Pointe Capital Management LLC Buys Shares of 2,669 Mastercard Incorporated $MA

Key Points

• Pointe Capital Management acquired 2,669 Mastercard shares worth approximately $1.37 million, while institutional investors collectively own 97.28% of the company.
• Mastercard insiders sold 71,357 shares valued at roughly $40.6 million over the past three months, including sales by CEO Michael Miebach and insider Raj Seshadri under pre-arranged trading plans.
• Analysts maintain a favorable outlook, with an average “Buy” rating and a $664.71 price target. Mastercard also exceeded quarterly earnings and revenue estimates, reporting $5.04 EPS and $9.28 billion in revenue, up 14.1% year over year.

Pointe Capital Management LLC bought a new position in Mastercard Incorporated (NYSE:MA - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,669 shares of the credit services provider's stock, valued at approximately $1,371,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Riggs Asset Managment Co. Inc. grew its stake in shares of Mastercard by 20.0% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 108 shares of the credit services provider's stock valued at $61,000 after buying an additional 18 shares in the last quarter. Castle Rock Wealth Management LLC raised its position in Mastercard by 2.8% during the fourth quarter. Castle Rock Wealth Management LLC now owns 695 shares of the credit services provider's stock valued at $387,000 after acquiring an additional 19 shares in the last quarter. Athena Wealth Management LLC raised its position in Mastercard by 3.8% during the second quarter. Athena Wealth Management LLC now owns 514 shares of the credit services provider's stock valued at $264,000 after acquiring an additional 19 shares in the last quarter. Novem Group lifted its stake in Mastercard by 0.4% in the second quarter. Novem Group now owns 4,680 shares of the credit services provider's stock valued at $2,404,000 after acquiring an additional 19 shares during the last quarter. Finally, Vista Capital Partners Inc. grew its position in Mastercard by 4.5% in the second quarter. Vista Capital Partners Inc. now owns 444 shares of the credit services provider's stock worth $228,000 after acquiring an additional 19 shares in the last quarter. 97.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Mastercard

In related news, insider Raj Seshadri sold 1,977 shares of the business's stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $529.73, for a total transaction of $1,047,276.21. Following the completion of the transaction, the insider owned 16,429 shares of the company's stock, valued at approximately $8,702,934.17. The trade was a 10.74% decrease in their position. The transaction was disclosed in a document filed 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, CEO Michael Miebach sold 15,372 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $575.00, for a total value of $8,838,900.00. Following the sale, the chief executive officer owned 93,693 shares of the company's stock, valued at approximately $53,873,475. The trade was a 14.09% 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. Over the last three months, insiders sold 71,357 shares of company stock valued at $40,637,262. 0.09% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Royal Bank Of Canada increased their price target on shares of Mastercard from $629.00 to $642.00 and gave the stock an "outperform" rating in a research note on Friday, July 31st. Loop Capital reaffirmed a "buy" rating and issued a $631.00 price objective on shares of Mastercard in a research note on Wednesday, June 3rd. Keefe, Bruyette & Woods upped their price objective on shares of Mastercard from $665.00 to $685.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Morgan Stanley increased their target price on shares of Mastercard from $679.00 to $681.00 and gave the stock an "overweight" rating in a research report on Friday, July 31st. Finally, Dbs Bank upgraded Mastercard to a "moderate buy" rating in a report on Friday, August 21st. Five analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $664.71.

Mastercard Trading Down 0.2%

NYSE:MA opened at $598.35 on Thursday. The company's 50 day moving average is $545.04 and its 200-day moving average is $518.79. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 3.96. Mastercard Incorporated has a 12 month low of $464.52 and a 12 month high of $601.62. The firm has a market cap of $524.16 billion, a price-to-earnings ratio of 32.91, a P/E/G ratio of 1.80 and a beta of 0.72.

Mastercard (NYSE:MA - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The credit services provider reported $5.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.77 by $0.27. Mastercard had a net margin of 46.34% and a return on equity of 239.99%. The business had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.08 billion. During the same period in the prior year, the firm earned $4.15 EPS. Mastercard's quarterly revenue was up 14.1% compared to the same quarter last year. Equities analysts anticipate that Mastercard Incorporated will post 19.86 EPS for the current year.

Mastercard Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Thursday, July 9th were issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Thursday, July 9th. Mastercard's dividend payout ratio is 19.14%.

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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