Mastercard Incorporated (NYSE:MA) Shares Acquired by Assetmark Inc.

Key Points

• Assetmark Inc. increased its stake in Mastercard by 1.8%, acquiring an additional 2,928 shares, bringing its total holdings to 168,329 shares valued at approximately $92.26 million.
• Mastercard reported a quarterly earnings per share (EPS) of $3.73, exceeding estimates of $3.57, with revenue reaching $7.25 billion, a year-over-year increase of 14.2%.
• The company declared a quarterly dividend of $0.76 per share, which will be paid on August 8th, representing an annualized yield of 0.54%.

Assetmark Inc. raised its holdings in Mastercard Incorporated (NYSE:MA - Free Report) by 1.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 168,329 shares of the credit services provider's stock after purchasing an additional 2,928 shares during the quarter. Assetmark Inc.'s holdings in Mastercard were worth $92,264,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Elefante Mark B raised its holdings in shares of Mastercard by 25.4% in the 1st quarter. Elefante Mark B now owns 12,164 shares of the credit services provider's stock valued at $6,667,000 after buying an additional 2,461 shares during the period. Cetera Investment Advisers raised its holdings in shares of Mastercard by 9.1% in the 1st quarter. Cetera Investment Advisers now owns 239,139 shares of the credit services provider's stock valued at $131,077,000 after buying an additional 19,890 shares during the period. Avantax Advisory Services Inc. raised its holdings in shares of Mastercard by 9.1% in the 1st quarter. Avantax Advisory Services Inc. now owns 48,474 shares of the credit services provider's stock valued at $26,570,000 after buying an additional 4,037 shares during the period. Hamilton Point Investment Advisors LLC raised its holdings in shares of Mastercard by 7.4% in the 1st quarter. Hamilton Point Investment Advisors LLC now owns 493 shares of the credit services provider's stock valued at $270,000 after buying an additional 34 shares during the period. Finally, Brookwood Investment Group LLC purchased a new stake in shares of Mastercard in the 1st quarter valued at $1,320,000. Hedge funds and other institutional investors own 97.28% of the company's stock.

Mastercard Trading Up 0.8%

NYSE:MA traded up $4.68 on Friday, hitting $568.18. 1,513,080 shares of the stock were exchanged, compared to its average volume of 2,575,199. The stock has a market cap of $518.02 billion, a PE ratio of 39.84, a PEG ratio of 2.44 and a beta of 1.02. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.81. The stock has a fifty day moving average of $565.61 and a 200-day moving average of $549.91. Mastercard Incorporated has a fifty-two week low of $432.11 and a fifty-two week high of $594.71.

Mastercard (NYSE:MA - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The credit services provider reported $3.73 EPS for the quarter, topping the consensus estimate of $3.57 by $0.16. The company had revenue of $7.25 billion during the quarter, compared to analyst estimates of $7.12 billion. Mastercard had a return on equity of 196.87% and a net margin of 45.21%. The firm's revenue was up 14.2% on a year-over-year basis. During the same period in the prior year, the firm posted $3.31 earnings per share. As a group, equities analysts expect that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Wednesday, July 9th will be paid a dividend of $0.76 per share. The ex-dividend date of this dividend is Wednesday, July 9th. This represents a $3.04 annualized dividend and a yield of 0.54%. Mastercard's dividend payout ratio is presently 21.32%.

Insider Transactions at Mastercard

In other news, insider Raj Seshadri sold 1,100 shares of the stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $546.77, for a total value of $601,447.00. Following the completion of the sale, the insider owned 12,921 shares in the company, valued at approximately $7,064,815.17. This trade represents a 7.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Linda Pistecchia Kirkpatrick sold 958 shares of the stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $560.00, for a total value of $536,480.00. Following the completion of the sale, the insider owned 23,624 shares of the company's stock, valued at approximately $13,229,440. This trade represents a 3.90% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,753 shares of company stock valued at $20,351,084. Insiders own 0.09% of the company's stock.

Wall Street Analyst Weigh In

MA has been the topic of several research analyst reports. Citigroup boosted their price objective on Mastercard from $650.00 to $652.00 and gave the company a "buy" rating in a report on Monday, May 5th. Evercore ISI assumed coverage on Mastercard in a research note on Wednesday, April 9th. They set an "in-line" rating and a $550.00 target price for the company. Monness Crespi & Hardt cut Mastercard from a "buy" rating to a "neutral" rating in a research note on Wednesday, April 9th. Wall Street Zen raised Mastercard from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Finally, UBS Group boosted their target price on Mastercard from $660.00 to $670.00 and gave the stock a "buy" rating in a research note on Tuesday, June 3rd. Five analysts have rated the stock with a hold rating, twenty-five have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $612.90.

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.