Riverpark Capital Management LLC Raises Stock Holdings in Mastercard Incorporated $MA

Riverpark Capital Management LLC increased its stake in Mastercard Incorporated (NYSE:MA) by 7.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,866 shares of the credit services provider’s stock after purchasing an additional 198 shares during the period. Mastercard makes up approximately 2.6% of Riverpark Capital Management LLC’s portfolio, making the stock its 14th biggest holding. Riverpark Capital Management LLC’s holdings in Mastercard were worth $1,611,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. LGT Financial Advisors LLC bought a new stake in shares of Mastercard during the 2nd quarter worth $25,000. Family Legacy Financial Solutions LLC bought a new stake in Mastercard during the second quarter worth about $26,000. Flaharty Asset Management LLC bought a new position in shares of Mastercard during the 1st quarter valued at about $27,000. Keystone Global Partners LLC purchased a new position in shares of Mastercard during the 1st quarter valued at about $31,000. Finally, IMG Wealth Management Inc. bought a new stake in Mastercard in the 2nd quarter worth approximately $31,000. 97.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MA has been the topic of a number of recent research reports. Cowen reiterated a “buy” rating on shares of Mastercard in a research report on Friday, October 31st. TD Cowen restated a “buy” rating and issued a $645.00 target price on shares of Mastercard in a report on Monday, August 11th. Truist Financial lowered their price target on shares of Mastercard from $638.00 to $630.00 and set a “buy” rating for the company in a report on Tuesday, November 4th. UBS Group raised their target price on Mastercard from $690.00 to $700.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Finally, Wells Fargo & Company lowered their price target on Mastercard from $669.00 to $660.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $652.50.

Insider Activity at Mastercard

In other news, CFO J. Mehra Sachin sold 17,263 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $591.00, for a total transaction of $10,202,433.00. Following the completion of the transaction, the chief financial officer directly owned 31,234 shares in the company, valued at $18,459,294. This trade represents a 35.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.09% of the company’s stock.

Mastercard Stock Up 1.6%

Shares of Mastercard stock opened at $546.50 on Wednesday. Mastercard Incorporated has a 1 year low of $465.59 and a 1 year high of $601.77. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.16 and a quick ratio of 1.16. The company has a 50-day moving average of $561.57 and a 200 day moving average of $568.80. The firm has a market cap of $490.75 billion, a price-to-earnings ratio of 36.85, a PEG ratio of 2.27 and a beta of 0.92.

Mastercard (NYSE:MA) last announced its quarterly earnings data on Thursday, October 30th. The credit services provider reported $4.38 earnings per share for the quarter, topping analysts’ consensus estimates of $4.31 by $0.07. Mastercard had a net margin of 44.93% and a return on equity of 200.01%. The business had revenue of $8.60 billion for the quarter, compared to analysts’ expectations of $8.53 billion. During the same quarter in the prior year, the company earned $3.89 earnings per share. The business’s revenue was up 16.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Announces Dividend

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

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.