Mastercard Incorporated (NYSE:MA) Shares Sold by Cornerstone Advisors LLC

Cornerstone Advisors LLC trimmed its stake in Mastercard Incorporated (NYSE:MA) by 5.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,500 shares of the credit services provider’s stock after selling 2,700 shares during the period. Mastercard makes up 0.8% of Cornerstone Advisors LLC’s investment portfolio, making the stock its 28th largest holding. Cornerstone Advisors LLC’s holdings in Mastercard were worth $20,514,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of MA. VitalStone Financial LLC grew its position in Mastercard by 300.0% during the 4th quarter. VitalStone Financial LLC now owns 60 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 45 shares during the last quarter. Westend Capital Management LLC acquired a new position in Mastercard in the 1st quarter valued at about $27,000. Palisade Asset Management LLC acquired a new stake in Mastercard during the 1st quarter worth approximately $27,000. Scarborough Advisors LLC purchased a new position in shares of Mastercard in the 4th quarter valued at approximately $28,000. Finally, Beaird Harris Wealth Management LLC acquired a new position in shares of Mastercard in the fourth quarter valued at approximately $30,000. 97.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on MA. Bank of America cut shares of Mastercard from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $505.00 to $480.00 in a research note on Wednesday, July 10th. Barclays lifted their price objective on Mastercard from $530.00 to $536.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Susquehanna upped their target price on Mastercard from $535.00 to $540.00 and gave the company a “positive” rating in a research note on Thursday, August 1st. Piper Sandler lifted their target price on shares of Mastercard from $531.00 to $536.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, KeyCorp lifted their price objective on Mastercard from $490.00 to $515.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Mastercard has an average rating of “Moderate Buy” and a consensus target price of $510.88.

Mastercard Trading Up 0.3 %

MA opened at $493.36 on Monday. The firm’s fifty day moving average price is $460.67 and its 200 day moving average price is $460.18. The stock has a market capitalization of $458.63 billion, a PE ratio of 39.22, a P/E/G ratio of 1.92 and a beta of 1.10. Mastercard Incorporated has a 12-month low of $359.77 and a 12-month high of $496.85. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.14 and a quick ratio of 1.14.

Mastercard (NYSE:MA) last announced its quarterly earnings data on Wednesday, July 31st. The credit services provider reported $3.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.51 by $0.08. The firm had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $6.85 billion. Mastercard had a return on equity of 179.78% and a net margin of 46.45%. As a group, research analysts expect that Mastercard Incorporated will post 14.29 EPS for the current fiscal year.

Mastercard Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Tuesday, July 9th were paid a dividend of $0.66 per share. The ex-dividend date was Tuesday, July 9th. This represents a $2.64 annualized dividend and a yield of 0.54%. Mastercard’s dividend payout ratio (DPR) is 20.99%.

Insiders Place Their Bets

In other news, insider Craig Vosburg sold 9,028 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $451.06, for a total transaction of $4,072,169.68. Following the sale, the insider now directly owns 58,940 shares in the company, valued at approximately $26,585,476.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Foundation Mastercard sold 90,000 shares of Mastercard stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $468.80, for a total transaction of $42,192,000.00. Following the sale, 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 is accessible through this link. Also, insider Craig Vosburg sold 9,028 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $451.06, for a total value of $4,072,169.68. Following the completion of the sale, the insider now owns 58,940 shares in the company, valued at $26,585,476.40. The disclosure for this sale can be found here. Insiders have sold 720,467 shares of company stock valued at $331,875,955 over the last quarter. Insiders own 0.10% of the company’s stock.

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.