Correct Capital Wealth Management Increases Stock Holdings in Mastercard Incorporated (NYSE:MA)

Correct Capital Wealth Management lifted its position in Mastercard Incorporated (NYSE:MA - Free Report) by 224.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,694 shares of the credit services provider's stock after purchasing 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.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MA. Measured Risk Portfolios Inc. bought a new stake in Mastercard in the 4th quarter worth approximately $31,000. Navigoe LLC bought a new position in Mastercard during the fourth quarter valued at approximately $33,000. 10Elms LLP bought a new position in Mastercard during the fourth quarter valued at approximately $33,000. Truvestments Capital LLC boosted its stake in shares of Mastercard by 62.5% in the 4th quarter. Truvestments Capital LLC now owns 65 shares of the credit services provider's stock valued at $34,000 after purchasing an additional 25 shares in the last quarter. Finally, Mpwm Advisory Solutions LLC bought a new stake in Mastercard in the fourth quarter worth $36,000. 97.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on MA shares. KeyCorp lifted their price objective on Mastercard from $630.00 to $635.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. The Goldman Sachs Group reissued a "buy" rating and set a $633.00 price objective on shares of Mastercard in a research note on Wednesday, April 2nd. Wall Street Zen lowered Mastercard from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Evercore ISI began coverage on shares of Mastercard in a report on Wednesday, April 9th. They set an "in-line" rating and a $550.00 price target for the company. Finally, Macquarie lowered their price target on shares of Mastercard from $645.00 to $610.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Seven equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $611.50.

Mastercard Stock Down 2.7%

Shares of MA traded down $14.95 during trading hours on Friday, hitting $548.57. The company had a trading volume of 1,822,744 shares, compared to its average volume of 2,666,897. The firm has a fifty day moving average price of $568.60 and a 200-day moving average price of $547.57. 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 $500.14 billion, a price-to-earnings ratio of 38.44, a P/E/G 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 released its quarterly earnings data on Thursday, May 1st. The credit services provider reported $3.73 earnings per share for the quarter, beating analysts' consensus estimates of $3.57 by $0.16. The business had revenue of $7.25 billion during 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%. Mastercard's revenue was up 14.2% compared to the same quarter last year. During the same period last year, the business earned $3.31 EPS. On average, equities research analysts forecast that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Mastercard Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders 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 dividend yield of 0.55%. The ex-dividend date of this dividend is Wednesday, July 9th. Mastercard's payout ratio is 21.32%.

Insiders Place Their Bets

In other news, insider Craig Vosburg sold 14,051 shares of the business's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $585.05, for a total value of $8,220,537.55. Following the completion of the transaction, the insider owned 58,451 shares in the company, valued at $34,196,757.55. The trade was a 19.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Raj Seshadri sold 1,100 shares of Mastercard stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $546.77, for a total value of $601,447.00. Following the completion of the sale, the insider owned 12,921 shares of the company's stock, valued at $7,064,815.17. The trade was a 7.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,753 shares of company stock valued at $20,351,084. Insiders own 0.09% of the company's stock.

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.