Cresset Asset Management LLC Purchases 7,811 Shares of Mastercard Incorporated $MA

Cresset Asset Management LLC grew its position in Mastercard Incorporated (NYSE:MA) by 8.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 104,618 shares of the credit services provider’s stock after purchasing an additional 7,811 shares during the period. Cresset Asset Management LLC’s holdings in Mastercard were worth $58,790,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Brighton Jones LLC grew its stake in shares of Mastercard by 42.3% during the fourth quarter. Brighton Jones LLC now owns 6,824 shares of the credit services provider’s stock valued at $3,594,000 after buying an additional 2,028 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Mastercard by 4.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,397,147 shares of the credit services provider’s stock worth $2,958,284,000 after acquiring an additional 221,417 shares during the last quarter. Roof Eidam Maycock Peralta LLC boosted its holdings in Mastercard by 6.5% during the 1st quarter. Roof Eidam Maycock Peralta LLC now owns 4,741 shares of the credit services provider’s stock valued at $2,599,000 after acquiring an additional 290 shares during the period. Deutsche Bank AG grew its position in Mastercard by 9.0% in the 1st quarter. Deutsche Bank AG now owns 3,042,882 shares of the credit services provider’s stock valued at $1,667,864,000 after acquiring an additional 250,974 shares during the last quarter. Finally, Waycross Partners LLC increased its stake in Mastercard by 24.7% in the first quarter. Waycross Partners LLC now owns 56,407 shares of the credit services provider’s stock worth $30,918,000 after purchasing an additional 11,168 shares during the period. 97.28% of the stock is owned by hedge funds and other institutional investors.

Mastercard Trading Down 2.1%

NYSE:MA opened at $541.83 on Friday. The firm has a 50-day simple moving average of $556.95 and a 200-day simple moving average of $567.39. Mastercard Incorporated has a one year low of $465.59 and a one year high of $601.77. The firm has a market cap of $486.56 billion, a P/E ratio of 34.64, a P/E/G ratio of 2.17 and a beta of 0.87. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.12 and a current ratio of 1.12.

Mastercard (NYSE:MA) last released its quarterly earnings data on Thursday, October 30th. The credit services provider reported $4.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.31 by $0.07. The firm had revenue of $8.60 billion for the quarter, compared to the consensus estimate of $8.53 billion. Mastercard had a net margin of 45.28% and a return on equity of 202.03%. The company’s quarterly revenue was up 16.7% on a year-over-year basis. During the same period last year, the firm earned $3.89 earnings per share. Equities analysts anticipate that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Mastercard Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Thursday, October 9th were given a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, October 9th. Mastercard’s payout ratio is presently 19.44%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on MA shares. Tigress Financial boosted their target price on shares of Mastercard from $685.00 to $730.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 6th. Wall Street Zen lowered shares of Mastercard from a “buy” rating to a “hold” rating in a report on Friday, November 28th. Compass Point set a $620.00 target price on shares of Mastercard and gave the stock a “neutral” rating in a research note on Friday, October 31st. Citigroup raised shares of Mastercard to a “strong-buy” rating in a research report on Thursday, October 23rd. Finally, Truist Financial lowered their price target on Mastercard from $638.00 to $630.00 and set a “buy” rating for the company in a report on Tuesday, November 4th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $652.50.

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.