Riverpark Capital Management LLC Sells 557 Shares of Mastercard Incorporated (NYSE:MA)

Key Points

• Riverpark Capital Management LLC reduced its stake in Mastercard by 17.3% in Q1, now holding 2,668 shares worth approximately $1.46 million, making it the firm's 15th largest position.
• Insider Craig Vosburg sold 14,051 shares of Mastercard for over $8.2 million, representing a 19.38% decrease in his ownership, alongside another insider sale that saw Raj Seshadri reduce his position by 7.85%.
• Mastercard recently reported quarterly earnings of $4.15 per share, beating analysts' estimates, with a year-over-year revenue increase of 16.8% to $8.13 billion.

Riverpark Capital Management LLC lowered its holdings in shares of Mastercard Incorporated (NYSE:MA - Free Report) by 17.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 2,668 shares of the credit services provider's stock after selling 557 shares during the period. Mastercard accounts for approximately 2.7% of Riverpark Capital Management LLC's holdings, making the stock its 15th largest position. Riverpark Capital Management LLC's holdings in Mastercard were worth $1,462,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of MA. Measured Risk Portfolios Inc. acquired a new stake in Mastercard during the fourth quarter worth approximately $31,000. Navigoe LLC acquired a new stake in Mastercard during the fourth quarter worth approximately $33,000. 10Elms LLP acquired a new stake in Mastercard during the fourth quarter worth approximately $33,000. Hughes Financial Services LLC acquired a new stake in Mastercard during the first quarter worth approximately $34,000. Finally, Mpwm Advisory Solutions LLC acquired a new stake in Mastercard during the fourth quarter worth approximately $36,000. Institutional investors own 97.28% of the company's stock.

Mastercard Price Performance

Shares of NYSE MA traded up $0.29 during midday trading on Tuesday, reaching $573.88. 2,593,766 shares of the company were exchanged, compared to its average volume of 2,825,981. The stock's 50-day moving average price is $563.76 and its 200-day moving average price is $553.84. The stock has a market cap of $518.80 billion, a P/E ratio of 38.70, a PEG ratio of 2.36 and a beta of 1.03. Mastercard Incorporated has a one year low of $454.89 and a one year high of $594.71. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 2.41.

Mastercard (NYSE:MA - Get Free Report) last posted its earnings results on Thursday, July 31st. The credit services provider reported $4.15 earnings per share for the quarter, topping analysts' consensus estimates of $4.05 by $0.10. The firm had revenue of $8.13 billion for the quarter, compared to analysts' expectations of $7.95 billion. Mastercard had a net margin of 44.93% and a return on equity of 200.01%. The company's revenue was up 16.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.50 earnings per share. On average, sell-side analysts anticipate that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Wednesday, July 9th were paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Wednesday, July 9th. Mastercard's payout ratio is presently 20.50%.

Insider Activity at Mastercard

In related news, insider Raj Seshadri sold 1,100 shares of the business's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $546.77, for a total value of $601,447.00. Following the sale, the insider owned 12,921 shares of the company's stock, valued at $7,064,815.17. The trade was a 7.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Julius Genachowski sold 312 shares of the business's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $570.67, for a total transaction of $178,049.04. Following the completion of the sale, the director directly owned 8,469 shares in the company, valued at approximately $4,833,004.23. This represents a 3.55% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,453 shares of company stock worth $20,178,667. Corporate insiders own 0.09% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. UBS Group raised 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 dropped their price target on shares of Mastercard from $640.00 to $612.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. The Goldman Sachs Group reiterated a "buy" rating on shares of Mastercard in a research report on Friday, August 1st. Morgan Stanley lifted their price target on shares of Mastercard from $639.00 to $661.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, KeyCorp lifted their price target on shares of Mastercard from $635.00 to $660.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Five equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Mastercard presently has a consensus rating of "Moderate Buy" and an average target price of $615.33.

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.