Cornerstone Wealth Management LLC Lowers Stock Position in Mastercard Incorporated (NYSE:MA)

Cornerstone Wealth Management LLC decreased its position in Mastercard Incorporated (NYSE:MA) by 22.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,204 shares of the credit services provider’s stock after selling 1,248 shares during the period. Cornerstone Wealth Management LLC’s holdings in Mastercard were worth $2,024,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of MA. Vanguard Group Inc. grew its stake in Mastercard by 1.0% in the 4th 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 during the period. Capital International Investors lifted its holdings 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 purchasing an additional 676,452 shares in the last quarter. Capital Research Global Investors increased its stake in shares of 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 worth $5,803,956,000 after purchasing an additional 605,909 shares in the last quarter. Norges Bank acquired a new position in shares of Mastercard during the 4th quarter worth about $4,595,559,000. Finally, Royal Bank of Canada lifted its stake in Mastercard by 1.1% in the 3rd 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 in the last quarter. Institutional investors and hedge funds own 97.28% of the company’s stock.

Insider Buying and Selling

In other Mastercard news, major shareholder Foundation Mastercard sold 111,000 shares of the stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $457.15, for a total value of $50,743,650.00. Following the sale, the insider now owns 97,432,308 shares of the company’s stock, valued at approximately $44,541,179,602.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Sandra A. Arkell sold 300 shares of Mastercard stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $454.00, for a total transaction of $136,200.00. Following the sale, the insider now directly owns 3,463 shares in the company, valued at approximately $1,572,202. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Foundation Mastercard sold 111,000 shares of the company’s stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $457.15, for a total transaction of $50,743,650.00. Following the completion of the transaction, the insider now owns 97,432,308 shares of the company’s stock, valued at approximately $44,541,179,602.20. The disclosure for this sale can be found here. Insiders have sold a total of 3,163,228 shares of company stock valued at $1,428,540,870 in the last ninety days. Company insiders own 0.10% of the company’s stock.

Mastercard Stock Up 0.8 %

Shares of MA opened at $448.18 on Friday. The company’s 50-day moving average price is $450.47 and its 200 day moving average price is $453.59. 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 firm has a market cap of $416.63 billion, a P/E ratio of 35.63, a price-to-earnings-growth ratio of 1.75 and a beta of 1.09.

Mastercard (NYSE:MA) last released its quarterly earnings results on Wednesday, May 1st. The credit services provider reported $3.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $0.09. The business had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.34 billion. Mastercard had a net margin of 46.09% and a return on equity of 183.70%. The business’s revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.80 EPS. On average, sell-side analysts forecast that Mastercard Incorporated will post 14.26 earnings per share for the current year.

Mastercard Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Tuesday, July 9th will be paid a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 0.59%. The ex-dividend date is Tuesday, July 9th. Mastercard’s payout ratio is 20.99%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Susquehanna reiterated a “positive” rating and set a $535.00 price objective on shares of Mastercard in a research note on Wednesday, April 3rd. Barclays dropped their price target on Mastercard from $549.00 to $530.00 and set an “overweight” rating for the company in a research report on Monday, May 6th. Piper Sandler initiated coverage on Mastercard in a report on Monday, May 13th. They issued an “overweight” rating and a $531.00 price objective on the stock. JPMorgan Chase & Co. dropped their target price on shares of Mastercard from $520.00 to $510.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Finally, Mizuho decreased their price target on shares of Mastercard from $480.00 to $478.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Two analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $496.91.

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.