Cornerstone Advisors LLC Has $23.51 Million Stock Position in Mastercard Incorporated (NYSE:MA)

Cornerstone Advisors LLC boosted its holdings in shares of Mastercard Incorporated (NYSE:MA) by 2.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,600 shares of the credit services provider’s stock after buying an additional 1,100 shares during the quarter. Mastercard makes up approximately 0.9% of Cornerstone Advisors LLC’s investment portfolio, making the stock its 23rd largest position. Cornerstone Advisors LLC’s holdings in Mastercard were worth $23,505,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Sarasin & Partners LLP grew its stake in Mastercard by 4.7% in the 3rd quarter. Sarasin & Partners LLP now owns 831,942 shares of the credit services provider’s stock valued at $410,813,000 after buying an additional 37,486 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Mastercard by 4.8% during the third quarter. Principal Financial Group Inc. now owns 3,031,915 shares of the credit services provider’s stock worth $1,497,160,000 after purchasing an additional 138,842 shares during the period. Coppell Advisory Solutions Corp. acquired a new stake in Mastercard during the 1st quarter worth approximately $608,000. SteelPeak Wealth LLC boosted its stake in Mastercard by 48.6% in the 2nd quarter. SteelPeak Wealth LLC now owns 4,928 shares of the credit services provider’s stock valued at $2,174,000 after purchasing an additional 1,612 shares during the period. Finally, OMC Financial Services LTD acquired a new position in Mastercard in the 1st quarter valued at $17,854,000. Institutional investors own 97.28% of the company’s stock.

Wall Street Analysts Forecast Growth

MA has been the subject of a number of research reports. William Blair raised Mastercard to a “strong-buy” rating in a report on Wednesday, July 31st. Robert W. Baird boosted their price objective on shares of Mastercard from $545.00 to $575.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Bank of America raised their target price on shares of Mastercard from $480.00 to $509.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Royal Bank of Canada reiterated an “outperform” rating and issued a $572.00 price target on shares of Mastercard in a research note on Thursday, November 14th. Finally, TD Cowen raised their price objective on Mastercard from $533.00 to $567.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Four research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Mastercard presently has a consensus rating of “Moderate Buy” and a consensus price target of $549.16.

Insider Activity at Mastercard

In related news, CMO Venkata R. Madabhushi sold 4,685 shares of Mastercard stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $489.86, for a total value of $2,294,994.10. Following the transaction, the chief marketing officer now directly owns 15,031 shares of the company’s stock, valued at $7,363,085.66. The trade was a 23.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.10% of the stock is currently owned by company insiders.

Mastercard Price Performance

Shares of MA opened at $512.54 on Thursday. The business has a 50-day simple moving average of $505.90 and a two-hundred day simple moving average of $472.76. Mastercard Incorporated has a 12-month low of $404.32 and a 12-month high of $534.03. The stock has a market cap of $470.42 billion, a PE ratio of 38.77, a PEG ratio of 2.31 and a beta of 1.10. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 2.36.

Mastercard (NYSE:MA) last released its quarterly earnings data on Thursday, October 31st. The credit services provider reported $3.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.73 by $0.16. Mastercard had a return on equity of 178.27% and a net margin of 45.26%. The company had revenue of $7.37 billion during the quarter, compared to the consensus estimate of $7.27 billion. During the same quarter in the prior year, the firm posted $3.39 earnings per share. The firm’s revenue was up 12.8% compared to the same quarter last year. Analysts anticipate that Mastercard Incorporated will post 14.47 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th were issued a dividend of $0.66 per share. The ex-dividend date was Wednesday, October 9th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.52%. Mastercard’s dividend payout ratio (DPR) is presently 19.97%.

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.