Meyer Handelman Co. Acquires Shares of 560 Mastercard Incorporated (NYSE:MA)

Meyer Handelman Co. acquired a new stake in Mastercard Incorporated (NYSE:MA) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 560 shares of the credit services provider’s stock, valued at approximately $270,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MA. Activest Wealth Management increased its holdings in Mastercard by 87.4% in 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 in the last quarter. Cross Staff Investments Inc grew its position in shares of Mastercard by 16.3% in the 4th quarter. Cross Staff Investments Inc now owns 3,148 shares of the credit services provider’s stock valued at $1,343,000 after buying an additional 441 shares during the last quarter. Everett Harris & Co. CA grew its position in shares of Mastercard by 0.5% in the 4th quarter. Everett Harris & Co. CA now owns 49,539 shares of the credit services provider’s stock valued at $21,129,000 after buying an additional 252 shares during the last quarter. Atlantic Union Bankshares Corp grew its position in shares of Mastercard by 23.9% in the 4th quarter. Atlantic Union Bankshares Corp now owns 12,124 shares of the credit services provider’s stock valued at $5,171,000 after buying an additional 2,337 shares during the last quarter. Finally, J.Safra Asset Management Corp grew its position in shares of Mastercard by 7.2% in the 4th quarter. J.Safra Asset Management Corp now owns 490 shares of the credit services provider’s stock valued at $209,000 after buying an additional 33 shares during the last quarter. 97.28% of the stock is owned by institutional investors and hedge funds.

Mastercard Stock Performance

Shares of Mastercard stock opened at $454.85 on Friday. The company has a market cap of $422.83 billion, a PE ratio of 36.16, a price-to-earnings-growth ratio of 1.77 and a beta of 1.09. Mastercard Incorporated has a 52 week low of $359.77 and a 52 week high of $490.00. The business has a 50 day moving average price of $452.30 and a 200-day moving average price of $451.87. 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 issued its quarterly earnings data 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. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.34 billion. Mastercard had a return on equity of 183.70% and a net margin of 46.09%. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.80 earnings per share. Equities analysts anticipate that Mastercard Incorporated will post 14.22 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

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 paid a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 0.58%. The ex-dividend date is Tuesday, July 9th. Mastercard’s dividend payout ratio (DPR) is presently 20.99%.

Analyst Ratings Changes

A number of research firms have commented on MA. TD Cowen began coverage on Mastercard in a research report on Thursday, April 11th. They issued a “buy” rating and a $545.00 price target on the stock. JPMorgan Chase & Co. reduced their price target on Mastercard from $520.00 to $510.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Evercore ISI upped their price target on Mastercard from $530.00 to $545.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. Morgan Stanley cut their target price on Mastercard from $536.00 to $524.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Finally, Wells Fargo & Company upped their target price on Mastercard from $490.00 to $530.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. Two equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $497.78.

Insider Transactions at Mastercard

In other news, insider Sandra A. Arkell sold 300 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $447.23, for a total value of $134,169.00. Following the completion of the sale, the insider now directly owns 4,063 shares of the company’s stock, valued at $1,817,095.49. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Sandra A. Arkell sold 300 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $447.23, for a total transaction of $134,169.00. Following the completion of the sale, the insider now directly owns 4,063 shares of the company’s stock, valued at $1,817,095.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Foundation Mastercard sold 111,000 shares of the stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $457.15, for a total value of $50,743,650.00. Following the sale, the insider now directly owns 97,432,308 shares of the company’s stock, valued at $44,541,179,602.20. The disclosure for this sale can be found here. Insiders sold a total of 2,774,200 shares of company stock valued at $1,251,670,450 over the last ninety days. 0.10% of the stock is currently owned by insiders.

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.