Vestcor Inc Acquires 5,967 Shares of Mastercard Incorporated (NYSE:MA)

Key Points

• Vestcor Inc increased its stake in Mastercard by 19.5% during the first quarter, acquiring 5,967 additional shares, bringing their total holdings to 36,597 shares valued at approximately $20 million.
• Mastercard has a consensus rating of "Moderate Buy" from analysts, with 25 analysts rating it as a buy and an average price target of $612.90.
• The company recently announced a quarterly dividend of $0.76 to be paid on August 8th, with an annualized yield of 0.54% and a payout ratio of 21.32%.

Vestcor Inc increased its stake in Mastercard Incorporated (NYSE:MA - Free Report) by 19.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 36,597 shares of the credit services provider's stock after acquiring an additional 5,967 shares during the quarter. Mastercard makes up about 0.7% of Vestcor Inc's portfolio, making the stock its 29th biggest holding. Vestcor Inc's holdings in Mastercard were worth $20,060,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the stock. Accredited Investors Inc. raised its position in shares of Mastercard by 2.6% during the first quarter. Accredited Investors Inc. now owns 718 shares of the credit services provider's stock worth $394,000 after purchasing an additional 18 shares during the period. Wealthstream Advisors Inc. increased its stake in Mastercard by 2.9% in the 1st quarter. Wealthstream Advisors Inc. now owns 632 shares of the credit services provider's stock worth $347,000 after purchasing an additional 18 shares in the last quarter. Phillips Wealth Planners LLC raised its holdings in Mastercard by 1.8% during the 1st quarter. Phillips Wealth Planners LLC now owns 1,055 shares of the credit services provider's stock worth $538,000 after buying an additional 19 shares during the period. Alta Wealth Advisors LLC lifted its stake in Mastercard by 3.6% during the first quarter. Alta Wealth Advisors LLC now owns 540 shares of the credit services provider's stock valued at $296,000 after buying an additional 19 shares in the last quarter. Finally, May Hill Capital LLC boosted its holdings in shares of Mastercard by 2.0% in the first quarter. May Hill Capital LLC now owns 986 shares of the credit services provider's stock worth $540,000 after buying an additional 19 shares during the period. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Mastercard Stock Performance

MA stock traded down $6.74 during mid-day trading on Friday, reaching $559.73. 3,316,713 shares of the stock traded hands, compared to its average volume of 2,427,760. The firm has a market capitalization of $510.31 billion, a PE ratio of 37.74, a P/E/G ratio of 2.43 and a beta of 1.03. The business has a 50-day moving average of $564.58 and a two-hundred day moving average of $551.95. Mastercard Incorporated has a 52 week low of $439.59 and a 52 week high of $594.71. The company has a quick ratio of 1.11, a current ratio of 1.16 and a debt-to-equity ratio of 2.41.

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

Mastercard Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Wednesday, July 9th will be issued a $0.76 dividend. The ex-dividend date of this dividend is Wednesday, July 9th. This represents a $3.04 dividend on an annualized basis and a yield of 0.5%. Mastercard's dividend payout ratio is 21.32%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MA. Royal Bank Of Canada raised their price objective on shares of Mastercard from $650.00 to $656.00 and gave the stock an "outperform" rating in a research note on Friday. KeyCorp lifted their price target on Mastercard from $635.00 to $660.00 and gave the company an "overweight" rating in a report on Friday. Morgan Stanley upped their price target on Mastercard from $639.00 to $661.00 and gave the company an "overweight" rating in a research report on Friday. Monness Crespi & Hardt lowered Mastercard from a "buy" rating to a "neutral" rating in a research report on Wednesday, April 9th. Finally, Wolfe Research set a $655.00 target price on Mastercard in a research note on Monday, June 23rd. Five research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $615.33.

Insider Activity at Mastercard

In related news, insider Linda Pistecchia Kirkpatrick sold 958 shares of the stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $560.00, for a total value of $536,480.00. Following the completion of the sale, the insider owned 23,624 shares in the company, valued at approximately $13,229,440. This trade represents a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Craig Vosburg sold 9,428 shares of the business's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $353.05, for a total value of $3,328,555.40. Following the transaction, the insider owned 58,451 shares in the company, valued at $20,636,125.55. This represents a 13.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,753 shares of company stock valued at $20,351,084 in the last quarter. Company insiders own 0.09% of the company's stock.

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.