NorthCrest Asset Manangement LLC Buys 668 Shares of Mastercard Incorporated $MA

Key Points

• NorthCrest Asset Management LLC increased its stake in Mastercard by 1.0%, now holding 69,559 shares valued at approximately $39.6 million, representing 1.1% of its overall portfolio.
• Mastercard reported impressive quarterly earnings with an EPS of $4.15, surpassing the analysts' estimate of $4.05, and its revenue of $8.13 billion showed a year-over-year increase of 16.8%.
• The company declared a quarterly dividend of $0.76 per share, with the ex-dividend date set for October 9th, contributing to an annualized yield of 0.5%.

NorthCrest Asset Manangement LLC raised its position in Mastercard Incorporated (NYSE:MA - Free Report) by 1.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 69,559 shares of the credit services provider's stock after buying an additional 668 shares during the period. Mastercard accounts for 1.1% of NorthCrest Asset Manangement LLC's investment portfolio, making the stock its 16th biggest holding. NorthCrest Asset Manangement LLC's holdings in Mastercard were worth $39,596,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC boosted its holdings in Mastercard by 16.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 369,640 shares of the credit services provider's stock worth $210,414,000 after buying an additional 52,850 shares during the period. Strathmore Capital Advisors Inc. bought a new stake in shares of Mastercard during the 2nd quarter worth $695,000. Atticus Wealth Management LLC lifted its stake in Mastercard by 18.1% in the second quarter. Atticus Wealth Management LLC now owns 1,651 shares of the credit services provider's stock worth $928,000 after purchasing an additional 253 shares during the last quarter. Wedmont Private Capital lifted its stake in Mastercard by 4.8% in the second quarter. Wedmont Private Capital now owns 11,299 shares of the credit services provider's stock worth $6,385,000 after purchasing an additional 522 shares during the last quarter. Finally, Swedbank AB lifted its stake in Mastercard by 24.2% in the second quarter. Swedbank AB now owns 2,020,661 shares of the credit services provider's stock worth $1,135,490,000 after purchasing an additional 393,237 shares during the last quarter. Hedge funds and other institutional investors own 97.28% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Royal Bank Of Canada upped their price objective on shares of Mastercard from $650.00 to $656.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. KeyCorp upped their price objective on shares of Mastercard from $635.00 to $660.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Wolfe Research set a $655.00 price objective on shares of Mastercard in a research note on Monday, June 23rd. UBS Group boosted their price target on shares of Mastercard from $660.00 to $670.00 and gave the company a "buy" rating in a research report on Tuesday, June 3rd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Mastercard in a report on Thursday, July 17th. They issued a "buy" rating and a $650.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, Mastercard presently has a consensus rating of "Buy" and a consensus price target of $630.89.

Mastercard Stock Performance

Mastercard stock traded up $0.94 during midday trading on Monday, reaching $585.10. 1,661,705 shares of the company traded hands, compared to its average volume of 2,778,760. The firm has a market capitalization of $528.94 billion, a price-to-earnings ratio of 39.45, a price-to-earnings-growth ratio of 2.39 and a beta of 0.99. The business has a 50 day moving average of $577.23 and a two-hundred day moving average of $559.16. Mastercard Incorporated has a 12 month low of $465.59 and a 12 month high of $601.77. 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 (NYSE:MA - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The credit services provider reported $4.15 earnings per share 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 company had revenue of $8.13 billion for the quarter, compared to the consensus estimate of $7.95 billion. During the same quarter in the prior year, the firm earned $3.50 earnings per share. The firm's revenue for the quarter was up 16.8% compared to the same quarter last year. As a group, research analysts predict that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Announces Dividend

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

Insider Activity

In other Mastercard news, insider Raj Seshadri sold 1,100 shares of Mastercard stock in a transaction on Friday, June 27th. The shares were sold at an average price of $546.77, for a total value of $601,447.00. Following the completion of the transaction, the insider directly owned 12,921 shares of the company's stock, valued at $7,064,815.17. This trade represents a 7.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Linda Pistecchia Kirkpatrick sold 958 shares of Mastercard stock in a transaction on Monday, June 30th. The stock was sold at an average price of $560.00, for a total transaction of $536,480.00. Following the completion of the transaction, the insider directly owned 23,624 shares of the company's stock, valued at $13,229,440. The trade was a 3.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,717 shares of company stock valued at $22,684,831. 0.09% of the stock is currently owned by company insiders.

About Mastercard

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.