Cornerstone Wealth Group LLC Buys 286 Shares of Mastercard Incorporated (NYSE:MA)

Cornerstone Wealth Group LLC grew its stake in shares of Mastercard Incorporated (NYSE:MA) by 5.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,678 shares of the credit services provider’s stock after buying an additional 286 shares during the period. Cornerstone Wealth Group LLC’s holdings in Mastercard were worth $2,804,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Coppell Advisory Solutions Corp. purchased a new position in shares of Mastercard in the first quarter valued at $608,000. SteelPeak Wealth LLC grew its holdings in shares of Mastercard by 48.6% in the second quarter. SteelPeak Wealth LLC now owns 4,928 shares of the credit services provider’s stock valued at $2,174,000 after purchasing an additional 1,612 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Mastercard in the first quarter valued at $2,938,000. OMC Financial Services LTD purchased a new position in shares of Mastercard in the first quarter valued at $17,854,000. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of Mastercard in the second quarter valued at $6,850,000. Institutional investors own 97.28% of the company’s stock.

Mastercard Stock Performance

MA stock opened at $513.96 on Thursday. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.14 and a quick ratio of 1.14. The business has a 50-day moving average price of $494.33 and a 200 day moving average price of $466.27. The company has a market capitalization of $474.81 billion, a P/E ratio of 39.29, a PEG ratio of 2.27 and a beta of 1.10. Mastercard Incorporated has a 1-year low of $373.11 and a 1-year high of $518.82.

Mastercard (NYSE:MA) last released its quarterly earnings data on Wednesday, July 31st. The credit services provider reported $3.59 earnings per share for the quarter, beating the consensus estimate of $3.51 by $0.08. The firm had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.85 billion. Mastercard had a return on equity of 179.78% and a net margin of 46.45%. As a group, equities research analysts forecast that Mastercard Incorporated will post 14.32 EPS for the current fiscal year.

Mastercard Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Wednesday, October 9th will be issued a $0.66 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $2.64 annualized dividend and a dividend yield of 0.51%. Mastercard’s payout ratio is currently 20.18%.

Insiders Place Their Bets

In other Mastercard news, CFO J. Mehra Sachin sold 13,439 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $455.00, for a total transaction of $6,114,745.00. Following the completion of the sale, the chief financial officer now directly owns 27,304 shares of the company’s stock, valued at approximately $12,423,320. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Mastercard news, CFO J. Mehra Sachin sold 13,439 shares of Mastercard stock in a transaction on Monday, August 5th. The shares were sold at an average price of $455.00, for a total value of $6,114,745.00. Following the transaction, the chief financial officer now directly owns 27,304 shares of the company’s stock, valued at approximately $12,423,320. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Venkata R. Madabhushi sold 4,685 shares of Mastercard stock in a transaction on Friday, September 13th. The stock was sold at an average price of $493.10, for a total transaction of $2,310,173.50. Following the completion of the transaction, the chief marketing officer now directly owns 17,118 shares in the company, valued at $8,440,885.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 340,809 shares of company stock worth $159,610,703. 0.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. William Blair raised shares of Mastercard to a “strong-buy” rating in a report on Wednesday, July 31st. Citigroup lifted their price objective on shares of Mastercard from $528.00 to $538.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Oppenheimer initiated coverage on shares of Mastercard in a research note on Tuesday, October 1st. They set an “outperform” rating and a $591.00 price objective for the company. Piper Sandler lifted their price objective on shares of Mastercard from $531.00 to $536.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Mastercard from $570.00 to $593.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Mastercard presently has an average rating of “Moderate Buy” and a consensus price target of $525.68.

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.