Corbenic Partners LLC raised its holdings in Mastercard Incorporated (NYSE:MA) by 56.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 278 shares of the credit services provider’s stock after buying an additional 100 shares during the period. Corbenic Partners LLC’s holdings in Mastercard were worth $99,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. First Bank & Trust raised its holdings in Mastercard by 25.0% during the 1st quarter. First Bank & Trust now owns 4,560 shares of the credit services provider’s stock worth $1,624,000 after purchasing an additional 912 shares during the last quarter. FDx Advisors Inc. increased its holdings in Mastercard by 7.4% in the 1st quarter. FDx Advisors Inc. now owns 145,796 shares of the credit services provider’s stock worth $51,911,000 after acquiring an additional 10,010 shares during the last quarter. Nadler Financial Group Inc. purchased a new position in shares of Mastercard in the first quarter valued at $202,000. Centric Wealth Management increased its holdings in shares of Mastercard by 1.0% in the 1st quarter. Centric Wealth Management now owns 7,753 shares of the credit services provider’s stock worth $2,760,000 after buying an additional 77 shares during the last quarter. Finally, Scharf Investments LLC increased its stake in Mastercard by 72.4% in the 1st quarter. Scharf Investments LLC now owns 2,122 shares of the credit services provider’s stock worth $756,000 after purchasing an additional 891 shares during the period. Institutional investors own 73.64% of the company’s stock.
In other Mastercard news, insider Gilberto Caldart sold 7,528 shares of the company’s stock in a transaction on Thursday, February 4th. The stock was sold at an average price of $340.00, for a total value of $2,559,520.00. Following the transaction, the insider now owns 9,100 shares of the company’s stock, valued at approximately $3,094,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Fraccaro sold 2,748 shares of the business’s stock in a transaction dated Monday, March 29th. The shares were sold at an average price of $364.24, for a total transaction of $1,000,931.52. Following the completion of the sale, the insider now directly owns 9,014 shares of the company’s stock, valued at $3,283,259.36. The disclosure for this sale can be found here. Insiders sold a total of 784,272 shares of company stock worth $260,633,643 in the last 90 days. 3.79% of the stock is currently owned by company insiders.
Mastercard (NYSE:MA) last issued its quarterly earnings data on Thursday, January 28th. The credit services provider reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.13. The business had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $4.01 billion. Mastercard had a return on equity of 114.80% and a net margin of 43.13%. The business’s revenue was down 6.7% on a year-over-year basis. During the same period last year, the business earned $2.07 EPS. Analysts expect that Mastercard Incorporated will post 6.31 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 7th. Stockholders of record on Friday, April 9th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Thursday, April 8th. Mastercard’s dividend payout ratio is currently 22.65%.
A number of analysts have issued reports on MA shares. Sanford C. Bernstein began coverage on Mastercard in a research note on Wednesday, January 27th. They issued an “outperform” rating and a $380.00 price objective on the stock. Jefferies Financial Group raised Mastercard from a “hold” rating to a “buy” rating and raised their price objective for the stock from $315.00 to $415.00 in a research report on Wednesday, January 13th. Deutsche Bank Aktiengesellschaft lifted their target price on Mastercard from $383.00 to $420.00 and gave the stock a “buy” rating in a report on Thursday, January 14th. Mizuho raised their price objective on shares of Mastercard from $400.00 to $430.00 and gave the stock a “buy” rating in a research note on Monday, March 15th. Finally, Barclays lifted their price target on shares of Mastercard from $360.00 to $380.00 and gave the company an “overweight” rating in a research note on Monday, January 25th. Four research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. Mastercard currently has a consensus rating of “Buy” and an average target price of $368.37.
Mastercard Company Profile
Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers related products and services.
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