Trust Point Inc. Grows Holdings in Mastercard Incorporated $MA

Key Points

• Trust Point Inc. increased its stake in Mastercard by 19.4% in Q2, now owning 5,766 shares valued at approximately $3.24 million.
• Insider Raj Seshadri sold 1,100 shares of Mastercard for a total of $601,447, reducing their position by 7.85%.
• Mastercard announced a quarterly dividend of $0.76, with a yield of 0.5%, set to be paid on November 7th to stockholders of record.

Trust Point Inc. grew its stake in Mastercard Incorporated (NYSE:MA - Free Report) by 19.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,766 shares of the credit services provider's stock after buying an additional 937 shares during the period. Trust Point Inc.'s holdings in Mastercard were worth $3,240,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MA. Family Legacy Financial Solutions LLC purchased a new position in Mastercard in the 2nd quarter worth approximately $26,000. Flaharty Asset Management LLC purchased a new position in Mastercard in the 1st quarter worth approximately $27,000. Keystone Global Partners LLC purchased a new position in Mastercard in the 1st quarter worth approximately $31,000. 10Elms LLP purchased a new position in Mastercard in the 4th quarter worth approximately $33,000. Finally, Hughes Financial Services LLC purchased a new position in Mastercard in the 1st quarter worth approximately $34,000. Hedge funds and other institutional investors own 97.28% of the company's stock.

Insider Activity at Mastercard

In other 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 completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Linda Pistecchia Kirkpatrick sold 958 shares of the firm's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $560.00, for a total transaction of $536,480.00. Following the completion of the sale, the insider directly owned 23,624 shares of the company's stock, valued at approximately $13,229,440. This represents a 3.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,717 shares of company stock valued at $22,684,831. 0.09% of the stock is currently owned by company insiders.

Mastercard Trading Down 2.0%

Shares of MA opened at $586.39 on Friday. The stock has a market capitalization of $530.11 billion, a P/E ratio of 39.54, a PEG ratio of 2.45 and a beta of 0.99. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 2.41. The firm has a fifty day simple moving average of $576.55 and a two-hundred day simple moving average of $558.89. 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 announced its quarterly earnings results on Thursday, July 31st. The credit services provider reported $4.15 earnings per share for the quarter, beating 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 net margin of 44.93% and a return on equity of 200.01%. The firm's revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.50 EPS. On average, research analysts anticipate that Mastercard Incorporated will post 15.91 EPS for the current year.

Mastercard Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Thursday, October 9th will be given a $0.76 dividend. 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 (DPR) is currently 20.50%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MA. Deutsche Bank Aktiengesellschaft began coverage on shares of Mastercard in a research note on Thursday, July 17th. They issued a "buy" rating and a $650.00 price objective for the company. TD Cowen reaffirmed a "buy" rating and issued a $645.00 price objective on shares of Mastercard in a research note on Monday, August 11th. Morgan Stanley upped their price objective on shares of Mastercard from $639.00 to $661.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Truist Financial cut their price objective on shares of Mastercard from $640.00 to $612.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. Finally, Wall Street Zen raised shares of Mastercard from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Two equities 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, the company presently has an average rating of "Buy" and an average target price of $630.89.

Mastercard 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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