $751,000 after purchasing an additional 56 shares in the last quarter. Canandaigua National Trust Co of Florida raised its stake in shares of Mastercard by 36.4% during the first quarter. Canandaigua National Trust Co of Florida now owns 693 shares of the credit services provider’s stock valued at $380,000 after purchasing an additional 185 shares in the last quarter. Finally, SeaBridge Investment Advisors LLC raised its stake in shares of Mastercard by 4.3% during the second quarter. SeaBridge Investment Advisors LLC now owns 6,463 shares of the credit services provider’s stock valued at $3,632,000 after purchasing an additional 264 shares in the last quarter. 97.28% of the stock is currently owned by institutional investors.

Mastercard Price Performance

MA stock opened at $558.89 on Tuesday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 2.41. Mastercard Incorporated has a one year low of $465.59 and a one year high of $601.77. The firm has a market capitalization of $505.24 billion, a PE ratio of 37.69, a P/E/G ratio of 2.28 and a beta of 0.97. The firm has a 50-day moving average of $580.79 and a two-hundred day moving average of $563.03.

Mastercard (NYSE:MA) last posted its quarterly earnings data on Thursday, July 31st. The credit services provider reported $4.15 EPS for the quarter, beating 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 company had revenue of $8.13 billion during the quarter, compared to analyst estimates of $7.95 billion. During the same period in the prior year, the firm earned $3.50 earnings per share. The business’s quarterly revenue was up 16.8% on a year-over-year basis. On average, analysts forecast that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Thursday, October 9th will be paid a dividend of $0.76 per share. The ex-dividend date of this dividend is Thursday, October 9th. This represents a $3.04 dividend on an annualized basis and a yield of 0.5%. Mastercard’s dividend payout ratio is currently 20.50%.

Insider Buying and Selling

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 shares were sold at an average price of $591.00, for a total transaction of $10,202,433.00. Following the completion of the sale, the chief financial officer directly owned 31,234 shares of the company’s stock, valued at approximately $18,459,294. This represents a 35.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MA. 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 price objective on the stock. Wall Street Zen cut shares of Mastercard from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Truist Financial dropped their price target on shares of Mastercard from $640.00 to $612.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of Mastercard in a research report on Wednesday, October 8th. Finally, KeyCorp boosted 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 analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Mastercard presently has a consensus rating of “Buy” and an average target price of $634.04.

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.