Corundum Group Inc. Purchases 721 Shares of Mastercard Incorporated $MA

Key Points

• Corundum Group Inc. increased its holdings in Mastercard by 42.9% during Q2, acquiring an additional 721 shares, bringing its total to 2,402 shares valued at $1,350,000.
• Mastercard's recent quarterly earnings showed an EPS of $4.15, surpassing analysts' expectations, with a significant year-over-year revenue increase of 16.8% to $8.13 billion.
• The company declared a quarterly dividend of $0.76 per share, set to be paid on November 7th, representing a yield of 0.5% and a payout ratio of 20.50%.

Corundum Group Inc. grew its position in Mastercard Incorporated (NYSE:MA - Free Report) by 42.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,402 shares of the credit services provider's stock after buying an additional 721 shares during the period. Corundum Group Inc.'s holdings in Mastercard were worth $1,350,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Segment Wealth Management LLC boosted its holdings in shares of Mastercard by 3.1% in the 2nd quarter. Segment Wealth Management LLC now owns 6,614 shares of the credit services provider's stock valued at $3,717,000 after buying an additional 197 shares in the last quarter. Franklin Street Advisors Inc. NC bought a new stake in shares of Mastercard in the 2nd quarter valued at about $352,000. Stock Yards Bank & Trust Co. boosted its holdings in shares of Mastercard by 9.1% in the 2nd quarter. Stock Yards Bank & Trust Co. now owns 13,701 shares of the credit services provider's stock valued at $7,699,000 after buying an additional 1,139 shares in the last quarter. Whelan Financial boosted its holdings in shares of Mastercard by 30.9% in the 2nd quarter. Whelan Financial now owns 1,330 shares of the credit services provider's stock valued at $748,000 after buying an additional 314 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of Mastercard by 20.8% in the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,523 shares of the credit services provider's stock valued at $3,665,000 after buying an additional 1,121 shares in the last quarter. 97.28% of the stock is currently owned by institutional investors.

Mastercard Stock Performance

MA opened at $581.08 on Friday. Mastercard Incorporated has a 12-month low of $465.59 and a 12-month high of $601.77. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 2.41. The firm has a market capitalization of $525.30 billion, a PE ratio of 39.18, a P/E/G ratio of 2.37 and a beta of 0.97. The firm has a 50 day moving average of $580.26 and a two-hundred day moving average of $561.67.

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

Mastercard Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Thursday, October 9th will be given a dividend of $0.76 per share. The ex-dividend date of this dividend is Thursday, October 9th. This represents a $3.04 dividend on an annualized basis and a yield of 0.5%. Mastercard's dividend payout ratio (DPR) is currently 20.50%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MA shares. Wall Street Zen cut shares of Mastercard from a "buy" rating to a "hold" rating in a report on Friday, September 26th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Mastercard in a research note on Thursday, July 17th. They issued a "buy" rating and a $650.00 target price for the company. The Goldman Sachs Group reiterated a "buy" rating on shares of Mastercard in a research note on Friday, August 1st. Jefferies Financial Group reiterated a "buy" rating on shares of Mastercard in a research note on Friday, June 6th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Mastercard in a research note on Saturday, September 27th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, Mastercard presently has an average rating of "Buy" and an average price target of $630.89.

Insider Buying and Selling

In other news, Director Julius Genachowski sold 312 shares of Mastercard stock in a transaction that occurred 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 completion of the transaction, the director directly owned 8,469 shares of the company's stock, valued at $4,833,004.23. The trade was a 3.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO J. Mehra Sachin sold 17,816 shares of Mastercard stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $586.89, for a total transaction of $10,456,032.24. Following the transaction, the chief financial officer directly owned 31,234 shares of the company's stock, valued at approximately $18,330,922.26. This trade represents a 36.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,391 shares of company stock valued at $20,836,514 over the last three months. 0.09% of the stock is currently owned by insiders.

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.

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