Exchange Capital Management Inc. Acquires New Position in Mastercard Incorporated (NYSE:MA)

Exchange Capital Management Inc. bought a new stake in Mastercard Incorporated (NYSE:MA) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 473 shares of the credit services provider’s stock, valued at approximately $228,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of MA. Activest Wealth Management raised its position in shares of Mastercard by 87.4% during the 4th quarter. Activest Wealth Management now owns 536 shares of the credit services provider’s stock worth $229,000 after purchasing an additional 250 shares during the last quarter. Cross Staff Investments Inc raised its position in shares of Mastercard by 16.3% during the 4th quarter. Cross Staff Investments Inc now owns 3,148 shares of the credit services provider’s stock worth $1,343,000 after purchasing an additional 441 shares during the last quarter. Everett Harris & Co. CA raised its position in shares of Mastercard by 0.5% during the 4th quarter. Everett Harris & Co. CA now owns 49,539 shares of the credit services provider’s stock worth $21,129,000 after purchasing an additional 252 shares during the last quarter. Atlantic Union Bankshares Corp raised its position in shares of Mastercard by 23.9% during the 4th quarter. Atlantic Union Bankshares Corp now owns 12,124 shares of the credit services provider’s stock worth $5,171,000 after purchasing an additional 2,337 shares during the last quarter. Finally, J.Safra Asset Management Corp raised its position in shares of Mastercard by 7.2% during the 4th quarter. J.Safra Asset Management Corp now owns 490 shares of the credit services provider’s stock worth $209,000 after purchasing an additional 33 shares during the last quarter. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder Foundation Mastercard sold 109,000 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $457.46, for a total transaction of $49,863,140.00. Following the completion of the sale, the insider now directly owns 97,215,308 shares in the company, valued at $44,472,114,797.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Craig Vosburg sold 9,028 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $447.28, for a total value of $4,038,043.84. Following the completion of the sale, the insider now owns 58,940 shares in the company, valued at approximately $26,362,683.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Foundation Mastercard sold 109,000 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $457.46, for a total transaction of $49,863,140.00. Following the completion of the sale, the insider now owns 97,215,308 shares of the company’s stock, valued at approximately $44,472,114,797.68. The disclosure for this sale can be found here. Insiders sold 3,163,228 shares of company stock worth $1,428,540,870 over the last three months. Corporate insiders own 0.10% of the company’s stock.

Mastercard Price Performance

MA opened at $444.65 on Wednesday. The firm has a market cap of $413.35 billion, a price-to-earnings ratio of 35.35, a price-to-earnings-growth ratio of 1.72 and a beta of 1.09. Mastercard Incorporated has a fifty-two week low of $359.77 and a fifty-two week high of $490.00. The company’s 50-day moving average price is $451.12 and its 200 day moving average price is $453.44. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.86.

Mastercard (NYSE:MA) last posted its earnings results on Wednesday, May 1st. The credit services provider reported $3.31 EPS for the quarter, topping the consensus estimate of $3.22 by $0.09. Mastercard had a net margin of 46.09% and a return on equity of 183.70%. The firm had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.34 billion. During the same quarter in the prior year, the firm earned $2.80 EPS. Mastercard’s quarterly revenue was up 10.4% on a year-over-year basis. As a group, sell-side analysts expect that Mastercard Incorporated will post 14.26 earnings per share for the current year.

Mastercard Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Tuesday, July 9th will be issued a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend is Tuesday, July 9th. Mastercard’s dividend payout ratio (DPR) is presently 20.99%.

Analyst Ratings Changes

Several research analysts recently issued reports on MA shares. Piper Sandler initiated coverage on Mastercard in a research report on Monday, May 13th. They set an “overweight” rating and a $531.00 price objective for the company. Susquehanna reiterated a “positive” rating and issued a $535.00 price target on shares of Mastercard in a report on Wednesday, April 3rd. JPMorgan Chase & Co. cut their price target on Mastercard from $520.00 to $510.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Robert W. Baird boosted their price target on Mastercard from $525.00 to $545.00 and gave the company an “outperform” rating in a report on Thursday, April 18th. Finally, Morgan Stanley cut their price target on Mastercard from $536.00 to $524.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Two research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $496.91.

Mastercard Company 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.