Turtle Creek Wealth Advisors LLC Buys 2,054 Shares of Mastercard Incorporated $MA

Turtle Creek Wealth Advisors LLC lifted its position in Mastercard Incorporated (NYSE:MA) by 12.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 18,501 shares of the credit services provider’s stock after purchasing an additional 2,054 shares during the period. Turtle Creek Wealth Advisors LLC’s holdings in Mastercard were worth $9,502,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of MA. Brighton Jones LLC lifted its stake in Mastercard by 42.3% in the 4th quarter. Brighton Jones LLC now owns 6,824 shares of the credit services provider’s stock worth $3,594,000 after purchasing an additional 2,028 shares in the last quarter. Schnieders Capital Management LLC. increased its holdings in shares of Mastercard by 8.5% in the second quarter. Schnieders Capital Management LLC. now owns 2,548 shares of the credit services provider’s stock worth $1,432,000 after purchasing an additional 200 shares during the period. Betterment LLC raised its position in shares of Mastercard by 6.5% in the second quarter. Betterment LLC now owns 947 shares of the credit services provider’s stock worth $532,000 after buying an additional 58 shares in the last quarter. Worldquant Millennium Advisors LLC raised its position in shares of Mastercard by 35.8% in the second quarter. Worldquant Millennium Advisors LLC now owns 677,204 shares of the credit services provider’s stock worth $380,548,000 after buying an additional 178,387 shares in the last quarter. Finally, Darwin Wealth Management LLC bought a new stake in Mastercard during the second quarter valued at $431,000. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Mastercard Price Performance

Shares of Mastercard stock opened at $574.21 on Thursday. Mastercard Incorporated has a 52-week low of $464.52 and a 52-week high of $601.77. The stock has a market capitalization of $503.01 billion, a price-to-earnings ratio of 31.58, a price-to-earnings-growth ratio of 1.73 and a beta of 0.72. The company has a fifty day moving average of $535.21 and a 200-day moving average of $517.37. The company has a debt-to-equity ratio of 3.96, a quick ratio of 1.06 and a current ratio of 1.06.

Mastercard (NYSE:MA) last posted its quarterly earnings results on Thursday, July 30th. The credit services provider reported $5.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.77 by $0.27. Mastercard had a net margin of 46.34% and a return on equity of 239.99%. The business had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.08 billion. During the same period in the prior year, the business posted $4.15 earnings per share. The company’s revenue was up 14.1% on a year-over-year basis. Equities research analysts expect that Mastercard Incorporated will post 19.86 EPS for the current year.

Mastercard Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Thursday, July 9th were issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Thursday, July 9th. Mastercard’s dividend payout ratio is currently 19.14%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on MA shares. Robert W. Baird upped their target price on Mastercard from $660.00 to $680.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. Weiss Ratings upgraded Mastercard from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. UBS Group upped their price objective on shares of Mastercard from $640.00 to $670.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Truist Financial raised their target price on shares of Mastercard from $554.00 to $633.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Finally, TD Cowen lifted their target price on shares of Mastercard from $664.00 to $667.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Five research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Mastercard presently has a consensus rating of “Buy” and a consensus target price of $661.93.

Insider Activity at Mastercard

In other Mastercard news, insider Linda Pistecchia Kirkpatrick sold 4,280 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $570.31, for a total transaction of $2,440,926.80. Following the completion of the sale, the insider owned 31,179 shares of the company’s stock, valued at $17,781,695.49. This represents a 12.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Miebach sold 15,372 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $575.00, for a total value of $8,838,900.00. Following the completion of the sale, the chief executive officer directly owned 93,693 shares in the company, valued at $53,873,475. The trade was a 14.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 62,913 shares of company stock worth $35,769,036 over the last ninety days. Insiders own 0.09% of the company’s stock.

Mastercard Profile

Mastercard Incorporated is a global payments technology company that operates a network connecting consumers, financial institutions, merchants, governments and businesses in more than 200 countries and territories. The company facilitates electronic payments and transaction processing for credit, debit and prepaid card products carrying the Mastercard brand, while also providing a range of payment-related services to issuers, acquirers and merchants. Its technology and network enable authorization, clearing and settlement of payments and support a broad set of use cases including point-of-sale, e-commerce and mobile payments.

Beyond core transaction processing, Mastercard offers a suite of value-added services such as fraud and risk management, identity and authentication tools, tokenization and digital wallet support, cross-border and commercial payment solutions, and data analytics and consulting services for merchants and financial partners.