Kendall Capital Management Increases Stock Position in Mastercard Incorporated (NYSE:MA)

Kendall Capital Management grew its stake in shares of Mastercard Incorporated (NYSE:MA) by 0.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,101 shares of the credit services provider’s stock after acquiring an additional 50 shares during the quarter. Mastercard comprises about 0.9% of Kendall Capital Management’s investment portfolio, making the stock its 27th biggest holding. Kendall Capital Management’s holdings in Mastercard were worth $2,692,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Mastercard by 0.4% in the first quarter. Vanguard Group Inc. now owns 75,584,606 shares of the credit services provider’s stock worth $36,399,279,000 after buying an additional 330,872 shares during the last quarter. Capital International Investors lifted its holdings in Mastercard by 3.3% during the fourth quarter. Capital International Investors now owns 21,041,685 shares of the credit services provider’s stock valued at $8,974,478,000 after purchasing an additional 676,452 shares in the last quarter. Capital Research Global Investors lifted its holdings in Mastercard by 0.3% during the first quarter. Capital Research Global Investors now owns 13,651,904 shares of the credit services provider’s stock valued at $6,574,347,000 after purchasing an additional 43,881 shares in the last quarter. American Century Companies Inc. lifted its holdings in Mastercard by 0.9% during the second quarter. American Century Companies Inc. now owns 4,250,760 shares of the credit services provider’s stock valued at $1,875,266,000 after purchasing an additional 38,380 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in Mastercard by 7.1% during the first quarter. Canada Pension Plan Investment Board now owns 4,213,930 shares of the credit services provider’s stock valued at $2,029,302,000 after purchasing an additional 279,178 shares in the last quarter. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MA. Compass Point began coverage on shares of Mastercard in a report on Wednesday, September 4th. They set a “neutral” rating and a $525.00 price target on the stock. Barclays lifted their price target on shares of Mastercard from $530.00 to $536.00 and gave the company an “overweight” rating in a report on Monday, August 5th. BNP Paribas downgraded shares of Mastercard from an “outperform” rating to a “neutral” rating and set a $470.00 price target on the stock. in a report on Tuesday, September 3rd. Piper Sandler lifted their price target on shares of Mastercard from $531.00 to $536.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Susquehanna lifted their price objective on shares of Mastercard from $535.00 to $540.00 and gave the company a “positive” rating in a research report on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Mastercard presently has a consensus rating of “Moderate Buy” and a consensus target price of $512.08.

Mastercard Stock Down 1.2 %

Shares of MA opened at $494.76 on Thursday. The firm has a market capitalization of $459.94 billion, a P/E ratio of 39.33, a P/E/G ratio of 1.92 and a beta of 1.10. Mastercard Incorporated has a 12-month low of $359.77 and a 12-month high of $501.80. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.95. The firm has a fifty day moving average price of $464.06 and a 200-day moving average price of $460.76.

Mastercard (NYSE:MA) last issued its earnings results on Wednesday, July 31st. The credit services provider reported $3.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.51 by $0.08. The firm had revenue of $6.96 billion during the quarter, compared to analyst estimates of $6.85 billion. Mastercard had a net margin of 46.45% and a return on equity of 179.78%. Equities research analysts expect that Mastercard Incorporated will post 14.29 earnings per share for the current year.

Mastercard Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th will be paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend is Wednesday, October 9th. Mastercard’s dividend payout ratio is currently 20.99%.

Insider Activity

In related news, major shareholder Foundation Mastercard sold 131,000 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $459.46, for a total value of $60,189,260.00. Following the completion of the sale, the insider now directly owns 92,426,308 shares of the company’s stock, valued at $42,466,191,473.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Mastercard news, CMO Venkata R. Madabhushi sold 4,685 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $493.10, for a total transaction of $2,310,173.50. Following the completion of the sale, the chief marketing officer now directly owns 17,118 shares of the company’s stock, valued at $8,440,885.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Foundation Mastercard sold 131,000 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $459.46, for a total transaction of $60,189,260.00. Following the completion of the sale, the insider now owns 92,426,308 shares in the company, valued at $42,466,191,473.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 605,124 shares of company stock valued at $280,045,189. 0.10% of the stock is currently owned by company insiders.

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.