ZRC Wealth Management LLC Raises Stock Position in Mastercard Incorporated (NYSE:MA)

ZRC Wealth Management LLC increased its holdings in shares of Mastercard Incorporated (NYSE:MA) by 67.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 220 shares of the credit services provider’s stock after purchasing an additional 89 shares during the period. ZRC Wealth Management LLC’s holdings in Mastercard were worth $106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Mastercard by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 75,253,734 shares of the credit services provider’s stock valued at $32,096,470,000 after buying an additional 742,076 shares during the period. Capital International Investors grew its position in Mastercard by 3.3% during the fourth quarter. Capital International Investors now owns 21,041,685 shares of the credit services provider’s stock valued at $8,974,478,000 after buying an additional 676,452 shares during the period. Capital Research Global Investors grew its position in Mastercard by 4.7% during the fourth quarter. Capital Research Global Investors now owns 13,608,023 shares of the credit services provider’s stock valued at $5,803,956,000 after buying an additional 605,909 shares during the period. Norges Bank acquired a new stake in Mastercard during the fourth quarter valued at $4,595,559,000. Finally, Royal Bank of Canada grew its position in Mastercard by 1.1% during the third quarter. Royal Bank of Canada now owns 5,314,881 shares of the credit services provider’s stock valued at $2,104,214,000 after buying an additional 56,642 shares during the period. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on MA shares. Robert W. Baird lifted their target price on shares of Mastercard from $525.00 to $545.00 and gave the company an “outperform” rating in a research report on Thursday, April 18th. Barclays dropped their target price on shares of Mastercard from $549.00 to $530.00 and set an “overweight” rating on the stock in a research report on Monday, May 6th. Mizuho lowered their price target on shares of Mastercard from $480.00 to $478.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Morgan Stanley lowered their price target on shares of Mastercard from $536.00 to $524.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Finally, TD Cowen began coverage on shares of Mastercard in a research report on Thursday, April 11th. They set a “buy” rating and a $545.00 price target on the stock. Two 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $496.91.

Mastercard Trading Up 0.8 %

Shares of Mastercard stock opened at $448.18 on Friday. The company has a fifty day simple moving average of $450.19 and a 200-day simple moving average of $453.55. Mastercard Incorporated has a 12-month low of $359.77 and a 12-month high of $490.00. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.86. The stock has a market cap of $416.63 billion, a price-to-earnings ratio of 35.63, a PEG ratio of 1.75 and a beta of 1.09.

Mastercard (NYSE:MA) last issued its earnings results on Wednesday, May 1st. The credit services provider reported $3.31 earnings per share (EPS) for the quarter, beating 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 business 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 business posted $2.80 EPS. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, equities analysts forecast that Mastercard Incorporated will post 14.26 EPS for the current fiscal year.

Mastercard Dividend Announcement

The business also recently announced 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 is Tuesday, July 9th. Mastercard’s payout ratio is 20.99%.

Insider Activity

In related news, major shareholder Foundation Mastercard sold 110,000 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $441.43, for a total value of $48,557,300.00. Following the completion of the sale, the insider now owns 94,014,308 shares in the company, valued at approximately $41,500,735,980.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Mastercard news, insider Craig Vosburg sold 9,028 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $447.28, for a total transaction of $4,038,043.84. Following the completion of the transaction, 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 link. Also, major shareholder Foundation Mastercard sold 110,000 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $441.43, for a total transaction of $48,557,300.00. Following the transaction, the insider now owns 94,014,308 shares of the company’s stock, valued at approximately $41,500,735,980.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,163,228 shares of company stock worth $1,428,540,870. Corporate insiders own 0.10% 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.