Correct Capital Wealth Management Has $929,000 Stock Holdings in Mastercard Incorporated (NYSE:MA)

Correct Capital Wealth Management boosted its position in Mastercard Incorporated (NYSE:MA - Free Report) by 224.5% in the first quarter, according to its most recent 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 period. Correct Capital Wealth Management's holdings in Mastercard were worth $929,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Mastercard in the fourth quarter valued at approximately $6,022,224,000. GAMMA Investing LLC grew its holdings in shares of Mastercard by 65,631.5% in the first quarter. GAMMA Investing LLC now owns 8,225,637 shares of the credit services provider's stock valued at $4,508,636,000 after acquiring an additional 8,213,123 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Mastercard by 15.2% in the fourth quarter. Northern Trust Corp now owns 9,149,181 shares of the credit services provider's stock valued at $4,817,684,000 after acquiring an additional 1,207,787 shares in the last quarter. Sanders Capital LLC bought a new position in shares of Mastercard in the fourth quarter valued at approximately $617,303,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Mastercard in the fourth quarter valued at approximately $561,313,000. 97.28% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Julius Genachowski sold 312 shares of Mastercard stock in a transaction on Monday, July 7th. The shares were sold at an average price of $570.67, for a total transaction of $178,049.04. Following the sale, the director directly owned 8,469 shares in the company, valued at $4,833,004.23. This trade represents a 3.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Raj Seshadri sold 1,100 shares of Mastercard stock in a transaction on Friday, June 27th. The stock was sold at an average price of $546.77, for a total transaction of $601,447.00. Following the sale, the insider owned 12,921 shares in the company, valued at $7,064,815.17. This represents a 7.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,753 shares of company stock worth $20,351,084. 0.09% of the stock is currently owned by company insiders.

Mastercard Stock Performance

NYSE:MA opened at $563.64 on Thursday. The company has a debt-to-equity ratio of 2.81, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market capitalization of $513.87 billion, a P/E ratio of 39.55, a PEG ratio of 2.44 and a beta of 1.02. The company has a 50 day moving average price of $568.25 and a 200 day moving average price of $547.33. Mastercard Incorporated has a fifty-two week low of $428.86 and a fifty-two week high of $594.71.

Mastercard (NYSE:MA - Get Free Report) last released its earnings results on Thursday, May 1st. The credit services provider reported $3.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.57 by $0.16. The company had revenue of $7.25 billion for the quarter, compared to analyst estimates of $7.12 billion. Mastercard had a net margin of 45.21% and a return on equity of 196.87%. The firm's quarterly revenue was up 14.2% on a year-over-year basis. During the same period in the prior year, the business earned $3.31 EPS. Equities research analysts forecast that Mastercard Incorporated will post 15.91 EPS for the current year.

Mastercard Dividend Announcement

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

Wall Street Analyst Weigh In

MA has been the subject of several research reports. Truist Financial assumed coverage on Mastercard in a report on Monday, June 2nd. They set a "buy" rating and a $640.00 price objective for the company. Wall Street Zen cut Mastercard from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Monness Crespi & Hardt lowered Mastercard from a "buy" rating to a "neutral" rating in a research report on Wednesday, April 9th. KeyCorp raised their target price on Mastercard from $630.00 to $635.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Finally, Evercore ISI assumed coverage on Mastercard in a research note on Wednesday, April 9th. They issued an "in-line" rating and a $550.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $611.50.

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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