Concurrent Investment Advisors LLC Buys 1,420 Shares of Mastercard Incorporated $MA

Key Points

• Concurrent Investment Advisors LLC increased its stake in Mastercard by 6.3%, acquiring an additional 1,420 shares for a total holding of 23,939 shares, valued at approximately $13.45 million.
• Several hedge funds have also raised their positions in Mastercard, with Brighton Jones LLC boosting its stake by 42.3% and other firms like GAMMA Investing LLC and Elevation Point Wealth Partners LLC also making significant increases.
• The company's CFO recently sold 17,263 shares at an average price of $591, representing a 35.60% decrease in his ownership, and it was disclosed that company insiders own only 0.09% of Mastercard's stock.

Concurrent Investment Advisors LLC grew its stake in shares of Mastercard Incorporated (NYSE:MA - Free Report) by 6.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,939 shares of the credit services provider's stock after buying an additional 1,420 shares during the period. Concurrent Investment Advisors LLC's holdings in Mastercard were worth $13,452,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Brighton Jones LLC increased its position in shares of Mastercard by 42.3% in the fourth quarter. Brighton Jones LLC now owns 6,824 shares of the credit services provider's stock worth $3,594,000 after purchasing an additional 2,028 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Mastercard by 19.9% in the first quarter. GAMMA Investing LLC now owns 15,007 shares of the credit services provider's stock worth $8,226,000 after purchasing an additional 2,493 shares during the last quarter. Salem Investment Counselors Inc. increased its position in shares of Mastercard by 3.1% in the first quarter. Salem Investment Counselors Inc. now owns 1,589 shares of the credit services provider's stock worth $871,000 after purchasing an additional 48 shares during the last quarter. West Branch Capital LLC increased its position in shares of Mastercard by 10.9% in the first quarter. West Branch Capital LLC now owns 7,669 shares of the credit services provider's stock worth $4,203,000 after purchasing an additional 756 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC increased its position in shares of Mastercard by 12.8% in the first quarter. Elevation Point Wealth Partners LLC now owns 4,731 shares of the credit services provider's stock worth $2,593,000 after purchasing an additional 537 shares during the last quarter. 97.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MA has been the topic of several research analyst reports. Robert W. Baird upped their price objective on shares of Mastercard from $640.00 to $660.00 and gave the stock an "outperform" rating in a research report on Monday, October 6th. The Goldman Sachs Group restated a "buy" rating on shares of Mastercard in a research report on Friday, August 1st. Morgan Stanley upped their price objective 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. Deutsche Bank Aktiengesellschaft started coverage on Mastercard in a research note on Thursday, July 17th. They issued a "buy" rating and a $650.00 target price for the company. Finally, Seaport Res Ptn raised 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 issued a Hold rating to the company's stock. According to MarketBeat, Mastercard has a consensus rating of "Buy" and an average target price of $634.04.

Insider Buying and Selling at Mastercard

In other news, CFO J. Mehra Sachin sold 17,263 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was 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 owned 31,234 shares of the company's stock, valued at approximately $18,459,294. This represents a 35.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.09% of the company's stock.

Mastercard Stock Down 1.4%

Shares of MA opened at $556.80 on Friday. The firm has a market cap of $503.35 billion, a P/E 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. The stock has a 50 day simple moving average of $581.01 and a two-hundred day simple moving average of $562.86.

Mastercard (NYSE:MA - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The credit services provider reported $4.15 earnings per share for the quarter, beating analysts' consensus estimates of $4.05 by $0.10. The firm had revenue of $8.13 billion during the quarter, compared to analyst estimates of $7.95 billion. Mastercard had a return on equity of 200.01% and a net margin of 44.93%.The business's quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.50 earnings per share. On average, analysts forecast that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Thursday, October 9th will be paid 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 dividend payout ratio is 20.50%.

About Mastercard

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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