Sheets Smith Wealth Management Purchases 947 Shares of Mastercard Incorporated $MA

Key Points

• Sheets Smith Wealth Management has increased its holdings in Mastercard by 41.3%, acquiring 947 additional shares, totalling 3,238 shares valued at approximately $1.82 million.
• Mastercard reported a quarterly EPS of $4.15, beating estimates by $0.10, with revenue growth of 16.8% year-over-year to $8.13 billion.
• The company announced a quarterly dividend of $0.76 per share, resulting in an annualized yield of 0.5%, with a dividend payout ratio of 20.50%.

Sheets Smith Wealth Management lifted its position in Mastercard Incorporated (NYSE:MA - Free Report) by 41.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,238 shares of the credit services provider's stock after buying an additional 947 shares during the period. Sheets Smith Wealth Management's holdings in Mastercard were worth $1,820,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Family Legacy Financial Solutions LLC acquired a new stake in Mastercard in the second quarter worth about $26,000. Flaharty Asset Management LLC acquired a new stake in shares of Mastercard during the first quarter worth about $27,000. Keystone Global Partners LLC purchased a new stake in Mastercard in the first quarter valued at approximately $31,000. Hughes Financial Services LLC acquired a new position in Mastercard in the 1st quarter worth approximately $34,000. Finally, 1 North Wealth Services LLC purchased a new position in Mastercard during the 1st quarter worth approximately $44,000. Hedge funds and other institutional investors own 97.28% of the company's stock.

Mastercard Stock Performance

NYSE MA opened at $569.51 on Wednesday. The stock has a market capitalization of $514.84 billion, a price-to-earnings ratio of 38.40, a PEG ratio of 2.40 and a beta of 0.99. The stock has a 50-day moving average of $578.24 and a 200 day moving average of $559.49. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 2.41. Mastercard Incorporated has a twelve month low of $465.59 and a twelve month high of $601.77.

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

Mastercard Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Thursday, October 9th will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, October 9th. Mastercard's dividend payout ratio (DPR) is presently 20.50%.

Wall Street Analysts Forecast Growth

MA has been the topic of a number of research reports. The Goldman Sachs Group reiterated a "buy" rating on shares of Mastercard in a research note on Friday, August 1st. Royal Bank Of Canada lifted their price objective on Mastercard from $650.00 to $656.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Morgan Stanley upped their target price on Mastercard from $639.00 to $661.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. KeyCorp lifted their price target on Mastercard from $635.00 to $660.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, Truist Financial lowered their price objective on Mastercard from $640.00 to $612.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Mastercard currently has a consensus rating of "Buy" and an average target price of $630.89.

Insider Activity at Mastercard

In related news, insider Raj Seshadri sold 1,100 shares of the firm's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $546.77, for a total value of $601,447.00. Following the transaction, the insider directly owned 12,921 shares of the company's stock, valued at approximately $7,064,815.17. This trade represents a 7.85% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Linda Pistecchia Kirkpatrick sold 958 shares of the business's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $560.00, for a total value of $536,480.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,449 shares of company stock worth $21,974,441 in the last ninety days. 0.09% of the stock is owned by company insiders.

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.

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