Meeder Asset Management Inc. Has $39.11 Million Stock Holdings in Mastercard Incorporated (NYSE:MA)

Key Points

• Meeder Asset Management Inc. increased its stake in Mastercard Incorporated by 1.1%, acquiring an additional 755 shares during the first quarter, bringing its total holdings to 71,346 shares valued at approximately $39.1 million.
• Mastercard reported a quarterly earnings of $3.73 per share, exceeding expectations by $0.16, while revenue rose 14.2% year-over-year to $7.25 billion.
• The company recently announced a quarterly dividend of $0.76 per share, with the dividend set to be paid on August 8th, representing a yield of 0.53%.

Meeder Asset Management Inc. lifted its holdings in shares of Mastercard Incorporated (NYSE:MA - Free Report) by 1.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,346 shares of the credit services provider's stock after buying an additional 755 shares during the period. Mastercard makes up about 2.6% of Meeder Asset Management Inc.'s investment portfolio, making the stock its 11th largest holding. Meeder Asset Management Inc.'s holdings in Mastercard were worth $39,106,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Measured Risk Portfolios Inc. acquired a new position in shares of Mastercard in the fourth quarter worth $31,000. Navigoe LLC acquired a new stake in shares of Mastercard in the fourth quarter valued at about $33,000. 10Elms LLP acquired a new stake in shares of Mastercard in the fourth quarter valued at about $33,000. Hughes Financial Services LLC acquired a new stake in shares of Mastercard in the first quarter valued at about $34,000. Finally, Mpwm Advisory Solutions LLC acquired a new stake in shares of Mastercard in the fourth quarter valued at about $36,000. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Mastercard Stock Down 1.4%

MA traded down $7.87 during trading on Friday, hitting $558.60. The company had a trading volume of 1,767,461 shares, compared to its average volume of 2,822,354. The firm's 50-day moving average price is $564.67 and its 200 day moving average price is $551.39. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.81. Mastercard Incorporated has a one year low of $439.59 and a one year high of $594.71. The company has a market capitalization of $509.28 billion, a PE ratio of 39.17, a PEG ratio of 2.42 and a beta of 1.02.

Mastercard (NYSE:MA - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The credit services provider reported $4.15 EPS for the quarter, topping the consensus estimate of $4.05 by $0.10. Mastercard had a net margin of 45.21% and a return on equity of 196.87%. The firm had revenue of $8.13 billion for the quarter, compared to analysts' expectations of $7.95 billion. During the same period in the previous year, the firm posted $3.50 EPS. The company's revenue for the quarter was up 16.8% on a year-over-year basis. As a group, equities analysts expect that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Wednesday, July 9th will be issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, July 9th. Mastercard's dividend payout ratio is presently 21.32%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MA shares. Wolfe Research set a $655.00 target price on Mastercard in a research report on Monday, June 23rd. Truist Financial cut their target price on shares of Mastercard from $640.00 to $612.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. Deutsche Bank Aktiengesellschaft started coverage on shares of Mastercard in a research note on Thursday, July 17th. They issued a "buy" rating and a $650.00 target price for the company. Wells Fargo & Company raised their price target on shares of Mastercard from $625.00 to $650.00 and gave the company an "overweight" rating in a report on Friday. Finally, Royal Bank Of Canada raised their price target on shares of Mastercard from $650.00 to $656.00 and gave the company an "outperform" rating in a report on Friday. Five research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Mastercard presently has a consensus rating of "Moderate Buy" and a consensus target price of $615.33.

Insider Activity

In other Mastercard news, insider Raj Seshadri sold 1,100 shares of the stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $546.77, for a total transaction of $601,447.00. Following the transaction, the insider owned 12,921 shares in the company, valued at $7,064,815.17. This represents a 7.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Linda Pistecchia Kirkpatrick sold 958 shares of the stock in a transaction that occurred 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 transaction, the insider owned 23,624 shares in the company, valued at approximately $13,229,440. The trade was a 3.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,753 shares of company stock valued at $20,351,084 in the last 90 days. 0.09% of the stock is 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.