Meeder Asset Management Inc. increased its holdings in shares of Mastercard Incorporated (NYSE:MA) by 531.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,785 shares of the credit services provider’s stock after purchasing an additional 30,957 shares during the period. Meeder Asset Management Inc.’s holdings in Mastercard were worth $13,098,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Regent Peak Wealth Advisors LLC grew its stake in Mastercard by 9.1% in the first quarter. Regent Peak Wealth Advisors LLC now owns 2,438 shares of the credit services provider’s stock valued at $868,000 after acquiring an additional 203 shares during the period. JustInvest LLC increased its stake in Mastercard by 32.8% during the 1st quarter. JustInvest LLC now owns 12,947 shares of the credit services provider’s stock valued at $4,610,000 after purchasing an additional 3,197 shares in the last quarter. Sound View Wealth Advisors Group LLC lifted its stake in shares of Mastercard by 7.8% in the first quarter. Sound View Wealth Advisors Group LLC now owns 1,141 shares of the credit services provider’s stock valued at $406,000 after buying an additional 83 shares in the last quarter. America First Investment Advisors LLC grew its holdings in shares of Mastercard by 1.1% during the first quarter. America First Investment Advisors LLC now owns 32,284 shares of the credit services provider’s stock valued at $11,495,000 after buying an additional 346 shares during the last quarter. Finally, Park Avenue Securities LLC increased its position in shares of Mastercard by 2.6% during the first quarter. Park Avenue Securities LLC now owns 35,183 shares of the credit services provider’s stock worth $12,527,000 after acquiring an additional 895 shares in the last quarter. 73.64% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently weighed in on the company. Macquarie raised their target price on Mastercard from $385.00 to $425.00 and gave the company an “outperform” rating in a report on Friday. Morgan Stanley upped their target price on Mastercard from $418.00 to $444.00 and gave the company an “overweight” rating in a report on Monday. Deutsche Bank Aktiengesellschaft boosted their price objective on Mastercard from $383.00 to $420.00 and gave the stock a “buy” rating in a research report on Thursday, January 14th. Truist Securities lifted their target price on Mastercard from $415.00 to $450.00 and gave the stock a “buy” rating in a research note on Tuesday, March 9th. Finally, Wells Fargo & Company raised their price objective on shares of Mastercard from $350.00 to $400.00 and gave the stock an “overweight” rating in a report on Monday, January 4th. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Mastercard presently has a consensus rating of “Buy” and a consensus price target of $382.26.
Mastercard (NYSE:MA) last announced its earnings results on Thursday, April 29th. The credit services provider reported $1.74 EPS for the quarter, beating the Zacks’ consensus estimate of $1.55 by $0.19. Mastercard had a net margin of 43.13% and a return on equity of 114.80%. The business had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $3.97 billion. During the same period in the prior year, the company earned $1.83 earnings per share. The firm’s revenue was up 4.8% on a year-over-year basis. Research analysts forecast that Mastercard Incorporated will post 6.31 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 7th. Shareholders of record on Friday, April 9th will be given a $0.44 dividend. The ex-dividend date is Thursday, April 8th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.47%. Mastercard’s payout ratio is currently 22.65%.
In other Mastercard news, major shareholder Foundation Mastercard sold 171,594 shares of the company’s stock in a transaction dated Wednesday, February 3rd. The shares were sold at an average price of $327.73, for a total value of $56,236,501.62. Following the transaction, the insider now directly owns 108,382,229 shares in the company, valued at approximately $35,520,107,910.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sandra A. Arkell sold 2,841 shares of the stock in a transaction on Monday, May 3rd. The stock was sold at an average price of $385.47, for a total value of $1,095,120.27. Following the transaction, the insider now directly owns 6,321 shares in the company, valued at approximately $2,436,555.87. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 511,123 shares of company stock worth $172,961,649. 3.79% of the stock is owned by corporate insiders.
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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