Gemsstock Ltd. Acquires New Stake in Mastercard Incorporated (NYSE:MA)

Gemsstock Ltd. acquired a new stake in Mastercard Incorporated (NYSE:MA) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 53,500 shares of the credit services provider’s stock, valued at approximately $18,601,000. Mastercard comprises 8.4% of Gemsstock Ltd.’s holdings, making the stock its 3rd biggest position.

Other large investors also recently added to or reduced their stakes in the company. Moors & Cabot Inc. increased its position in shares of Mastercard by 280.0% during the 3rd quarter. Moors & Cabot Inc. now owns 37,000 shares of the credit services provider’s stock valued at $38,000 after purchasing an additional 27,263 shares during the period. Capital Directions Investment Advisors LLC boosted its position in Mastercard by 234.4% during the second quarter. Capital Directions Investment Advisors LLC now owns 107 shares of the credit services provider’s stock valued at $39,000 after purchasing an additional 75 shares during the last quarter. Avion Wealth lifted its position in shares of Mastercard by 34.0% in the third quarter. Avion Wealth now owns 134 shares of the credit services provider’s stock worth $47,000 after buying an additional 34 shares during the last quarter. Core Alternative Capital bought a new position in shares of Mastercard in the third quarter worth about $47,000. Finally, Samalin Investment Counsel LLC bought a new position in Mastercard during the second quarter valued at about $55,000. 73.32% of the stock is currently owned by institutional investors and hedge funds.

In related news, major shareholder Foundation Mastercard sold 90,994 shares of the company’s stock in a transaction on Wednesday, November 17th. The shares were sold at an average price of $354.40, for a total value of $32,248,273.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Miebach sold 10,670 shares of the stock in a transaction dated Monday, November 15th. The stock was sold at an average price of $370.00, for a total value of $3,947,900.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 647,628 shares of company stock worth $214,977,545. Corporate insiders own 0.33% of the company’s stock.

Shares of MA stock traded up $2.29 during mid-day trading on Friday, hitting $371.81. 60,876 shares of the stock traded hands, compared to its average volume of 3,897,511. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.33 and a current ratio of 1.33. The firm has a market cap of $365.33 billion, a price-to-earnings ratio of 45.45, a price-to-earnings-growth ratio of 1.69 and a beta of 1.15. The company’s 50-day simple moving average is $349.56 and its 200-day simple moving average is $355.90. Mastercard Incorporated has a twelve month low of $306.00 and a twelve month high of $401.50.

Mastercard (NYSE:MA) last released its quarterly earnings data on Thursday, October 28th. The credit services provider reported $2.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.19 by $0.18. Mastercard had a return on equity of 116.88% and a net margin of 45.50%. The firm had revenue of $4.99 billion during the quarter, compared to analysts’ expectations of $4.95 billion. During the same quarter last year, the firm earned $1.60 earnings per share. The business’s revenue for the quarter was up 29.9% on a year-over-year basis. Analysts forecast that Mastercard Incorporated will post 8.27 earnings per share for the current year.

Mastercard declared that its board has initiated a stock repurchase plan on Tuesday, November 30th that permits the company to repurchase $8.00 billion in outstanding shares. This repurchase authorization permits the credit services provider to buy up to 2.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 9th. Stockholders of record on Friday, January 7th will be paid a $0.49 dividend. This is a positive change from Mastercard’s previous quarterly dividend of $0.44. This represents a $1.96 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend is Thursday, January 6th. Mastercard’s dividend payout ratio is currently 24.11%.

MA has been the topic of several research reports. Morgan Stanley reduced their price objective on Mastercard from $451.00 to $448.00 and set an “overweight” rating on the stock in a report on Friday, October 29th. Wells Fargo & Company increased their target price on Mastercard from $400.00 to $430.00 and gave the stock an “overweight” rating in a report on Thursday, November 11th. Royal Bank of Canada decreased their price target on shares of Mastercard from $412.00 to $403.00 and set an “outperform” rating on the stock in a report on Friday, October 29th. Mizuho dropped their target price on shares of Mastercard from $465.00 to $400.00 and set a “buy” rating for the company in a research report on Friday, January 7th. Finally, Raymond James lifted their price target on shares of Mastercard from $430.00 to $453.00 and gave the company an “outperform” rating in a research report on Tuesday. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $426.30.

Mastercard Profile

Mastercard, Inc operates as a technology company. The firm engages in the payments industry that connects consumers, financial institutions, merchants, governments and business. It offers payment solutions for the development and implementation of credit, debit, prepaid, commercial and payment programs.

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Institutional Ownership by Quarter for Mastercard (NYSE:MA)

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