Mastercard Incorporated (NYSE:MA) Stock Position Raised by Correct Capital Wealth Management

Correct Capital Wealth Management boosted its position in Mastercard Incorporated (NYSE:MA - Free Report) by 224.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,694 shares of the credit services provider's stock after buying an additional 1,172 shares during the quarter. Correct Capital Wealth Management's holdings in Mastercard were worth $929,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Mastercard by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 77,179,138 shares of the credit services provider's stock valued at $40,640,219,000 after purchasing an additional 377,302 shares in the last quarter. FMR LLC raised its stake in Mastercard by 4.3% during the fourth quarter. FMR LLC now owns 22,267,937 shares of the credit services provider's stock worth $11,725,627,000 after acquiring an additional 912,856 shares during the period. Geode Capital Management LLC raised its stake in Mastercard by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 18,657,792 shares of the credit services provider's stock worth $9,800,202,000 after acquiring an additional 282,739 shares during the period. Norges Bank acquired a new stake in Mastercard during the fourth quarter worth about $6,022,224,000. Finally, Wellington Management Group LLP raised its stake in Mastercard by 9.1% during the fourth quarter. Wellington Management Group LLP now owns 9,760,740 shares of the credit services provider's stock worth $5,139,713,000 after acquiring an additional 817,836 shares during the period. Institutional investors and hedge funds own 97.28% of the company's stock.

Wall Street Analysts Forecast Growth

MA has been the topic of several research reports. Truist Financial initiated coverage on shares of Mastercard in a research note on Monday, June 2nd. They set a "buy" rating and a $640.00 price objective on the stock. UBS Group increased their price objective on shares of Mastercard from $660.00 to $670.00 and gave the stock a "buy" rating in a research note on Tuesday, June 3rd. The Goldman Sachs Group reiterated a "buy" rating and set a $633.00 price objective on shares of Mastercard in a research note on Wednesday, April 2nd. Citigroup increased their price objective on shares of Mastercard from $650.00 to $652.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Finally, KeyCorp increased their price objective on shares of Mastercard from $630.00 to $635.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Seven research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Mastercard presently has a consensus rating of "Moderate Buy" and a consensus price target of $611.50.

Insider Buying and Selling at Mastercard

In related news, insider Linda Pistecchia Kirkpatrick sold 958 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $560.00, for a total transaction of $536,480.00. Following the completion of the sale, the insider directly owned 23,624 shares in the company, valued at approximately $13,229,440. This trade represents a 3.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Julius Genachowski sold 312 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $570.67, for a total transaction of $178,049.04. Following the sale, the director owned 8,469 shares of the company's stock, valued at $4,833,004.23. The trade was a 3.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,753 shares of company stock valued at $20,351,084. 0.09% of the stock is currently owned by corporate insiders.

Mastercard Price Performance

Shares of Mastercard stock traded down $0.77 on Thursday, hitting $564.34. The company had a trading volume of 2,577,223 shares, compared to its average volume of 2,669,861. The business has a 50-day simple moving average of $568.25 and a 200-day simple moving average of $547.33. The company has a debt-to-equity ratio of 2.81, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market cap of $514.51 billion, a PE ratio of 39.57, a PEG ratio of 2.45 and a beta of 1.02. Mastercard Incorporated has a 52 week low of $428.86 and a 52 week high of $594.71.

Mastercard (NYSE:MA - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The credit services provider reported $3.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.57 by $0.16. The business had revenue of $7.25 billion during the quarter, compared to analysts' expectations of $7.12 billion. Mastercard had a net margin of 45.21% and a return on equity of 196.87%. The business's revenue was up 14.2% on a year-over-year basis. During the same period last year, the firm posted $3.31 earnings per share. Research analysts expect that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Mastercard Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Wednesday, July 9th will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend is Wednesday, July 9th. Mastercard's payout ratio is 21.32%.

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.