Bornite Capital Management LP Takes Position in Mastercard Incorporated (NYSE:MA)

Bornite Capital Management LP bought a new stake in Mastercard Incorporated (NYSE:MA) in the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 30,000 shares of the credit services provider’s stock, valued at approximately $14,447,000. Mastercard accounts for about 2.4% of Bornite Capital Management LP’s investment portfolio, making the stock its 17th largest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in MA. IFG Advisory LLC raised its position in shares of Mastercard by 4.6% in the fourth quarter. IFG Advisory LLC now owns 1,890 shares of the credit services provider’s stock valued at $806,000 after purchasing an additional 83 shares during the period. McGlone Suttner Wealth Management Inc. purchased a new position in Mastercard during the fourth quarter valued at approximately $130,000. Global Retirement Partners LLC grew its stake in Mastercard by 1.8% during the fourth quarter. Global Retirement Partners LLC now owns 6,296 shares of the credit services provider’s stock valued at $2,697,000 after acquiring an additional 109 shares in the last quarter. Precedent Wealth Partners LLC purchased a new position in Mastercard during the fourth quarter valued at approximately $205,000. Finally, Occidental Asset Management LLC purchased a new position in Mastercard during the fourth quarter valued at approximately $217,000. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Insider Transactions at Mastercard

In other news, major shareholder Foundation Mastercard sold 138,000 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 92,152,308 shares of the company’s stock, valued at approximately $41,762,504,462.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Craig Vosburg sold 9,028 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $447.28, for a total transaction of $4,038,043.84. Following the sale, the insider now directly owns 58,940 shares of the company’s stock, valued at approximately $26,362,683.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Foundation Mastercard sold 138,000 shares of the stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $453.19, for a total transaction of $62,540,220.00. Following the sale, the insider now directly owns 92,152,308 shares in the company, valued at $41,762,504,462.52. The disclosure for this sale can be found here. Insiders have sold 2,720,228 shares of company stock valued at $1,224,758,080 in the last three months. 0.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

MA has been the subject of a number of research reports. Robert W. Baird boosted their price target on shares of Mastercard from $525.00 to $545.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. Barclays cut their price target on shares of Mastercard from $549.00 to $530.00 and set an “overweight” rating for the company in a research note on Monday, May 6th. Piper Sandler initiated coverage on shares of Mastercard in a research note on Monday, May 13th. They issued an “overweight” rating and a $531.00 price target for the company. Morgan Stanley cut their price target on shares of Mastercard from $536.00 to $524.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Finally, Susquehanna reissued a “positive” rating and issued a $535.00 price target on shares of Mastercard in a research note on Wednesday, April 3rd. Three equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Mastercard has an average rating of “Moderate Buy” and an average price target of $501.23.

Mastercard Trading Up 0.7 %

NYSE MA traded up $3.12 during trading on Monday, hitting $441.30. The company had a trading volume of 2,047,030 shares, compared to its average volume of 2,489,625. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.86. Mastercard Incorporated has a one year low of $359.77 and a one year high of $490.00. The company has a market cap of $410.24 billion, a price-to-earnings ratio of 35.08, a price-to-earnings-growth ratio of 1.73 and a beta of 1.09. The company’s fifty day moving average is $446.14 and its 200-day moving average is $456.18.

Mastercard (NYSE:MA) last issued its quarterly earnings data on Wednesday, May 1st. The credit services provider reported $3.31 EPS for the quarter, topping the consensus estimate of $3.22 by $0.09. Mastercard had a net margin of 46.09% and a return on equity of 183.70%. The business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.34 billion. During the same period in the prior year, the business earned $2.80 EPS. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, sell-side analysts predict that Mastercard Incorporated will post 14.25 earnings per share for the current year.

Mastercard Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Tuesday, July 9th will be given a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date is Tuesday, July 9th. Mastercard’s dividend payout ratio is presently 20.99%.

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.