Mastercard Incorporated $MA Shares Purchased by Waycross Partners LLC

Key Points

• Waycross Partners increased its Mastercard stake by 6.7% in the third quarter, adding 4,865 shares to hold 77,464 shares valued at about $42.7 million.
• Mastercard beat quarterly earnings and revenue estimates, reporting EPS of $5.31 and revenue of $9.81 billion, up 14% year over year.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $704.62; the company also declared a quarterly dividend of $0.87 per share.

Waycross Partners LLC raised its stake in Mastercard Incorporated (NYSE:MA - Free Report) by 6.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 77,464 shares of the credit services provider's stock after buying an additional 4,865 shares during the period. Mastercard comprises about 3.3% of Waycross Partners LLC's investment portfolio, making the stock its 9th biggest position. Waycross Partners LLC's holdings in Mastercard were worth $42,719,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Ashton Thomas Private Wealth LLC boosted its stake in shares of Mastercard by 0.7% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 10,878 shares of the credit services provider's stock valued at $5,999,000 after purchasing an additional 80 shares in the last quarter. Palatine Hill Wealth Management LLC raised its position in Mastercard by 2.6% in the 3rd quarter. Palatine Hill Wealth Management LLC now owns 828 shares of the credit services provider's stock worth $457,000 after purchasing an additional 21 shares during the period. Providence First Trust Co raised its position in Mastercard by 289.0% in the 3rd quarter. Providence First Trust Co now owns 1,762 shares of the credit services provider's stock worth $972,000 after purchasing an additional 1,309 shares during the period. Canvas Wealth Advisors LLC lifted its stake in Mastercard by 1.6% in the third quarter. Canvas Wealth Advisors LLC now owns 1,659 shares of the credit services provider's stock worth $915,000 after purchasing an additional 26 shares during the last quarter. Finally, Asset One Wealth Management LLC lifted its stake in Mastercard by 4.0% in the third quarter. Asset One Wealth Management LLC now owns 4,051 shares of the credit services provider's stock worth $2,234,000 after purchasing an additional 156 shares during the last quarter. Hedge funds and other institutional investors own 97.28% of the company's stock.

Mastercard Trading Down 0.4%

Shares of MA stock traded down $2.47 during mid-day trading on Friday, reaching $653.45. The stock had a trading volume of 3,293,628 shares, compared to its average volume of 3,281,489. The firm has a market capitalization of $572.43 billion, a PE ratio of 34.18, a price-to-earnings-growth ratio of 1.86 and a beta of 0.78. The stock's 50-day moving average price is $593.15 and its two-hundred day moving average price is $539.12. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 3.29. Mastercard Incorporated has a 52-week low of $464.52 and a 52-week high of $681.99.

Mastercard (NYSE:MA - Get Free Report) last posted its earnings results on Thursday, October 29th. The credit services provider reported $5.31 earnings per share for the quarter, topping analysts' consensus estimates of $5.17 by $0.14. The company had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.66 billion. Mastercard had a net margin of 46.73% and a return on equity of 260.86%. Mastercard's revenue for the quarter was up 14.0% on a year-over-year basis. During the same period in the prior year, the business posted $4.38 earnings per share. Equities analysts expect that Mastercard Incorporated will post 20.00 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Friday, October 9th will be given a dividend of $0.87 per share. The ex-dividend date of this dividend is Friday, October 9th. This represents a $3.48 dividend on an annualized basis and a yield of 0.5%. Mastercard's dividend payout ratio is presently 18.20%.

Key Headlines Impacting Mastercard

Here are the key news stories impacting Mastercard this week:

• Positive Sentiment: Q3 results beat expectations: revenue rose 14% year over year to $9.81 billion and adjusted EPS increased 21.2%. Services revenue grew 19%, although higher incentives were flagged as a concern. Mastercard's 19% Services Growth Steals the Q3 Show: Buy or Hold MA?
• Positive Sentiment: Truist raised its price target to $735 and maintained a Buy rating, signaling potential upside in its view. Truist Financial rating information
• Negative Sentiment: Freedom Broker downgraded MA from Buy to Hold, despite lifting its target to $725. The mixed call may temper enthusiasm after the stock’s recent rally. Freedom Broker rating information
• Negative Sentiment: Valuation is a key risk: coverage notes the recent rally has outpaced changes in earnings estimates, leaving less room for disappointment. Rising incentives could also weigh on margins. Mastercard Stock Rose 22% in a Month. Here’s What Its Price Now Assumes
• Negative Sentiment: Visa and Mastercard face additional collective claims in the UK over card fees, adding potential legal and financial uncertainty. Visa and Mastercard face additional £5bn collective claims over card fees
• Neutral Sentiment: The CFO sold about $2.77 million of MA shares. The sale may attract attention, but the report provides no context on its purpose. Mastercard CFO stock sale

Analyst Upgrades and Downgrades

Several research firms have issued reports on MA. The Goldman Sachs Group restated a "buy" rating and set a $701.00 price target (up from $674.00) on shares of Mastercard in a research report on Thursday, July 30th. Raymond James Financial reiterated an "outperform" rating and issued a $632.00 price objective (up from $609.00) on shares of Mastercard in a report on Friday, July 31st. Robert W. Baird boosted their target price on Mastercard from $660.00 to $710.00 and gave the company an "outperform" rating in a research note on Friday, October 9th. JPMorgan Chase & Co. boosted their target price on Mastercard from $720.00 to $755.00 and gave the company an "overweight" rating in a research note on Friday, October 30th. Finally, Keefe, Bruyette & Woods increased their target price on Mastercard from $685.00 to $750.00 and gave the company an "outperform" rating in a report on Friday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Mastercard presently has a consensus rating of "Moderate Buy" and a consensus price target of $704.62.

Insider Buying and Selling at Mastercard

In other news, CFO Ling Hai sold 4,318 shares of the business's stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $642.43, for a total transaction of $2,774,012.74. Following the transaction, the chief financial officer directly owned 35,750 shares of the company's stock, valued at approximately $22,966,872.50. The trade was a 10.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Julius Genachowski sold 371 shares of the company's stock in a transaction that occurred on Friday, October 9th. The shares were sold at an average price of $585.01, for a total value of $217,038.71. Following the transaction, the director owned 8,607 shares of the company's stock, valued at approximately $5,035,181.07. This represents a 4.13% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 25,403 shares of company stock valued at $15,428,736 in the last 90 days. 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, merchants, financial institutions, businesses and governments. Its network supports electronic payments, including transactions made with Mastercard-branded credit, debit and prepaid cards, as well as digital payment methods.

The company provides technology for authorizing, clearing and settling transactions. It also offers services related to cybersecurity, identity verification, data analytics, fraud prevention and payment consulting.

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