Concentric Capital Strategies LP Increases Stake in Mastercard Incorporated $MA

Key Points

• Concentric Capital Strategies LP has increased its holdings in Mastercard by 57.2%, now owning 15,038 shares valued at $8.24 million.
• Mastercard's recent earnings report showed an EPS of $4.15, exceeding estimates, with revenue rising 16.8% year-over-year to $8.13 billion.
• The company announced a quarterly dividend of $0.76, with a dividend yield of 0.5% and a payout ratio of 20.50%.

Concentric Capital Strategies LP grew its position in shares of Mastercard Incorporated (NYSE:MA - Free Report) by 57.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,038 shares of the credit services provider's stock after buying an additional 5,472 shares during the quarter. Mastercard accounts for 0.8% of Concentric Capital Strategies LP's portfolio, making the stock its 21st largest position. Concentric Capital Strategies LP's holdings in Mastercard were worth $8,243,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Banque Transatlantique SA boosted its holdings in Mastercard by 3.7% in the first quarter. Banque Transatlantique SA now owns 2,016 shares of the credit services provider's stock worth $1,021,000 after purchasing an additional 72 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Mastercard by 6.4% in the first quarter. AQR Capital Management LLC now owns 497,167 shares of the credit services provider's stock worth $265,298,000 after purchasing an additional 30,070 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in Mastercard by 1.7% in the first quarter. Advisors Asset Management Inc. now owns 123,332 shares of the credit services provider's stock worth $67,601,000 after purchasing an additional 2,013 shares during the last quarter. Aprio Wealth Management LLC boosted its holdings in Mastercard by 22.9% in the first quarter. Aprio Wealth Management LLC now owns 3,627 shares of the credit services provider's stock worth $1,988,000 after purchasing an additional 675 shares during the last quarter. Finally, 1 North Wealth Services LLC purchased a new stake in Mastercard in the first quarter worth approximately $44,000. Hedge funds and other institutional investors own 97.28% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on MA shares. Wolfe Research set a $655.00 target price on shares of Mastercard in a report on Monday, June 23rd. Jefferies Financial Group restated a "buy" rating on shares of Mastercard in a report on Friday, June 6th. Morgan Stanley increased their price target on shares of Mastercard from $639.00 to $661.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. TD Cowen reiterated a "buy" rating and issued a $645.00 price target on shares of Mastercard in a research report on Monday, August 11th. Finally, Royal Bank Of Canada increased their price target on shares of Mastercard from $650.00 to $656.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $626.54.

Insiders Place Their Bets

In other news, Director Julius Genachowski sold 312 shares of the company's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $570.67, for a total value of $178,049.04. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Craig Vosburg sold 9,428 shares of the stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $353.05, for a total transaction of $3,328,555.40. Following the sale, the insider directly owned 58,451 shares of the company's stock, valued at $20,636,125.55. The trade was a 13.89% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 59,481 shares of company stock worth $32,616,595. 0.09% of the stock is owned by company insiders.

Mastercard Price Performance

Shares of MA traded down $11.43 during trading hours on Friday, reaching $584.21. 2,432,106 shares of the stock traded hands, compared to its average volume of 2,252,842. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 2.41. Mastercard Incorporated has a 52-week low of $465.59 and a 52-week high of $601.77. The company's 50-day moving average price is $572.59 and its two-hundred day moving average price is $557.52. The company has a market cap of $528.13 billion, a P/E ratio of 39.39, a price-to-earnings-growth ratio of 2.40 and a beta of 0.99.

Mastercard (NYSE:MA - Get Free Report) last announced its quarterly earnings results 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 the consensus estimate of $7.95 billion. During the same period in the previous year, the firm posted $3.50 EPS. Mastercard's revenue for the quarter was up 16.8% compared to the same quarter last year. On average, analysts anticipate that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Wednesday, July 9th were paid a dividend of $0.76 per share. The ex-dividend date of this dividend was Wednesday, July 9th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.5%. Mastercard's payout ratio is currently 20.50%.

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.