Jacobi Capital Management LLC Grows Stake in Mastercard Incorporated $MA

Jacobi Capital Management LLC lifted its position in Mastercard Incorporated (NYSE:MA) by 15.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,329 shares of the credit services provider’s stock after purchasing an additional 1,138 shares during the quarter. Jacobi Capital Management LLC’s holdings in Mastercard were worth $4,278,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in MA. Brighton Jones LLC grew its position in Mastercard by 42.3% during the fourth quarter. Brighton Jones LLC now owns 6,824 shares of the credit services provider’s stock worth $3,594,000 after buying an additional 2,028 shares in the last quarter. Schnieders Capital Management LLC. boosted its position in shares of Mastercard by 8.5% during the 2nd quarter. Schnieders Capital Management LLC. now owns 2,548 shares of the credit services provider’s stock valued at $1,432,000 after acquiring an additional 200 shares during the last quarter. Betterment LLC boosted its position in shares of Mastercard by 6.5% during the 2nd quarter. Betterment LLC now owns 947 shares of the credit services provider’s stock valued at $532,000 after acquiring an additional 58 shares during the last quarter. Worldquant Millennium Advisors LLC boosted its position in shares of Mastercard by 35.8% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 677,204 shares of the credit services provider’s stock valued at $380,548,000 after acquiring an additional 178,387 shares during the last quarter. Finally, Darwin Wealth Management LLC purchased a new position in shares of Mastercard during the second quarter worth about $431,000. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Mastercard Stock Performance

NYSE:MA opened at $599.69 on Tuesday. The business has a 50 day moving average of $540.98 and a 200 day moving average of $518.14. The company has a market capitalization of $525.34 billion, a price-to-earnings ratio of 32.99, a PEG ratio of 1.74 and a beta of 0.71. Mastercard Incorporated has a 1-year low of $464.52 and a 1-year high of $601.62. The company has a debt-to-equity ratio of 3.96, a current ratio of 1.06 and a quick ratio of 1.06.

Mastercard (NYSE:MA) last issued its earnings results on Thursday, July 30th. The credit services provider reported $5.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.77 by $0.27. The business had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.08 billion. Mastercard had a return on equity of 239.99% and a net margin of 46.34%.Mastercard’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.15 earnings per share. On average, sell-side analysts predict that Mastercard Incorporated will post 19.86 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Thursday, July 9th were given a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Thursday, July 9th. Mastercard’s dividend payout ratio (DPR) is presently 19.14%.

Insiders Place Their Bets

In other news, insider Raj Seshadri sold 1,977 shares of the business’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $529.73, for a total value of $1,047,276.21. Following the completion of the sale, the insider owned 16,429 shares of the company’s stock, valued at approximately $8,702,934.17. The trade was a 10.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sandra A. Arkell sold 200 shares of the stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $540.00, for a total value of $108,000.00. Following the sale, the insider owned 3,322 shares of the company’s stock, valued at $1,793,880. This represents a 5.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 71,357 shares of company stock valued at $40,637,262 over the last three months. 0.09% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MA shares. Wall Street Zen downgraded shares of Mastercard from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Piper Sandler initiated coverage on shares of Mastercard in a research note on Monday, June 29th. They issued an “overweight” rating and a $597.00 price target for the company. Robert W. Baird increased their price target on shares of Mastercard from $660.00 to $680.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Raymond James Financial restated an “outperform” rating and set a $632.00 price objective on shares of Mastercard in a research report on Friday, July 31st. Finally, KeyCorp lifted their price objective on shares of Mastercard from $670.00 to $680.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Mastercard has a consensus rating of “Buy” and a consensus target price of $661.93.

About Mastercard

Mastercard Incorporated is a global payments technology company that operates a network connecting consumers, financial institutions, merchants, governments and businesses in more than 200 countries and territories. The company facilitates electronic payments and transaction processing for credit, debit and prepaid card products carrying the Mastercard brand, while also providing a range of payment-related services to issuers, acquirers and merchants. Its technology and network enable authorization, clearing and settlement of payments and support a broad set of use cases including point-of-sale, e-commerce and mobile payments.

Beyond core transaction processing, Mastercard offers a suite of value-added services such as fraud and risk management, identity and authentication tools, tokenization and digital wallet support, cross-border and commercial payment solutions, and data analytics and consulting services for merchants and financial partners.