Daymark Wealth Partners LLC Acquires 16,047 Shares of Mastercard Incorporated $MA

Daymark Wealth Partners LLC grew its stake in shares of Mastercard Incorporated (NYSE:MA) by 176.0% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 25,164 shares of the credit services provider’s stock after purchasing an additional 16,047 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Mastercard were worth $12,924,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Border to Coast Pensions Partnership Ltd boosted its holdings in shares of Mastercard by 7.3% in the 1st quarter. Border to Coast Pensions Partnership Ltd now owns 139,844 shares of the credit services provider’s stock valued at $70,089,000 after purchasing an additional 9,504 shares during the last quarter. Canada Post Corp Registered Pension Plan raised its position in shares of Mastercard by 6.1% in the 4th quarter. Canada Post Corp Registered Pension Plan now owns 65,414 shares of the credit services provider’s stock worth $37,344,000 after buying an additional 3,768 shares during the period. Marble Wealth LLC acquired a new position in Mastercard in the fourth quarter valued at $1,328,000. Charles Lim Capital Ltd acquired a new position in Mastercard in the fourth quarter valued at $15,699,000. Finally, Gamco Investors INC. ET AL grew its position in Mastercard by 5.4% during the first quarter. Gamco Investors INC. ET AL now owns 28,205 shares of the credit services provider’s stock valued at $14,093,000 after acquiring an additional 1,434 shares during the period. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Insider Transactions at Mastercard

In other news, insider Raj Seshadri sold 1,977 shares of the stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $529.73, for a total value of $1,047,276.21. Following the completion of the transaction, the insider directly owned 16,429 shares in the company, valued at $8,702,934.17. This trade represents a 10.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider J. Mehra Sachin sold 1,000 shares of the stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $572.07, for a total value of $572,070.00. Following the transaction, the insider directly owned 39,916 shares of the company’s stock, valued at approximately $22,834,746.12. The trade was a 2.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 71,357 shares of company stock worth $40,637,262 over the last quarter. Insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

MA has been the topic of a number of recent research reports. Truist Financial lifted their price target on shares of Mastercard from $554.00 to $633.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. UBS Group raised their target price on shares of Mastercard from $640.00 to $670.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Clear Str raised shares of Mastercard to a “strong-buy” rating in a research report on Thursday, July 16th. Morgan Stanley increased their price target on Mastercard from $679.00 to $681.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Finally, KeyCorp upped their target price on Mastercard from $670.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Mastercard currently has a consensus rating of “Buy” and a consensus price target of $664.71.

Mastercard Stock Performance

MA stock opened at $598.69 on Wednesday. The stock’s 50 day simple moving average is $542.94 and its 200 day simple moving average is $518.46. Mastercard Incorporated has a 12-month low of $464.52 and a 12-month high of $601.62. The firm has a market cap of $524.46 billion, a P/E ratio of 32.93, a P/E/G ratio of 1.80 and a beta of 0.72. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 3.96.

Mastercard (NYSE:MA) last released its quarterly earnings data on Thursday, July 30th. The credit services provider reported $5.04 earnings per share for the quarter, topping the consensus estimate of $4.77 by $0.27. The firm had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.08 billion. Mastercard had a net margin of 46.34% and a return on equity of 239.99%. Mastercard’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.15 earnings per share. As a group, equities research analysts predict that Mastercard Incorporated will post 19.86 EPS for the current year.

Mastercard Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Thursday, July 9th were given a $0.87 dividend. This represents a $3.48 annualized dividend and a yield of 0.6%. The ex-dividend date was Thursday, July 9th. Mastercard’s dividend payout ratio (DPR) is currently 19.14%.

Mastercard Profile

Mastercard Incorporated is a global payments technology company that operates a network connecting consumers, financial institutions, merchants, governments and businesses in more than 200 countries and territories. The company facilitates electronic payments and transaction processing for credit, debit and prepaid card products carrying the Mastercard brand, while also providing a range of payment-related services to issuers, acquirers and merchants. Its technology and network enable authorization, clearing and settlement of payments and support a broad set of use cases including point-of-sale, e-commerce and mobile payments.

Beyond core transaction processing, Mastercard offers a suite of value-added services such as fraud and risk management, identity and authentication tools, tokenization and digital wallet support, cross-border and commercial payment solutions, and data analytics and consulting services for merchants and financial partners.