Costello Asset Management INC Takes $1.01 Million Position in Mastercard Incorporated (NYSE:MA)

Key Points

• Costello Asset Management INC made a new investment of approximately $1.01 million in Mastercard, purchasing 1,837 shares during the first quarter.
• Several hedge funds, such as Accredited Investors Inc. and Wealthstream Advisors Inc., have also increased their holdings in Mastercard, indicating growing institutional interest in the company.
• Mastercard recently reported earnings of $4.15 EPS, surpassing analysts' expectations and demonstrating 16.8% year-over-year revenue growth for the quarter.

Costello Asset Management INC acquired a new stake in Mastercard Incorporated (NYSE:MA - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,837 shares of the credit services provider's stock, valued at approximately $1,007,000.

A number of other institutional investors have also recently bought and sold shares of the business. Whalerock Point Partners LLC lifted its position in shares of Mastercard by 1.3% in the fourth quarter. Whalerock Point Partners LLC now owns 14,678 shares of the credit services provider's stock worth $7,729,000 after purchasing an additional 185 shares in the last quarter. Fortis Advisors LLC raised its holdings in shares of Mastercard by 9.4% in the 1st quarter. Fortis Advisors LLC now owns 871 shares of the credit services provider's stock valued at $477,000 after purchasing an additional 75 shares during the period. Canandaigua National Trust Co of Florida lifted its position in shares of Mastercard by 36.4% in the first quarter. Canandaigua National Trust Co of Florida now owns 693 shares of the credit services provider's stock valued at $380,000 after buying an additional 185 shares during the last quarter. Kingswood Wealth Advisors LLC increased its holdings in shares of Mastercard by 18.0% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 6,870 shares of the credit services provider's stock worth $3,766,000 after acquiring an additional 1,047 shares during the last quarter. Finally, Baldwin Investment Management LLC lifted its holdings in Mastercard by 5.7% during the 4th quarter. Baldwin Investment Management LLC now owns 1,731 shares of the credit services provider's stock valued at $911,000 after purchasing an additional 93 shares during the last quarter. Institutional investors and hedge funds own 97.28% of the company's stock.

Mastercard Stock Performance

MA traded down $7.78 during midday trading on Thursday, hitting $561.35. 2,979,577 shares of the company traded hands, compared to its average volume of 2,598,424. The firm has a market capitalization of $511.79 billion, a PE ratio of 37.85, a price-to-earnings-growth ratio of 2.34 and a beta of 1.03. The company's 50-day moving average is $564.08 and its 200 day moving average is $552.92. Mastercard Incorporated has a 52 week low of $451.03 and a 52 week high of $594.71. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 2.41.

Mastercard (NYSE:MA - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The credit services provider reported $4.15 EPS for the quarter, beating the consensus estimate of $4.05 by $0.10. The firm had revenue of $8.13 billion for the quarter, compared to the consensus estimate of $7.95 billion. Mastercard had a net margin of 44.93% and a return on equity of 200.01%. The company's revenue was up 16.8% on a year-over-year basis. During the same period last year, the firm earned $3.50 EPS. On average, research analysts expect 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. Stockholders of record on Wednesday, July 9th will be issued a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Wednesday, July 9th. Mastercard's dividend payout ratio (DPR) is 20.50%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on MA shares. Truist Financial lowered their target price on Mastercard from $640.00 to $612.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. KeyCorp boosted their price objective on shares of Mastercard from $635.00 to $660.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Macquarie decreased their target price on shares of Mastercard from $645.00 to $610.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Wells Fargo & Company boosted their price target on Mastercard from $625.00 to $650.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Finally, Morgan Stanley lifted their price objective on Mastercard from $639.00 to $661.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Five investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $615.33.

Insider Activity

In other news, insider Linda Pistecchia Kirkpatrick sold 958 shares of the firm's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $560.00, for a total value of $536,480.00. Following the completion of the sale, the insider owned 23,624 shares of the company's stock, valued at $13,229,440. This trade represents a 3.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Raj Seshadri sold 1,100 shares of the business's stock in a transaction that occurred 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 directly owned 12,921 shares in the company, valued at approximately $7,064,815.17. This represents a 7.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,603 shares of company stock worth $20,265,667 over the last 90 days. Insiders own 0.09% of the company's stock.

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.