King Luther Capital Management Corp Purchases 3,175 Shares of Mastercard Incorporated (NYSE:MA)

Key Points

• King Luther Capital Management Corp increased its holdings in Mastercard by 1.9% in Q1, bringing its total to approximately 168,378 shares, valued at over $92 million.
• Mastercard's latest quarterly earnings showed an EPS of $4.15, surpassing estimates of $4.05, with year-over-year revenue growth of 16.8% to $8.13 billion.
• Several analysts have raised their price targets for Mastercard, with KeyCorp setting a new target of $660, and the stock currently holds a consensus rating of "Moderate Buy."

King Luther Capital Management Corp raised its holdings in Mastercard Incorporated (NYSE:MA - Free Report) by 1.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 168,378 shares of the credit services provider's stock after purchasing an additional 3,175 shares during the quarter. King Luther Capital Management Corp's holdings in Mastercard were worth $92,291,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Mastercard by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 77,544,675 shares of the credit services provider's stock worth $42,503,787,000 after purchasing an additional 365,537 shares in the last quarter. Northern Trust Corp boosted its position in shares of Mastercard by 15.2% in the 4th 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 during the period. GAMMA Investing LLC raised its stake in shares of Mastercard by 65,631.5% during 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 buying an additional 8,213,123 shares in the last quarter. Nuveen Asset Management LLC increased its stake in Mastercard by 1.0% in the 4th quarter. Nuveen Asset Management LLC now owns 7,610,333 shares of the credit services provider's stock valued at $4,007,373,000 after purchasing an additional 71,874 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Mastercard by 11.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,033,571 shares of the credit services provider's stock worth $3,703,667,000 after acquiring an additional 724,887 shares during the last quarter. Hedge funds and other institutional investors own 97.28% of the company's stock.

Mastercard Price Performance

MA traded up $0.29 during midday trading on Tuesday, reaching $573.88. 2,593,766 shares of the company's stock were exchanged, compared to its average volume of 2,583,637. The firm has a market capitalization of $518.80 billion, a price-to-earnings ratio of 38.70, a price-to-earnings-growth ratio of 2.36 and a beta of 1.03. 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 Incorporated has a one year low of $454.89 and a one year high of $594.71. The business has a 50-day simple moving average of $563.59 and a two-hundred day simple moving average of $553.98.

Mastercard (NYSE:MA - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The credit services provider reported $4.15 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $7.95 billion. During the same quarter in the previous year, the company posted $3.50 EPS. Mastercard's revenue was up 16.8% on a year-over-year basis. As a group, research analysts predict that Mastercard Incorporated will post 15.91 EPS for the current year.

Mastercard Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Wednesday, July 9th were issued a $0.76 dividend. The ex-dividend date of this dividend was Wednesday, July 9th. This represents a $3.04 annualized dividend and a dividend yield of 0.5%. Mastercard's payout ratio is 20.50%.

Analysts Set New Price Targets

MA has been the subject of a number of recent analyst reports. Truist Financial lowered their price objective on Mastercard from $640.00 to $612.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. Royal Bank Of Canada upped their price objective on Mastercard from $650.00 to $656.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. UBS Group upped their target price on Mastercard from $660.00 to $670.00 and gave the company a "buy" rating in a report on Tuesday, June 3rd. KeyCorp increased their price objective on Mastercard from $635.00 to $660.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Finally, Macquarie decreased their price target on Mastercard from $645.00 to $610.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Five research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $615.33.

Insider Activity

In other news, insider Raj Seshadri sold 1,100 shares of the company's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $546.77, for a total value of $601,447.00. Following the sale, the insider directly owned 12,921 shares of the company's stock, valued at approximately $7,064,815.17. This represents a 7.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Craig Vosburg sold 14,051 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $585.05, for a total transaction of $8,220,537.55. Following the completion of the sale, the insider directly owned 58,451 shares in the company, valued at approximately $34,196,757.55. The trade was a 19.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,453 shares of company stock worth $20,178,667 over the last quarter. Corporate 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.