Mastercard Incorporated $MA Holdings Raised by Meeder Asset Management Inc.

Key Points

• Meeder Asset Management increased its Mastercard stake by 58.4% in the first quarter, buying 37,969 more shares and lifting its position to 102,985 shares worth about $51.5 million.
• Mastercard reported strong quarterly results, with EPS of $4.60 beating estimates and revenue of $8.40 billion topping forecasts; revenue rose 15.8% year over year.
• Wall Street remains bullish on MA, with an average analyst rating of “Buy” and an average price target of $653.92, while the company also announced a quarterly dividend of $0.87 per share.

Meeder Asset Management Inc. boosted its stake in shares of Mastercard Incorporated (NYSE:MA - Free Report) by 58.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 102,985 shares of the credit services provider's stock after purchasing an additional 37,969 shares during the period. Mastercard makes up approximately 2.9% of Meeder Asset Management Inc.'s portfolio, making the stock its 5th biggest holding. Meeder Asset Management Inc.'s holdings in Mastercard were worth $51,457,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of MA. Brighton Jones LLC lifted its holdings in Mastercard by 42.3% in the fourth quarter. Brighton Jones LLC now owns 6,824 shares of the credit services provider's stock valued at $3,594,000 after acquiring an additional 2,028 shares during the period. Schnieders Capital Management LLC. grew its stake in shares of Mastercard by 8.5% during the 2nd quarter. Schnieders Capital Management LLC. now owns 2,548 shares of the credit services provider's stock worth $1,432,000 after purchasing an additional 200 shares during the period. Betterment LLC increased its holdings in shares of Mastercard by 6.5% during the 2nd quarter. Betterment LLC now owns 947 shares of the credit services provider's stock valued at $532,000 after purchasing an additional 58 shares in the last quarter. Worldquant Millennium Advisors LLC increased its holdings in shares of Mastercard by 35.8% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 677,204 shares of the credit services provider's stock valued at $380,548,000 after purchasing an additional 178,387 shares in the last quarter. Finally, Darwin Wealth Management LLC acquired a new position in shares of Mastercard in the 2nd quarter valued at $431,000. Hedge funds and other institutional investors own 97.28% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MA. Loop Capital reissued a "buy" rating and set a $631.00 price target on shares of Mastercard in a report on Wednesday, June 3rd. Wall Street Zen cut shares of Mastercard from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Citigroup decreased their price objective on shares of Mastercard from $735.00 to $675.00 and set a "buy" rating for the company in a research report on Tuesday, April 14th. Susquehanna lowered their target price on shares of Mastercard from $670.00 to $665.00 and set a "positive" rating on the stock in a research note on Friday, May 1st. Finally, Morgan Stanley restated an "overweight" rating and set a $679.00 target price on shares of Mastercard in a research report on Friday, May 1st. Eight investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $653.92.

Mastercard Stock Down 0.0%

MA stock opened at $543.55 on Monday. Mastercard Incorporated has a 52 week low of $464.52 and a 52 week high of $601.77. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 2.56. The firm has a 50-day simple moving average of $503.99 and a 200-day simple moving average of $515.80. The stock has a market capitalization of $480.27 billion, a P/E ratio of 31.46, a P/E/G ratio of 1.70 and a beta of 0.73.

Mastercard (NYSE:MA - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The credit services provider reported $4.60 earnings per share for the quarter, beating analysts' consensus estimates of $4.41 by $0.19. Mastercard had a net margin of 45.88% and a return on equity of 212.96%. The firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.26 billion. During the same period last year, the company posted $3.73 EPS. Mastercard's quarterly revenue was up 15.8% compared to the same quarter last year. Equities analysts forecast that Mastercard Incorporated will post 19.62 earnings per share for the current fiscal year.

Mastercard Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Thursday, July 9th will be issued a dividend of $0.87 per share. The ex-dividend date of this dividend is Thursday, July 9th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 0.6%. Mastercard's dividend payout ratio is presently 20.14%.

Insider Activity at Mastercard

In related news, insider Sandra A. Arkell sold 200 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $540.00, for a total value of $108,000.00. Following the completion of the transaction, the insider directly owned 3,322 shares of the company's stock, valued at approximately $1,793,880. This represents a 5.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Raj Seshadri sold 4,828 shares of the firm's stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $525.00, for a total value of $2,534,700.00. Following the completion of the transaction, the insider owned 16,429 shares in the company, valued at $8,625,225. The trade was a 22.71% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 7,005 shares of company stock worth $3,689,976. Company insiders own 0.09% of the company's stock.

About Mastercard

Mastercard Incorporated is a global payments technology company that operates a network connecting consumers, financial institutions, merchants, governments and businesses in more than 200 countries and territories. The company facilitates electronic payments and transaction processing for credit, debit and prepaid card products carrying the Mastercard brand, while also providing a range of payment-related services to issuers, acquirers and merchants. Its technology and network enable authorization, clearing and settlement of payments and support a broad set of use cases including point-of-sale, e-commerce and mobile payments.

Beyond core transaction processing, Mastercard offers a suite of value-added services such as fraud and risk management, identity and authentication tools, tokenization and digital wallet support, cross-border and commercial payment solutions, and data analytics and consulting services for merchants and financial partners.

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