Mastercard Incorporated $MA Shares Bought by Canopy Partners LLC

Canopy Partners LLC boosted its position in shares of Mastercard Incorporated (NYSE:MA) by 3.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,765 shares of the credit services provider’s stock after buying an additional 158 shares during the quarter. Mastercard makes up 1.0% of Canopy Partners LLC’s holdings, making the stock its 23rd biggest position. Canopy Partners LLC’s holdings in Mastercard were worth $2,678,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Family Legacy Financial Solutions LLC acquired a new stake in shares of Mastercard in the second quarter valued at about $26,000. Flaharty Asset Management LLC acquired a new stake in shares of Mastercard in the first quarter valued at about $27,000. Keystone Global Partners LLC acquired a new stake in shares of Mastercard in the first quarter valued at about $31,000. Hughes Financial Services LLC acquired a new stake in shares of Mastercard in the first quarter valued at about $34,000. Finally, 1 North Wealth Services LLC acquired a new stake in shares of Mastercard in the first quarter valued at about $44,000. Institutional investors and hedge funds own 97.28% of the company’s stock.

Mastercard Price Performance

Shares of MA stock opened at $579.24 on Wednesday. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.16 and a quick ratio of 1.16. The firm’s 50-day moving average is $580.78 and its two-hundred day moving average is $562.45. Mastercard Incorporated has a 12 month low of $465.59 and a 12 month high of $601.77. The company has a market capitalization of $523.64 billion, a PE ratio of 39.06, a price-to-earnings-growth ratio of 2.37 and a beta of 0.97.

Mastercard (NYSE:MA) last issued its earnings results on Thursday, July 31st. The credit services provider reported $4.15 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 company had revenue of $8.13 billion for the quarter, compared to the consensus estimate of $7.95 billion. During the same period in the previous year, the firm earned $3.50 earnings per share. Mastercard’s quarterly revenue was up 16.8% compared to the same quarter last year. Analysts predict that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Dividend Announcement

The company also recently announced 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 payout ratio is 20.50%.

Insider Buying and Selling

In other Mastercard news, CFO J. Mehra Sachin sold 17,816 shares of Mastercard stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $586.89, for a total transaction of $10,456,032.24. Following the transaction, the chief financial officer directly owned 31,234 shares of the company’s stock, valued at $18,330,922.26. The trade was a 36.32% decrease in their ownership of the stock. The sale 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.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MA. The Goldman Sachs Group reiterated a “buy” rating on shares of Mastercard in a research report on Friday, August 1st. Wolfe Research set a $655.00 target price on shares of Mastercard in a research report on Monday, June 23rd. TD Cowen restated a “buy” rating and set a $645.00 price target on shares of Mastercard in a research report on Monday, August 11th. Truist Financial lowered 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. Finally, Wells Fargo & Company boosted their price target on shares of Mastercard from $625.00 to $650.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $634.04.

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.