Brown Miller Wealth Management LLC Boosts Stock Position in Mastercard Incorporated $MA

Key Points

• Brown Miller Wealth Management LLC increased its holdings in Mastercard by 13.4%, owning 3,968 shares valued at approximately $2.23 million following an additional purchase of 470 shares.
• Insider transactions included Julius Genachowski, who sold 312 shares for about $178,049, and CFO J. Mehra Sachin, who sold 17,816 shares worth over $10.45 million, representing a significant decrease in ownership for both individuals.
• Mastercard reported a quarterly EPS of $4.15, exceeding forecasts, and announced a dividend of $0.76 per share to be paid in November, indicating a dividend yield of 0.5%.

Brown Miller Wealth Management LLC raised its position in Mastercard Incorporated (NYSE:MA - Free Report) by 13.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,968 shares of the credit services provider's stock after purchasing an additional 470 shares during the period. Brown Miller Wealth Management LLC's holdings in Mastercard were worth $2,230,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Mastercard by 0.5% during the first quarter. Vanguard Group Inc. now owns 77,544,675 shares of the credit services provider's stock worth $42,503,787,000 after purchasing an additional 365,537 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in Mastercard during the second quarter worth about $11,421,213,000. Price T Rowe Associates Inc. MD boosted its stake in Mastercard by 4.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,096,979 shares of the credit services provider's stock worth $11,015,557,000 after buying an additional 907,184 shares during the last quarter. Wellington Management Group LLP grew its holdings in Mastercard by 38.6% in the 1st quarter. Wellington Management Group LLP now owns 13,526,118 shares of the credit services provider's stock valued at $7,413,936,000 after buying an additional 3,765,378 shares during the period. Finally, Nuveen LLC purchased a new stake in Mastercard in the 1st quarter valued at about $4,238,764,000. 97.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Julius Genachowski sold 312 shares of the 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 owned 8,469 shares of the company's stock, valued at approximately $4,833,004.23. This represents a 3.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO J. Mehra Sachin sold 17,816 shares of Mastercard stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $586.89, for a total value of $10,456,032.24. Following the sale, the chief financial officer owned 31,234 shares in the company, valued at $18,330,922.26. This represents a 36.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,391 shares of company stock worth $20,836,514. Insiders own 0.09% of the company's stock.

Mastercard Stock Performance

Mastercard stock opened at $581.08 on Friday. The firm has a market capitalization of $525.30 billion, a PE ratio of 39.18, a price-to-earnings-growth ratio of 2.38 and a beta of 0.97. Mastercard Incorporated has a one year low of $465.59 and a one year high of $601.77. The stock's 50 day moving average price is $580.26 and its 200 day moving average price is $561.85. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.16 and a current ratio of 1.16.

Mastercard (NYSE:MA - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The credit services provider reported $4.15 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $7.95 billion. During the same quarter last year, the firm posted $3.50 earnings per share. The business's quarterly revenue was up 16.8% on a year-over-year basis. As a group, sell-side analysts expect that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Mastercard Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Thursday, October 9th will be given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Thursday, October 9th. Mastercard's payout ratio is presently 20.50%.

Analyst Ratings Changes

MA has been the topic of several research analyst reports. KeyCorp raised their target price on shares of Mastercard from $635.00 to $660.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Truist Financial cut their price target on shares of Mastercard from $640.00 to $612.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. TD Cowen reissued a "buy" rating and set a $645.00 price objective on shares of Mastercard in a research note on Monday, August 11th. Wolfe Research set a $655.00 price objective on Mastercard in a report on Monday, June 23rd. Finally, Wall Street Zen cut Mastercard from a "buy" rating to a "hold" rating in a report on Friday, September 26th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $630.89.

Mastercard 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.