Cyndeo Wealth Partners LLC Boosts Holdings in Mastercard Incorporated $MA

Key Points

• Cyndeo Wealth Partners LLC increased its holdings in Mastercard by 6.5%, now owning 11,684 shares valued at approximately $6.57 million.
• Several hedge funds, including Vanguard Group, have also increased their stakes, with Vanguard owning over 77 million shares worth around $42.5 billion.
• Mastercard recently announced a quarterly dividend of $0.76 per share, expected to be paid on November 7th, signaling a 0.5% dividend yield.

Cyndeo Wealth Partners LLC grew its holdings in shares of Mastercard Incorporated (NYSE:MA - Free Report) by 6.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,684 shares of the credit services provider's stock after acquiring an additional 716 shares during the quarter. Cyndeo Wealth Partners LLC's holdings in Mastercard were worth $6,566,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Mastercard by 0.5% in the first quarter. Vanguard Group Inc. now owns 77,544,675 shares of the credit services provider's stock worth $42,503,787,000 after buying an additional 365,537 shares during the period. Kingstone Capital Partners Texas LLC purchased a new position in shares of Mastercard in the second quarter worth $11,421,213,000. Price T Rowe Associates Inc. MD increased its stake in shares of Mastercard by 4.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,096,979 shares of the credit services provider's stock worth $11,015,557,000 after buying an additional 907,184 shares during the period. Wellington Management Group LLP increased its stake in shares of Mastercard by 38.6% in the first quarter. Wellington Management Group LLP now owns 13,526,118 shares of the credit services provider's stock worth $7,413,936,000 after buying an additional 3,765,378 shares during the period. Finally, Nuveen LLC purchased a new position in shares of Mastercard in the first quarter worth $4,238,764,000. 97.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MA has been the topic of several analyst reports. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Mastercard in a research note on Friday, August 1st. Robert W. Baird lifted their target price on shares of Mastercard from $640.00 to $660.00 and gave the stock an "outperform" rating in a research note on Monday. Morgan Stanley lifted their target price on shares of Mastercard from $639.00 to $661.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Weiss Ratings reiterated a "buy (b)" rating on shares of Mastercard in a report on Wednesday. Finally, Royal Bank Of Canada lifted their price target on shares of Mastercard from $650.00 to $656.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Two 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $634.04.

Insider Activity at Mastercard

In other news, CFO J. Mehra Sachin sold 17,263 shares of the business's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $591.00, for a total transaction of $10,202,433.00. Following the sale, the chief financial officer owned 31,234 shares in the company, valued at approximately $18,459,294. The trade was a 35.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.09% of the company's stock.

Mastercard Stock Performance

Shares of MA stock opened at $563.77 on Friday. Mastercard Incorporated has a 12 month low of $465.59 and a 12 month high of $601.77. The stock has a market cap of $509.65 billion, a PE ratio of 38.02, a price-to-earnings-growth ratio of 2.36 and a beta of 0.97. 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 company's fifty day moving average price is $581.06 and its 200-day moving average price is $562.68.

Mastercard (NYSE:MA - Get Free Report) last announced its earnings results on Thursday, July 31st. The credit services provider reported $4.15 EPS for the quarter, beating 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 firm had revenue of $8.13 billion for the quarter, compared to analysts' expectations of $7.95 billion. During the same quarter in the previous year, the business posted $3.50 EPS. The company's quarterly revenue was up 16.8% on a year-over-year basis. On average, equities analysts expect that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Mastercard Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Thursday, October 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 0.5%. The ex-dividend date is Thursday, October 9th. Mastercard's payout ratio is 20.50%.

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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