Kayne Anderson Rudnick Investment Management LLC Has $17.44 Million Stake in Mastercard Incorporated (NYSE:MA)

Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Mastercard Incorporated (NYSE:MA) by 15.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,540 shares of the credit services provider’s stock after buying an additional 5,160 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Mastercard were worth $17,444,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of MA. Swedbank AB acquired a new stake in shares of Mastercard during the first quarter worth approximately $660,652,000. PineStone Asset Management Inc. increased its holdings in shares of Mastercard by 145.6% during the second quarter. PineStone Asset Management Inc. now owns 1,777,468 shares of the credit services provider’s stock worth $784,148,000 after buying an additional 1,053,616 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Mastercard by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 75,253,734 shares of the credit services provider’s stock worth $32,096,470,000 after buying an additional 742,076 shares in the last quarter. Capital International Investors increased its holdings in shares of Mastercard by 3.3% during the fourth quarter. Capital International Investors now owns 21,041,685 shares of the credit services provider’s stock worth $8,974,478,000 after buying an additional 676,452 shares in the last quarter. Finally, Capital Research Global Investors increased its holdings in shares of Mastercard by 4.7% during the fourth quarter. Capital Research Global Investors now owns 13,608,023 shares of the credit services provider’s stock worth $5,803,956,000 after buying an additional 605,909 shares in the last quarter. Institutional investors and hedge funds own 97.28% of the company’s stock.

Mastercard Trading Down 0.1 %

Shares of NYSE MA opened at $492.74 on Friday. The company’s fifty day moving average is $466.24 and its 200-day moving average is $461.11. The stock has a market cap of $458.06 billion, a price-to-earnings ratio of 39.17, a P/E/G ratio of 1.92 and a beta of 1.10. Mastercard Incorporated has a twelve month low of $359.77 and a twelve month high of $501.80. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.95.

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

Mastercard Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Wednesday, October 9th will be given a $0.66 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $2.64 annualized dividend and a yield of 0.54%. Mastercard’s dividend payout ratio is currently 20.99%.

Insider Activity at Mastercard

In related news, major shareholder Foundation Mastercard sold 138,000 shares of the business’s stock in a transaction on 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 is available at this hyperlink. In related news, major shareholder Foundation Mastercard sold 138,000 shares of the business’s stock in a transaction on 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 is available at this hyperlink. Also, CFO J. Mehra Sachin sold 13,439 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $455.00, for a total transaction of $6,114,745.00. Following the sale, the chief financial officer now directly owns 27,304 shares in the company, valued at $12,423,320. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 605,124 shares of company stock valued at $280,045,189. 0.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

MA has been the subject of a number of research reports. Royal Bank of Canada raised their price target on shares of Mastercard from $500.00 to $526.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Piper Sandler raised 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. Citigroup raised their price target on shares of Mastercard from $528.00 to $538.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Susquehanna raised their price target on shares of Mastercard from $535.00 to $540.00 and gave the company a “positive” rating in a report on Thursday, August 1st. Finally, TD Cowen raised their price target on shares of Mastercard from $532.00 to $533.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Mastercard currently has a consensus rating of “Moderate Buy” and a consensus price target of $512.08.

Mastercard 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.