Castle Rock Wealth Management LLC Decreases Position in Mastercard Incorporated $MA

Key Points

• Castle Rock Wealth Management LLC significantly reduced its position in Mastercard by 82.8% during the second quarter, selling 3,235 shares and holding only 670 shares valued at $373,000.
• Mastercard reported earnings of $4.15 per share for the last quarter, surpassing analyst expectations, with revenue of $8.13 billion, reflecting a 16.8% year-over-year increase.
• The company announced a quarterly dividend of $0.76 to be paid on November 7th, representing an annualized yield of 0.5% and indicating a 20.50% dividend payout ratio.

Castle Rock Wealth Management LLC cut its position in Mastercard Incorporated (NYSE:MA - Free Report) by 82.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 670 shares of the credit services provider's stock after selling 3,235 shares during the period. Castle Rock Wealth Management LLC's holdings in Mastercard were worth $373,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Family Legacy Financial Solutions LLC purchased a new position in Mastercard in the second quarter worth about $26,000. Flaharty Asset Management LLC purchased a new position in Mastercard in the first quarter worth about $27,000. Keystone Global Partners LLC purchased a new position in Mastercard in the first quarter worth about $31,000. Hughes Financial Services LLC bought a new position in Mastercard during the 1st quarter valued at about $34,000. Finally, 1 North Wealth Services LLC purchased a new stake in shares of Mastercard during the 1st quarter valued at about $44,000. 97.28% of the stock is owned by hedge funds and other institutional investors.

Mastercard Price Performance

Shares of NYSE:MA opened at $576.40 on Thursday. The firm's 50 day moving average price is $581.11 and its 200-day moving average price is $562.55. Mastercard Incorporated has a twelve month low of $465.59 and a twelve month high of $601.77. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 2.41. The stock has a market capitalization of $521.07 billion, a PE ratio of 38.87, a price-to-earnings-growth ratio of 2.38 and a beta of 0.97.

Mastercard (NYSE:MA - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The credit services provider reported $4.15 earnings per share for the quarter, topping the consensus estimate of $4.05 by $0.10. Mastercard had a net margin of 44.93% and a return on equity of 200.01%. The firm had revenue of $8.13 billion for the quarter, compared to analysts' expectations of $7.95 billion. During the same quarter in the prior year, the business earned $3.50 EPS. The business's quarterly revenue was up 16.8% on a year-over-year basis. Equities research analysts expect that Mastercard Incorporated will post 15.91 EPS for the current year.

Mastercard Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Thursday, October 9th will be issued a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, October 9th. Mastercard's dividend payout ratio is currently 20.50%.

Insider Transactions at Mastercard

In other Mastercard news, CFO J. Mehra Sachin sold 17,263 shares of Mastercard stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $591.00, for a total transaction of $10,202,433.00. Following the transaction, the chief financial officer owned 31,234 shares of the company's stock, valued at $18,459,294. The trade was a 35.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.09% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Wolfe Research set a $655.00 price target on shares of Mastercard in a research note on Monday, June 23rd. TD Cowen reiterated a "buy" rating and issued a $645.00 price target on shares of Mastercard in a research note on Monday, August 11th. Truist Financial reduced their price target on shares of Mastercard from $640.00 to $612.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Mastercard in a research note on Thursday, July 17th. They issued a "buy" rating and a $650.00 price target for the company. Finally, Wall Street Zen lowered shares of Mastercard from a "buy" rating to a "hold" rating in a research note on Friday, September 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price 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.

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