Corundum Group Inc. Sells 1,381 Shares of Mastercard Incorporated (NYSE:MA)

Corundum Group Inc. reduced its stake in shares of Mastercard Incorporated (NYSE:MA - Free Report) by 45.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,681 shares of the credit services provider's stock after selling 1,381 shares during the quarter. Corundum Group Inc.'s holdings in Mastercard were worth $921,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Mastercard during the fourth quarter worth about $6,022,224,000. GAMMA Investing LLC lifted its position in shares of Mastercard by 65,631.5% in the 1st quarter. GAMMA Investing LLC now owns 8,225,637 shares of the credit services provider's stock worth $4,508,636,000 after acquiring an additional 8,213,123 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Mastercard during the 4th quarter worth approximately $837,017,000. Proficio Capital Partners LLC increased its position in shares of Mastercard by 79,739.7% during the fourth quarter. Proficio Capital Partners LLC now owns 1,555,277 shares of the credit services provider's stock valued at $818,962,000 after purchasing an additional 1,553,329 shares during the period. Finally, Northern Trust Corp raised its stake 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 purchasing an additional 1,207,787 shares in the last quarter. 97.28% of the stock is owned by institutional investors.

Mastercard Trading Down 0.7%

Shares of MA stock traded down $4.05 on Thursday, reaching $545.65. 1,003,795 shares of the stock were exchanged, compared to its average volume of 2,826,244. The company has a debt-to-equity ratio of 2.81, a current ratio of 1.11 and a quick ratio of 1.11. Mastercard Incorporated has a one year low of $428.86 and a one year high of $594.71. The stock has a market cap of $497.47 billion, a PE ratio of 38.26, a P/E/G ratio of 2.43 and a beta of 1.05. The stock has a 50 day moving average price of $561.86 and a 200 day moving average price of $545.04.

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

Mastercard Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Wednesday, July 9th will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend is Wednesday, July 9th. Mastercard's dividend payout ratio is 21.32%.

Insider Buying and Selling

In other Mastercard news, insider Sandra A. Arkell sold 150 shares of Mastercard stock in a transaction on Monday, May 12th. The shares were sold at an average price of $580.00, for a total transaction of $87,000.00. Following the completion of the sale, the insider now owns 3,255 shares of the company's stock, valued at approximately $1,887,900. The trade was a 4.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Craig Vosburg sold 14,051 shares of the stock in a transaction on Thursday, June 5th. The shares were 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 now directly owns 58,451 shares in the company, valued at approximately $34,196,757.55. This trade represents a 19.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,115 shares of company stock valued at $18,324,718 over the last ninety days. Insiders own 0.09% of the company's stock.

Analyst Ratings Changes

MA has been the topic of a number of recent research reports. Wolfe Research set a $655.00 price target on shares of Mastercard in a research note on Monday. Jefferies Financial Group reiterated a "buy" rating on shares of Mastercard in a research report on Friday, June 6th. Wall Street Zen cut shares of Mastercard from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Truist Financial assumed coverage on shares of Mastercard in a research report on Monday, June 2nd. They issued a "buy" rating and a $640.00 price target for the company. Finally, UBS Group upped their price objective on Mastercard from $660.00 to $670.00 and gave the company a "buy" rating in a research note on Tuesday, June 3rd. Seven analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Mastercard has a consensus rating of "Moderate Buy" and an average 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.