Corient Private Wealth LP Boosts Stake in Mastercard Incorporated $MA

Corient Private Wealth LP raised its stake in shares of Mastercard Incorporated (NYSE:MA) by 147.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,682,183 shares of the credit services provider’s stock after acquiring an additional 1,001,671 shares during the quarter. Corient Private Wealth LP owned approximately 0.19% of Mastercard worth $863,969,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in MA. Brighton Jones LLC grew its position in shares of Mastercard by 42.3% in the 4th quarter. Brighton Jones LLC now owns 6,824 shares of the credit services provider’s stock worth $3,594,000 after buying an additional 2,028 shares during the last quarter. Schnieders Capital Management LLC. lifted its position in Mastercard by 8.5% during the second quarter. Schnieders Capital Management LLC. now owns 2,548 shares of the credit services provider’s stock valued at $1,432,000 after acquiring an additional 200 shares during the last quarter. Betterment LLC boosted its stake in Mastercard by 6.5% in the second quarter. Betterment LLC now owns 947 shares of the credit services provider’s stock valued at $532,000 after acquiring an additional 58 shares in the last quarter. Worldquant Millennium Advisors LLC boosted its stake in Mastercard by 35.8% in the second quarter. Worldquant Millennium Advisors LLC now owns 677,204 shares of the credit services provider’s stock valued at $380,548,000 after acquiring an additional 178,387 shares in the last quarter. Finally, Darwin Wealth Management LLC purchased a new position in Mastercard in the second quarter worth $431,000. 97.28% of the stock is currently owned by hedge funds and other institutional investors.

Mastercard Trading Down 0.2%

NYSE:MA opened at $598.35 on Thursday. Mastercard Incorporated has a 12 month low of $464.52 and a 12 month high of $601.62. The firm has a fifty day simple moving average of $545.04 and a 200-day simple moving average of $518.79. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 3.96. The company has a market capitalization of $524.16 billion, a P/E ratio of 32.91, a PEG ratio of 1.80 and a beta of 0.72.

Mastercard (NYSE:MA) last announced its quarterly earnings data on Thursday, July 30th. The credit services provider reported $5.04 earnings per share for the quarter, beating analysts’ consensus estimates 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%. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the company earned $4.15 earnings per share. On average, equities research analysts anticipate that Mastercard Incorporated will post 19.86 earnings per share for the current year.

Mastercard Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Thursday, July 9th were paid a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 0.6%. The ex-dividend date was Thursday, July 9th. Mastercard’s payout ratio is presently 19.14%.

Insider Buying and Selling at Mastercard

In other news, CEO Michael Miebach sold 15,372 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $575.00, for a total value of $8,838,900.00. Following the transaction, the chief executive officer directly owned 93,693 shares of the company’s stock, valued at approximately $53,873,475. This represents a 14.09% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Linda Pistecchia Kirkpatrick sold 4,280 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $570.31, for a total value of $2,440,926.80. Following the completion of the transaction, the insider owned 31,179 shares of the company’s stock, valued at approximately $17,781,695.49. The trade was a 12.07% 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. In the last quarter, insiders have sold 71,357 shares of company stock worth $40,637,262. 0.09% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MA. Wolfe Research increased their price objective on Mastercard from $680.00 to $740.00 and gave the company an “outperform” rating in a report on Tuesday. Morgan Stanley boosted their target price on Mastercard from $679.00 to $681.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. The Goldman Sachs Group reaffirmed a “buy” rating and set a $701.00 target price on shares of Mastercard in a research report on Thursday, July 30th. Weiss Ratings upgraded Mastercard from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, August 17th. Finally, KeyCorp raised their price target on Mastercard from $670.00 to $680.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $664.71.

Mastercard Company 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.