Rainey & Randall Wealth Advisors Inc. Purchases New Stake in Mastercard Incorporated (NYSE:MA)

Rainey & Randall Wealth Advisors Inc. purchased a new position in Mastercard Incorporated (NYSE:MA - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 574 shares of the credit services provider's stock, valued at approximately $315,000.

Other institutional investors also recently added to or reduced their stakes in the company. TruNorth Capital Management LLC purchased a new stake in shares of Mastercard during the 1st quarter worth approximately $104,000. Stephens Inc. AR lifted its position in shares of Mastercard by 0.7% during the 1st quarter. Stephens Inc. AR now owns 90,543 shares of the credit services provider's stock worth $49,628,000 after buying an additional 656 shares during the last quarter. BankPlus Trust Department lifted its position in shares of Mastercard by 15.1% during the 1st quarter. BankPlus Trust Department now owns 1,097 shares of the credit services provider's stock worth $601,000 after buying an additional 144 shares during the last quarter. Arizona State Retirement System lifted its position in shares of Mastercard by 0.3% during the 1st quarter. Arizona State Retirement System now owns 240,557 shares of the credit services provider's stock worth $131,854,000 after buying an additional 757 shares during the last quarter. Finally, Kathmere Capital Management LLC lifted its position in shares of Mastercard by 13.3% during the 1st quarter. Kathmere Capital Management LLC now owns 1,981 shares of the credit services provider's stock worth $1,086,000 after buying an additional 232 shares during the last quarter. Hedge funds and other institutional investors own 97.28% of the company's stock.

Insider Activity

In other news, insider Raj Seshadri sold 1,100 shares of the stock in a transaction dated 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 directly 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 legal filing with the SEC, which is available at this link. Also, Director Julius Genachowski sold 312 shares of the stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $570.67, for a total transaction of $178,049.04. Following the transaction, the director owned 8,469 shares in the company, valued at approximately $4,833,004.23. The trade was a 3.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,753 shares of company stock valued at $20,351,084 over the last quarter. 0.09% of the stock is currently owned by company insiders.

Mastercard Price Performance

Shares of NYSE:MA traded up $4.87 on Monday, reaching $555.05. 954,443 shares of the company were exchanged, compared to its average volume of 2,660,456. The firm has a market cap of $506.04 billion, a price-to-earnings ratio of 39.00, a price-to-earnings-growth ratio of 2.39 and a beta of 1.02. Mastercard Incorporated has a 1-year low of $428.86 and a 1-year high of $594.71. The company has a 50-day moving average of $568.42 and a 200-day moving average of $547.84. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.81.

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

Mastercard Dividend Announcement

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 is Wednesday, July 9th. This represents a $3.04 annualized dividend and a dividend yield of 0.55%. Mastercard's dividend payout ratio is currently 21.32%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MA. UBS Group boosted their price objective on shares of Mastercard from $660.00 to $670.00 and gave the stock a "buy" rating in a research report on Tuesday, June 3rd. Truist Financial initiated coverage on shares of Mastercard in a research report on Monday, June 2nd. They issued a "buy" rating and a $640.00 price target for the company. Wall Street Zen downgraded shares of Mastercard from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. Wolfe Research set a $655.00 price target on shares of Mastercard in a research report on Monday, June 23rd. Finally, Evercore ISI initiated coverage on shares of Mastercard in a research report on Wednesday, April 9th. They issued an "in-line" rating and a $550.00 price target for the company. Seven analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Mastercard presently has a consensus rating of "Moderate Buy" and an average price target of $611.50.

Mastercard Company Profile

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.