Wallace Capital Management Inc. Buys 200 Shares of Mastercard Incorporated (NYSE:MA)

Wallace Capital Management Inc. raised its stake in Mastercard Incorporated (NYSE:MA) by 8.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,550 shares of the credit services provider’s stock after buying an additional 200 shares during the period. Wallace Capital Management Inc.’s holdings in Mastercard were worth $1,125,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP acquired a new stake in shares of Mastercard during the 2nd quarter worth approximately $147,000. Invst LLC raised its holdings in shares of Mastercard by 14.0% during the second quarter. Invst LLC now owns 829 shares of the credit services provider’s stock valued at $363,000 after purchasing an additional 102 shares during the period. Sunbelt Securities Inc. boosted its position in shares of Mastercard by 1.1% during the 2nd quarter. Sunbelt Securities Inc. now owns 9,222 shares of the credit services provider’s stock worth $4,069,000 after purchasing an additional 99 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Mastercard by 19.3% in the 2nd quarter. NewEdge Advisors LLC now owns 61,447 shares of the credit services provider’s stock valued at $27,108,000 after buying an additional 9,922 shares during the period. Finally, Silver Lake Advisory LLC bought a new stake in Mastercard in the 2nd quarter valued at about $1,480,000. Institutional investors and hedge funds own 97.28% of the company’s stock.

Mastercard Stock Performance

Shares of MA stock opened at $493.64 on Monday. Mastercard Incorporated has a 12 month low of $359.77 and a 12 month high of $501.80. The stock has a market cap of $458.90 billion, a PE ratio of 39.24, a price-to-earnings-growth ratio of 1.96 and a beta of 1.10. The company’s fifty day moving average price is $470.79 and its 200-day moving average price is $461.76. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.95.

Mastercard (NYSE:MA) last released its quarterly earnings data on Wednesday, July 31st. The credit services provider reported $3.59 EPS for the quarter, beating the consensus estimate of $3.51 by $0.08. Mastercard had a return on equity of 179.78% and a net margin of 46.45%. The company had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $6.85 billion. On average, equities analysts expect that Mastercard Incorporated will post 14.29 EPS for the current fiscal year.

Mastercard Announces Dividend

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

Insider Activity at Mastercard

In other Mastercard news, CFO J. Mehra Sachin sold 13,439 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $455.00, for a total value of $6,114,745.00. Following the transaction, the chief financial officer now owns 27,304 shares of the company’s stock, valued at $12,423,320. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CFO J. Mehra Sachin sold 13,439 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $455.00, for a total transaction of $6,114,745.00. Following the completion of the sale, the chief financial officer now owns 27,304 shares of the company’s stock, valued at approximately $12,423,320. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Foundation Mastercard sold 109,000 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $467.45, for a total value of $50,952,050.00. Following the completion of the transaction, the insider now directly owns 91,924,308 shares in the company, valued at $42,970,017,774.60. The disclosure for this sale can be found here. Insiders have sold a total of 340,809 shares of company stock worth $159,610,703 over the last quarter. Company insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

MA has been the subject of a number of research reports. Piper Sandler raised their price objective on Mastercard from $531.00 to $536.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Compass Point assumed coverage on shares of Mastercard in a report on Wednesday, September 4th. They set a “neutral” rating and a $525.00 price objective for the company. BNP Paribas downgraded Mastercard from an “outperform” rating to a “neutral” rating and set a $470.00 price target for the company. in a report on Tuesday, September 3rd. Royal Bank of Canada raised their price objective on Mastercard from $500.00 to $526.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $520.00 target price on shares of Mastercard in a report on Wednesday, August 14th. Five analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $513.70.

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.