GC Wealth Management RIA LLC Buys 7,464 Shares of Mastercard Incorporated $MA

Key Points

• GC Wealth Management RIA LLC increased its stake in Mastercard by 97.9%, purchasing an additional 7,464 shares, bringing its total to 15,088 shares valued at approximately $8.48 million.
• Mastercard reported a strong quarterly earnings result, posting an EPS of $4.15, exceeding analyst expectations, and a revenue increase of 16.8% year-over-year.
• The company also announced a quarterly dividend of $0.76, representing an annualized payout of $3.04, with a dividend yield of 0.5% set for payment on November 7th.

GC Wealth Management RIA LLC lifted its stake in Mastercard Incorporated (NYSE:MA - Free Report) by 97.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,088 shares of the credit services provider's stock after buying an additional 7,464 shares during the quarter. Mastercard comprises 0.7% of GC Wealth Management RIA LLC's portfolio, making the stock its 22nd biggest holding. GC Wealth Management RIA LLC's holdings in Mastercard were worth $8,479,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC bought a new position in shares of Mastercard in the second quarter worth approximately $11,421,213,000. Nuveen LLC purchased a new position in shares of Mastercard during the 1st quarter valued at $4,238,764,000. Wellington Management Group LLP boosted its holdings in Mastercard by 38.6% in the 1st 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. Assenagon Asset Management S.A. boosted its holdings in Mastercard by 3,493.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 934,110 shares of the credit services provider's stock worth $524,914,000 after buying an additional 908,116 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in Mastercard by 4.7% in the 1st 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 in the last quarter. 97.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on MA shares. Truist Financial lowered their price objective on Mastercard from $640.00 to $612.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. KeyCorp lifted their target price on Mastercard from $635.00 to $660.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Wall Street Zen downgraded Mastercard from a "buy" rating to a "hold" rating in a research note on Friday. Seaport Res Ptn upgraded shares of Mastercard from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 14th. Finally, TD Cowen reissued a "buy" rating and issued a $645.00 target price on shares of Mastercard in a report on Monday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $630.89.

Mastercard Stock Performance

NYSE:MA opened at $565.63 on Monday. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.16 and a quick ratio of 1.16. Mastercard Incorporated has a 1 year low of $465.59 and a 1 year high of $601.77. The stock's 50 day simple moving average is $579.00 and its two-hundred day simple moving average is $560.57. The company has a market cap of $511.34 billion, a price-to-earnings ratio of 38.14, a PEG ratio of 2.32 and a beta of 0.99.

Mastercard (NYSE:MA - Get Free Report) last posted 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 return on equity of 200.01% and a net margin of 44.93%.The firm had revenue of $8.13 billion during the quarter, compared to the consensus estimate of $7.95 billion. During the same period in the prior year, the company earned $3.50 EPS. The company's quarterly revenue was up 16.8% compared to the same quarter last year. As a group, equities analysts anticipate that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Announces Dividend

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

Insider Transactions at Mastercard

In other news, CFO J. Mehra Sachin sold 17,263 shares of the business's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $591.00, for a total value of $10,202,433.00. Following the sale, the chief financial officer directly owned 31,234 shares in the company, valued at $18,459,294. The trade was a 35.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Julius Genachowski sold 312 shares of the stock in a transaction dated 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 approximately $4,833,004.23. The trade was a 3.55% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,391 shares of company stock worth $20,836,514. Insiders own 0.09% of the company's stock.

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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