Corient IA LLC Purchases Shares of 500 Mastercard Incorporated $MA

Key Points

• Corient IA LLC purchased a new position in Mastercard worth approximately $274,000, acquiring 500 shares in the first quarter.
• Analysts maintain a positive outlook for Mastercard, with a consensus target price of $617.93 and 25 buy ratings, reflecting strong confidence in the company's growth potential.
• Mastercard reported quarterly earnings of $4.15 per share, exceeding expectations and showing a 16.8% increase in revenue compared to the same period last year.

Corient IA LLC purchased a new stake in shares of Mastercard Incorporated (NYSE:MA - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 500 shares of the credit services provider's stock, valued at approximately $274,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of MA. Ethos Financial Group LLC grew its position in Mastercard by 19.5% in the 1st quarter. Ethos Financial Group LLC now owns 3,174 shares of the credit services provider's stock worth $1,683,000 after purchasing an additional 518 shares during the last quarter. Whalerock Point Partners LLC lifted its holdings in Mastercard by 1.3% during the 4th quarter. Whalerock Point Partners LLC now owns 14,678 shares of the credit services provider's stock valued at $7,729,000 after purchasing an additional 185 shares during the last quarter. Fortis Advisors LLC raised its stake in shares of Mastercard by 9.4% in the first quarter. Fortis Advisors LLC now owns 871 shares of the credit services provider's stock worth $477,000 after acquiring an additional 75 shares during the last quarter. Canandaigua National Trust Co of Florida raised its stake in shares of Mastercard by 36.4% in the first quarter. Canandaigua National Trust Co of Florida now owns 693 shares of the credit services provider's stock worth $380,000 after acquiring an additional 185 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC grew its position in shares of Mastercard by 18.0% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 6,870 shares of the credit services provider's stock worth $3,766,000 after buying an additional 1,047 shares during the period. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Mastercard Stock Up 1.1%

MA traded up $6.2280 during mid-day trading on Friday, reaching $598.1480. 2,383,312 shares of the stock were exchanged, compared to its average volume of 2,799,107. The company has a 50 day moving average price of $563.30 and a two-hundred day moving average price of $555.47. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a market capitalization of $540.73 billion, a PE ratio of 40.33, a price-to-earnings-growth ratio of 2.43 and a beta of 1.03. Mastercard Incorporated has a 1 year low of $461.90 and a 1 year high of $601.77.

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

Mastercard Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Citigroup upped their target price on shares of Mastercard from $650.00 to $652.00 and gave the company a "buy" rating in a research note on Monday, May 5th. UBS Group increased their target price on shares of Mastercard from $660.00 to $670.00 and gave the stock a "buy" rating in a report on Tuesday, June 3rd. KeyCorp upped their price target 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. Wolfe Research set a $655.00 price target on shares of Mastercard in a research report on Monday, June 23rd. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of Mastercard in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Mastercard presently has an average rating of "Moderate Buy" and an average price target of $617.93.

Insiders Place Their Bets

In other news, CFO J. Mehra Sachin sold 17,816 shares of the company's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $586.89, for a total transaction of $10,456,032.24. Following the sale, the chief financial officer directly 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Craig Vosburg sold 9,428 shares of the company's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $353.05, for a total transaction of $3,328,555.40. Following the completion of the transaction, the insider owned 58,451 shares in the company, valued at approximately $20,636,125.55. This trade represents a 13.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,269 shares of company stock worth $30,634,699 in the last ninety days. 0.09% of the stock is owned by corporate insiders.

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.