1832 Asset Management L.P. Purchases 375,190 Shares of Mastercard Incorporated $MA

1832 Asset Management L.P. raised its position in shares of Mastercard Incorporated (NYSE:MA) by 79.6% in the first quarter, Holdings Channel reports. The firm owned 846,607 shares of the credit services provider’s stock after acquiring an additional 375,190 shares during the quarter. Mastercard accounts for 0.4% of 1832 Asset Management L.P.’s holdings, making the stock its 28th biggest holding. 1832 Asset Management L.P.’s holdings in Mastercard were worth $464,042,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Accredited Investors Inc. increased its holdings in shares of Mastercard by 2.6% during the first quarter. Accredited Investors Inc. now owns 718 shares of the credit services provider’s stock valued at $394,000 after acquiring an additional 18 shares in the last quarter. Wealthstream Advisors Inc. increased its holdings in shares of Mastercard by 2.9% during the first quarter. Wealthstream Advisors Inc. now owns 632 shares of the credit services provider’s stock valued at $347,000 after acquiring an additional 18 shares in the last quarter. Phillips Wealth Planners LLC increased its holdings in shares of Mastercard by 1.8% during the first quarter. Phillips Wealth Planners LLC now owns 1,055 shares of the credit services provider’s stock valued at $538,000 after acquiring an additional 19 shares in the last quarter. Alta Wealth Advisors LLC increased its holdings in shares of Mastercard by 3.6% during the first quarter. Alta Wealth Advisors LLC now owns 540 shares of the credit services provider’s stock valued at $296,000 after acquiring an additional 19 shares in the last quarter. Finally, May Hill Capital LLC increased its holdings in shares of Mastercard by 2.0% during the first quarter. May Hill Capital LLC now owns 986 shares of the credit services provider’s stock valued at $540,000 after acquiring an additional 19 shares in the last quarter. 97.28% of the stock is currently owned by institutional investors.

Mastercard Stock Down 0.2%

Shares of NYSE:MA opened at $591.4220 on Friday. The business has a 50-day moving average price of $563.30 and a 200 day moving average price of $555.47. 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 has a market capitalization of $534.65 billion, a price-to-earnings ratio of 39.88, a PEG ratio of 2.43 and a beta of 1.03. Mastercard Incorporated has a 12-month low of $461.90 and a 12-month high of $594.71.

Mastercard (NYSE:MA) last released 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 company had revenue of $8.13 billion during the quarter, compared to the consensus estimate of $7.95 billion. Mastercard had a return on equity of 200.01% and a net margin of 44.93%.Mastercard’s revenue was up 16.8% compared to the same quarter last year. During the same period in the previous year, the company posted $3.50 EPS. Sell-side analysts expect that Mastercard Incorporated will post 15.91 EPS for the current year.

Mastercard Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Wednesday, July 9th were given a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Wednesday, July 9th. Mastercard’s payout ratio is currently 20.50%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MA shares. Wolfe Research set a $655.00 price objective on shares of Mastercard in a report on Monday, June 23rd. Wells Fargo & Company upped their price objective on Mastercard from $625.00 to $650.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. UBS Group increased their target price on Mastercard from $660.00 to $670.00 and gave the company a “buy” rating in a research report on Tuesday, June 3rd. The Goldman Sachs Group restated a “buy” rating on shares of Mastercard in a report on Friday, August 1st. Finally, Seaport Res Ptn upgraded Mastercard from a “hold” rating to a “strong-buy” rating in a report on Monday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Mastercard presently has a consensus rating of “Moderate Buy” and a consensus price target of $617.93.

Insider Buying and Selling

In other Mastercard news, Director Julius Genachowski sold 312 shares of Mastercard stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $570.67, for a total value of $178,049.04. Following the completion of the transaction, the director directly owned 8,469 shares of the company’s stock, valued at $4,833,004.23. The trade was a 3.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Craig Vosburg sold 14,051 shares of Mastercard stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $585.05, for a total value of $8,220,537.55. Following the completion of the transaction, the insider directly owned 58,451 shares of the company’s stock, valued at approximately $34,196,757.55. This represents a 19.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,269 shares of company stock worth $30,634,699 over the last 90 days. 0.09% of the stock is owned by insiders.

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.