CoreCap Advisors LLC Acquires Shares of 2,438 Mastercard Incorporated (NYSE:MA)

CoreCap Advisors LLC acquired a new stake in Mastercard Incorporated (NYSE:MA) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 2,438 shares of the credit services provider’s stock, valued at approximately $1,075,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MA. Norges Bank bought a new position in shares of Mastercard during the fourth quarter valued at approximately $4,595,559,000. Swedbank AB bought a new position in shares of Mastercard during the first quarter valued at approximately $660,652,000. PineStone Asset Management Inc. raised its holdings in shares of Mastercard by 145.6% during the second quarter. PineStone Asset Management Inc. now owns 1,777,468 shares of the credit services provider’s stock valued at $784,148,000 after acquiring an additional 1,053,616 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of 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 acquiring an additional 742,076 shares in the last quarter. Finally, Capital International Investors raised its holdings in shares of 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 acquiring an additional 676,452 shares in the last quarter. Institutional investors own 97.28% of the company’s stock.

Mastercard Stock Up 0.3 %

MA stock opened at $493.36 on Friday. Mastercard Incorporated has a fifty-two week low of $359.77 and a fifty-two week high of $496.85. The business’s 50-day moving average is $460.67 and its two-hundred day moving average is $460.41. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.14 and a current ratio of 1.14. The company has a market cap of $458.63 billion, a price-to-earnings ratio of 39.22, a P/E/G ratio of 1.92 and a beta of 1.10.

Mastercard Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Tuesday, July 9th were issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Tuesday, July 9th. Mastercard’s dividend payout ratio is 20.99%.

Insider Buying and Selling at Mastercard

In other Mastercard news, major shareholder Foundation Mastercard sold 90,000 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $468.80, for a total value of $42,192,000.00. Following the transaction, the insider now owns 91,649,308 shares of the company’s stock, valued at $42,965,195,590.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, major shareholder Foundation Mastercard sold 90,000 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $468.80, for a total value of $42,192,000.00. Following the transaction, the insider now owns 91,649,308 shares of the company’s stock, valued at $42,965,195,590.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Craig Vosburg sold 9,028 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $451.06, for a total value of $4,072,169.68. Following the completion of the transaction, the insider now directly owns 58,940 shares in the company, valued at approximately $26,585,476.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 827,467 shares of company stock valued at $379,595,815. 0.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on MA shares. Barclays upped their price target on Mastercard from $530.00 to $536.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Evercore ISI reduced their price target on Mastercard from $540.00 to $525.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Piper Sandler upped their price target on Mastercard from $531.00 to $536.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Citigroup upped their price target on Mastercard from $528.00 to $538.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, William Blair raised Mastercard to a “strong-buy” rating in a research note on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $510.88.

About Mastercard

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.