Cornerstone Advisors LLC Has $23.51 Million Position in Mastercard Incorporated (NYSE:MA)

Cornerstone Advisors LLC lifted its holdings in shares of Mastercard Incorporated (NYSE:MA) by 2.4% during the 3rd quarter, Holdings Channel reports. The firm owned 47,600 shares of the credit services provider’s stock after purchasing an additional 1,100 shares during the quarter. Mastercard comprises 0.9% of Cornerstone Advisors LLC’s holdings, making the stock its 23rd largest position. Cornerstone Advisors LLC’s holdings in Mastercard were worth $23,505,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. International Assets Investment Management LLC boosted its position in shares of Mastercard by 120,665.3% during the 3rd quarter. International Assets Investment Management LLC now owns 8,041,758 shares of the credit services provider’s stock worth $3,971,020,000 after purchasing an additional 8,035,099 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Mastercard by 1.4% in the second quarter. Ameriprise Financial Inc. now owns 5,082,729 shares of the credit services provider’s stock worth $2,241,297,000 after acquiring an additional 71,569 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in Mastercard by 2.7% in the second quarter. Canada Pension Plan Investment Board now owns 4,327,168 shares of the credit services provider’s stock valued at $1,908,973,000 after acquiring an additional 113,238 shares during the period. American Century Companies Inc. increased its holdings in shares of Mastercard by 0.9% during the second quarter. American Century Companies Inc. now owns 4,250,760 shares of the credit services provider’s stock valued at $1,875,266,000 after acquiring an additional 38,380 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Mastercard by 6.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,986,604 shares of the credit services provider’s stock valued at $1,758,773,000 after purchasing an additional 227,111 shares during the period. Institutional investors and hedge funds own 97.28% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on MA shares. UBS Group lifted their price objective on shares of Mastercard from $590.00 to $610.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Compass Point began coverage on shares of Mastercard in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $525.00 target price for the company. Barclays raised their price target on shares of Mastercard from $536.00 to $576.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Robert W. Baird lifted their price target on Mastercard from $545.00 to $575.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, Mizuho raised their price objective on shares of Mastercard from $496.00 to $532.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $549.16.

Insider Transactions at Mastercard

In other news, CMO Venkata R. Madabhushi sold 4,685 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $493.10, for a total value of $2,310,173.50. Following the completion of the transaction, the chief marketing officer now directly owns 17,118 shares in the company, valued at approximately $8,440,885.80. This represents a 21.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.10% of the company’s stock.

Mastercard Trading Down 1.3 %

Mastercard stock opened at $512.54 on Thursday. The stock has a market cap of $470.42 billion, a P/E ratio of 38.77, a PEG ratio of 2.31 and a beta of 1.10. Mastercard Incorporated has a fifty-two week low of $404.32 and a fifty-two week high of $534.03. The firm’s fifty day moving average price is $505.90 and its 200-day moving average price is $472.76. The company has a debt-to-equity ratio of 2.36, a quick ratio of 1.29 and a current ratio of 1.29.

Mastercard (NYSE:MA) last released its quarterly earnings results on Thursday, October 31st. The credit services provider reported $3.89 earnings per share for the quarter, beating the consensus estimate of $3.73 by $0.16. Mastercard had a return on equity of 178.27% and a net margin of 45.26%. The firm had revenue of $7.37 billion for the quarter, compared to analysts’ expectations of $7.27 billion. During the same quarter last year, the firm posted $3.39 EPS. The company’s revenue was up 12.8% compared to the same quarter last year. Equities research analysts forecast that Mastercard Incorporated will post 14.47 earnings per share for the current fiscal year.

Mastercard Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Wednesday, October 9th were paid a $0.66 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $2.64 dividend on an annualized basis and a yield of 0.52%. Mastercard’s dividend payout ratio is presently 19.97%.

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.