Kayne Anderson Rudnick Investment Management LLC Acquires 5,160 Shares of Mastercard Incorporated (NYSE:MA)

Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Mastercard Incorporated (NYSE:MA) by 15.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,540 shares of the credit services provider’s stock after purchasing an additional 5,160 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Mastercard were worth $17,444,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Mastercard by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 75,584,606 shares of the credit services provider’s stock worth $36,399,279,000 after purchasing an additional 330,872 shares during the last quarter. Capital International Investors increased its stake in shares of Mastercard by 3.3% during the 4th quarter. Capital International Investors now owns 21,041,685 shares of the credit services provider’s stock worth $8,974,478,000 after purchasing an additional 676,452 shares during the last quarter. Capital Research Global Investors increased its stake in shares of Mastercard by 0.3% during the 1st quarter. Capital Research Global Investors now owns 13,651,904 shares of the credit services provider’s stock worth $6,574,347,000 after purchasing an additional 43,881 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Mastercard by 2.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 4,327,168 shares of the credit services provider’s stock worth $1,908,973,000 after purchasing an additional 113,238 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Mastercard by 0.9% during the 2nd quarter. American Century Companies Inc. now owns 4,250,760 shares of the credit services provider’s stock worth $1,875,266,000 after purchasing an additional 38,380 shares during the last quarter. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Mastercard Stock Performance

Shares of Mastercard stock opened at $492.74 on Friday. The company has a 50 day moving average of $466.24 and a 200-day moving average of $461.11. Mastercard Incorporated has a 1-year low of $359.77 and a 1-year high of $501.80. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.95. The company has a market cap of $458.06 billion, a PE ratio of 39.17, a price-to-earnings-growth ratio of 1.92 and a beta of 1.10.

Mastercard (NYSE:MA) last issued its quarterly earnings results on Wednesday, July 31st. The credit services provider reported $3.59 earnings per share for the quarter, topping analysts’ consensus estimates of $3.51 by $0.08. Mastercard had a net margin of 46.45% and a return on equity of 179.78%. The company had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.85 billion. As a group, equities research analysts forecast that Mastercard Incorporated will post 14.29 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, November 8th. Investors of record on Wednesday, October 9th will be paid a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 0.54%. The ex-dividend date is Wednesday, October 9th. Mastercard’s payout ratio is 20.99%.

Insider Activity at Mastercard

In related news, CFO J. Mehra Sachin sold 13,439 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $455.00, for a total value of $6,114,745.00. Following the completion of the transaction, the chief financial officer now owns 27,304 shares of the company’s stock, valued at approximately $12,423,320. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, major shareholder Foundation Mastercard sold 138,000 shares of the stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $453.19, for a total value of $62,540,220.00. Following the completion of the transaction, the insider now owns 92,152,308 shares of the company’s stock, valued at approximately $41,762,504,462.52. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO J. Mehra Sachin sold 13,439 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $455.00, for a total transaction of $6,114,745.00. Following the completion of the transaction, the chief financial officer now owns 27,304 shares of the company’s stock, valued at $12,423,320. The disclosure for this sale can be found here. Insiders sold a total of 605,124 shares of company stock valued at $280,045,189 in the last quarter. Insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

MA has been the topic of several recent analyst reports. Barclays boosted their price objective on shares of Mastercard from $530.00 to $536.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Bank of America upped their price target on shares of Mastercard from $480.00 to $509.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Piper Sandler upped their price target on shares of Mastercard from $531.00 to $536.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. TD Cowen upped their price target on shares of Mastercard from $532.00 to $533.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, KeyCorp upped their price target on shares of Mastercard from $490.00 to $515.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Five analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Mastercard currently has an average rating of “Moderate Buy” and a consensus target price of $512.08.

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.