Mastercard Incorporated (NYSE:MA) is SouthState Corp's 9th Largest Position

Key Points

• SouthState Corp increased its stake in Mastercard (NYSE: MA) by 20.5%, acquiring an additional 13,606 shares, bringing their total to 79,849 shares, valued at approximately $43.77 million.
• Mastercard reported a Q2 2023 EPS of $4.15, exceeding expectations, with revenue of $8.13 billion, reflecting a 16.8% increase year-over-year.
• Analysts maintain a moderate buy consensus rating for Mastercard, with target prices as high as $660.00 from firms like KeyCorp and Wells Fargo.

SouthState Corp increased its position in Mastercard Incorporated (NYSE:MA - Free Report) by 20.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,849 shares of the credit services provider's stock after buying an additional 13,606 shares during the period. Mastercard accounts for approximately 2.0% of SouthState Corp's investment portfolio, making the stock its 9th biggest holding. SouthState Corp's holdings in Mastercard were worth $43,767,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Whalerock Point Partners LLC boosted its stake in Mastercard by 1.3% during the 4th quarter. Whalerock Point Partners LLC now owns 14,678 shares of the credit services provider's stock valued at $7,729,000 after purchasing an additional 185 shares during the last quarter. Fortis Advisors LLC boosted its stake in Mastercard by 9.4% during the 1st quarter. Fortis Advisors LLC now owns 871 shares of the credit services provider's stock valued at $477,000 after purchasing an additional 75 shares during the last quarter. Canandaigua National Trust Co of Florida boosted its stake in Mastercard by 36.4% during the 1st quarter. Canandaigua National Trust Co of Florida now owns 693 shares of the credit services provider's stock valued at $380,000 after purchasing an additional 185 shares during the last quarter. Kingswood Wealth Advisors LLC lifted its position in shares of Mastercard by 18.0% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 6,870 shares of the credit services provider's stock worth $3,766,000 after buying an additional 1,047 shares in the last quarter. Finally, Baldwin Investment Management LLC lifted its position in shares of Mastercard by 5.7% during the 4th quarter. Baldwin Investment Management LLC now owns 1,731 shares of the credit services provider's stock worth $911,000 after buying an additional 93 shares in the last quarter. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Mastercard Price Performance

Shares of MA traded up $0.29 during mid-day trading on Tuesday, reaching $573.88. 2,593,766 shares of the stock traded hands, compared to its average volume of 2,583,637. The firm has a fifty day moving average price of $563.59 and a 200 day moving average price of $553.98. The company has a market cap of $518.80 billion, a price-to-earnings ratio of 38.70, a price-to-earnings-growth ratio of 2.36 and a beta of 1.03. 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 1 year low of $454.89 and a 1 year high of $594.71.

Mastercard (NYSE:MA - Get Free Report) last announced its earnings results 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. Mastercard had a net margin of 44.93% and a return on equity of 200.01%. The company had revenue of $8.13 billion during the quarter, compared to analyst estimates of $7.95 billion. During the same period in the previous year, the business earned $3.50 earnings per share. The firm's quarterly revenue was up 16.8% compared to the same quarter last year. As a group, equities research analysts predict that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Dividend Announcement

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

Insider Activity at Mastercard

In related news, Director Julius Genachowski sold 312 shares of the company's stock in a transaction on 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 transaction, the director directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Craig Vosburg sold 14,051 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $585.05, for a total transaction of $8,220,537.55. Following the completion of the transaction, the insider owned 58,451 shares of the company's stock, valued at $34,196,757.55. This trade represents a 19.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,453 shares of company stock valued at $20,178,667 over the last ninety days. 0.09% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have commented on MA. Citigroup lifted their target price on shares of Mastercard from $650.00 to $652.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Royal Bank Of Canada lifted their target price on shares of Mastercard from $650.00 to $656.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Wells Fargo & Company lifted their target price on shares of Mastercard from $625.00 to $650.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Morgan Stanley lifted their target price on shares of Mastercard from $639.00 to $661.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, Jefferies Financial Group reissued a "buy" rating on shares of Mastercard in a research report on Friday, June 6th. Five investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $615.33.

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.