Concord Asset Management LLC VA Buys 815 Shares of Mastercard Incorporated $MA

Key Points

• Concord Asset Management LLC VA increased its stake in Mastercard by 16.5% in Q2, acquiring an additional 815 shares, bringing their total to 5,769 shares valued at approximately $3.24 million.
• Mastercard's CFO J. Mehra Sachin sold 17,263 shares at an average price of $591.00, resulting in a significant decrease of 35.60% in their ownership.
• The company recently announced a quarterly dividend of $0.76 per share, with a total annualized dividend of $3.04 and a yield of 0.5%.

Concord Asset Management LLC VA increased its stake in shares of Mastercard Incorporated (NYSE:MA - Free Report) by 16.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 5,769 shares of the credit services provider's stock after buying an additional 815 shares during the period. Concord Asset Management LLC VA's holdings in Mastercard were worth $3,242,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Sequoia Financial Advisors LLC boosted its holdings in Mastercard by 9.1% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 23,013 shares of the credit services provider's stock valued at $12,932,000 after purchasing an additional 1,921 shares during the period. Vest Financial LLC boosted its holdings in Mastercard by 16.0% in the 2nd quarter. Vest Financial LLC now owns 31,821 shares of the credit services provider's stock valued at $17,881,000 after purchasing an additional 4,392 shares during the period. Pegasus Asset Management Inc. boosted its holdings in Mastercard by 1.5% in the 2nd quarter. Pegasus Asset Management Inc. now owns 17,479 shares of the credit services provider's stock valued at $9,822,000 after purchasing an additional 259 shares during the period. MGO One Seven LLC boosted its holdings in Mastercard by 2.4% in the 2nd quarter. MGO One Seven LLC now owns 18,825 shares of the credit services provider's stock valued at $10,579,000 after purchasing an additional 443 shares during the period. Finally, Welch Group LLC lifted its holdings in shares of Mastercard by 3.4% during the 2nd quarter. Welch Group LLC now owns 15,507 shares of the credit services provider's stock worth $8,714,000 after acquiring an additional 505 shares during the period. Institutional investors own 97.28% of the company's stock.

Insider Buying and Selling at Mastercard

In other news, CFO J. Mehra Sachin sold 17,263 shares of the stock in a transaction 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 completion of the sale, the chief financial officer directly owned 31,234 shares in the company, valued at $18,459,294. This represents a 35.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.09% of the stock is currently owned by company insiders.

Mastercard Price Performance

MA stock opened at $556.80 on Monday. The company has a 50 day simple moving average of $581.01 and a 200 day simple moving average of $562.90. The stock has a market cap of $503.35 billion, a price-to-earnings ratio of 37.55, a P/E/G ratio of 2.28 and a beta of 0.97. Mastercard Incorporated has a 1 year low of $465.59 and a 1 year high of $601.77. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.16 and a quick ratio of 1.16.

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 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 during the quarter, compared to analysts' expectations of $7.95 billion. During the same period in the prior year, the company posted $3.50 EPS. The company's revenue was up 16.8% on a year-over-year basis. Research analysts anticipate that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Mastercard Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Thursday, October 9th. This represents a $3.04 annualized dividend and a dividend yield of 0.5%. Mastercard's dividend payout ratio is 20.50%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on MA shares. Wolfe Research set a $655.00 price objective on shares of Mastercard in a research note on Monday, June 23rd. Morgan Stanley upped their target price on Mastercard from $639.00 to $661.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. TD Cowen restated a "buy" rating and set a $645.00 target price on shares of Mastercard in a research note on Monday, August 11th. The Goldman Sachs Group restated a "buy" rating on shares of Mastercard in a research note on Friday, August 1st. Finally, Seaport Res Ptn upgraded Mastercard from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 14th. Two investment 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. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average 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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