Simplicity Wealth LLC Boosts Stock Position in Mastercard Incorporated $MA

Key Points

• Simplicity Wealth LLC increased its stake in Mastercard by 110.6% during the 2nd quarter, holding 12,645 shares valued at approximately $7.1 million.
• Mastercard reported Q2 earnings of $4.15 per share, exceeding expectations, with a revenue of $8.13 billion—a 16.8% increase year-over-year.
• The company announced a quarterly dividend of $0.76 per share to be paid on November 7th, representing an annualized yield of 0.5%.

Simplicity Wealth LLC lifted its position in Mastercard Incorporated (NYSE:MA - Free Report) by 110.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,645 shares of the credit services provider's stock after buying an additional 6,641 shares during the quarter. Simplicity Wealth LLC's holdings in Mastercard were worth $7,106,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Brown Miller Wealth Management LLC raised its holdings in shares of Mastercard by 13.4% in the 2nd quarter. Brown Miller Wealth Management LLC now owns 3,968 shares of the credit services provider's stock valued at $2,230,000 after buying an additional 470 shares during the period. OLD National Bancorp IN raised its holdings in shares of Mastercard by 77.9% in the 2nd quarter. OLD National Bancorp IN now owns 19,340 shares of the credit services provider's stock valued at $10,868,000 after buying an additional 8,471 shares during the period. Highland Capital Management LLC raised its holdings in shares of Mastercard by 132.3% in the 2nd quarter. Highland Capital Management LLC now owns 10,537 shares of the credit services provider's stock valued at $5,921,000 after buying an additional 6,001 shares during the period. Carolina Wealth Advisors LLC raised its holdings in shares of Mastercard by 31.8% in the 2nd quarter. Carolina Wealth Advisors LLC now owns 2,198 shares of the credit services provider's stock valued at $1,235,000 after buying an additional 530 shares during the period. Finally, MBL Wealth LLC raised its holdings in shares of Mastercard by 4.3% in the 2nd quarter. MBL Wealth LLC now owns 1,367 shares of the credit services provider's stock valued at $768,000 after buying an additional 56 shares during the period. Hedge funds and other institutional investors own 97.28% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. The Goldman Sachs Group reiterated a "buy" rating on shares of Mastercard in a report on Friday, August 1st. Royal Bank Of Canada boosted their target price on Mastercard from $650.00 to $656.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Truist Financial lowered their target price on Mastercard from $640.00 to $612.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. KeyCorp boosted their target price on Mastercard from $635.00 to $660.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Finally, Seaport Res Ptn raised Mastercard from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 14th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Mastercard presently has a consensus rating of "Buy" and an average target price of $630.89.

Mastercard Trading Up 0.6%

NYSE:MA opened at $581.08 on Friday. The stock has a 50-day simple moving average of $580.26 and a 200-day simple moving average of $561.85. The stock has a market cap of $525.30 billion, a P/E ratio of 39.18, a P/E/G ratio of 2.38 and a beta of 0.97. Mastercard Incorporated has a 1 year low of $465.59 and a 1 year high of $601.77. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.16 and a current ratio of 1.16.

Mastercard (NYSE:MA - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The credit services provider reported $4.15 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarterly revenue was up 16.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.50 EPS. As a group, analysts anticipate that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Announces Dividend

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

Insider Activity

In other news, CFO J. Mehra Sachin sold 17,816 shares of the company's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $586.89, for a total transaction of $10,456,032.24. Following the completion of the transaction, the chief financial officer directly owned 31,234 shares of the company's stock, valued at approximately $18,330,922.26. This represents a 36.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Julius Genachowski sold 312 shares of the company's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $570.67, for a total value of $178,049.04. Following the completion of the sale, the director directly owned 8,469 shares of the company's stock, valued at approximately $4,833,004.23. This trade represents a 3.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,391 shares of company stock valued at $20,836,514. Insiders own 0.09% of the company's stock.

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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