Triangle Securities Wealth Management Increases Stake in Mastercard Incorporated (NYSE:MA)

Posted by Max Byerly on Mar 19th, 2023

Triangle Securities Wealth Management increased its holdings in Mastercard Incorporated (NYSE:MA – Get Rating) by 2.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,410 shares of the credit services provider’s stock after acquiring an additional 37 shares during the period. Triangle Securities Wealth Management’s holdings in Mastercard were worth $490,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Mastercard by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 77,259,535 shares of the credit services provider’s stock valued at $21,967,977,000 after buying an additional 568,155 shares during the last quarter. State Street Corp raised its holdings in Mastercard by 0.4% during the 3rd quarter. State Street Corp now owns 33,865,057 shares of the credit services provider’s stock valued at $9,629,190,000 after buying an additional 138,753 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Mastercard by 13.0% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 26,909,008 shares of the credit services provider’s stock valued at $8,489,253,000 after buying an additional 3,102,135 shares during the last quarter. Jennison Associates LLC raised its holdings in Mastercard by 1.6% during the 3rd quarter. Jennison Associates LLC now owns 7,874,093 shares of the credit services provider’s stock valued at $2,238,920,000 after buying an additional 121,731 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in Mastercard by 2.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,870,234 shares of the credit services provider’s stock valued at $2,167,420,000 after buying an additional 137,324 shares during the last quarter. Hedge funds and other institutional investors own 74.51% of the company’s stock.

Mastercard Stock Performance

Shares of MA stock opened at $349.66 on Friday. Mastercard Incorporated has a one year low of $276.87 and a one year high of $390.00. The company’s 50-day moving average is $365.66 and its 200 day moving average is $340.41. The company has a market capitalization of $333.31 billion, a price-to-earnings ratio of 34.21, a price-to-earnings-growth ratio of 1.64 and a beta of 1.11. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.17 and a current ratio of 1.17.

Mastercard (NYSE:MA – Get Rating) last announced its quarterly earnings data on Thursday, January 26th. The credit services provider reported $2.65 EPS for the quarter, beating the consensus estimate of $2.56 by $0.09. Mastercard had a net margin of 44.65% and a return on equity of 158.38%. The company had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.79 billion. During the same period in the prior year, the firm posted $2.35 EPS. Mastercard’s revenue for the quarter was up 11.5% on a year-over-year basis. Sell-side analysts expect that Mastercard Incorporated will post 12.13 EPS for the current fiscal year.

Mastercard Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 9th. Investors of record on Friday, April 7th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Wednesday, April 5th. Mastercard’s dividend payout ratio (DPR) is 22.31%.

Analyst Ratings Changes

MA has been the subject of a number of recent analyst reports. Susquehanna upped their price target on shares of Mastercard from $405.00 to $433.00 and gave the company a “positive” rating in a report on Friday, January 27th. Redburn Partners initiated coverage on shares of Mastercard in a report on Tuesday, November 29th. They issued a “neutral” rating for the company. JPMorgan Chase & Co. upped their price objective on shares of Mastercard from $395.00 to $452.00 and gave the stock an “overweight” rating in a report on Friday, January 27th. BMO Capital Markets decreased their price objective on shares of Mastercard from $427.00 to $414.00 and set an “outperform” rating for the company in a report on Friday, January 27th. Finally, StockNews.com lowered shares of Mastercard from a “buy” rating to a “hold” rating in a report on Monday, March 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $413.41.

Insider Activity at Mastercard

In related news, insider Craig Vosburg sold 6,333 shares of the stock in a transaction dated Thursday, January 12th. The shares were sold at an average price of $380.05, for a total transaction of $2,406,856.65. Following the sale, the insider now directly owns 41,314 shares of the company’s stock, valued at approximately $15,701,385.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Craig Vosburg sold 6,333 shares of the firm’s stock in a transaction dated Thursday, January 12th. The shares were sold at an average price of $380.05, for a total transaction of $2,406,856.65. Following the sale, the insider now owns 41,314 shares of the company’s stock, valued at approximately $15,701,385.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Hai Ling sold 8,220 shares of the firm’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $356.31, for a total transaction of $2,928,868.20. Following the sale, the insider now directly owns 26,496 shares in the company, valued at approximately $9,440,789.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 655,522 shares of company stock valued at $242,724,561. 0.29% of the stock is owned by insiders.

About Mastercard

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Mastercard, Inc is a technology company, which engages in the payments industry that connects consumers, financial institutions, merchants, governments, and business. It offers payment solutions for the development and implementation of credit, debit, prepaid, commercial, and payment programs. The company was founded in November 1966 and is headquartered in Purchase, NY.