Korea Investment CORP Cuts Stake in Mastercard Incorporated $MA

by · The Markets Daily

Korea Investment CORP cut its stake in shares of Mastercard Incorporated (NYSE:MA – Free Report) by 2.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 630,636 shares of the credit services provider’s stock after selling 16,322 shares during the quarter. Mastercard comprises approximately 0.8% of Korea Investment CORP’s portfolio, making the stock its 18th biggest position. Korea Investment CORP owned approximately 0.07% of Mastercard worth $345,664,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of MA. Vanguard Group Inc. boosted its position in shares of Mastercard by 0.5% during the first quarter. Vanguard Group Inc. now owns 77,544,675 shares of the credit services provider’s stock valued at $42,503,787,000 after buying an additional 365,537 shares during the last quarter. Northern Trust Corp boosted its position in shares of Mastercard by 15.2% during the fourth quarter. Northern Trust Corp now owns 9,149,181 shares of the credit services provider’s stock valued at $4,817,684,000 after buying an additional 1,207,787 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Mastercard by 65,631.5% during the first quarter. GAMMA Investing LLC now owns 8,225,637 shares of the credit services provider’s stock valued at $4,508,636,000 after buying an additional 8,213,123 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Mastercard during the first quarter valued at $4,238,764,000. Finally, Nuveen Asset Management LLC boosted its position in shares of Mastercard by 1.0% during the fourth quarter. Nuveen Asset Management LLC now owns 7,610,333 shares of the credit services provider’s stock valued at $4,007,373,000 after buying an additional 71,874 shares during the last quarter. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Mastercard in a research report on Friday, August 1st. KeyCorp increased their price objective on Mastercard from $635.00 to $660.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Seaport Res Ptn raised Mastercard from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 14th. Truist Financial lowered their target price on Mastercard from $640.00 to $612.00 and set a “buy” rating on the stock in a report on Thursday, July 17th. Finally, TD Cowen reissued a “buy” rating and issued a $645.00 target price on shares of Mastercard in a report on Monday, August 11th. Five equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Mastercard has a consensus rating of “Moderate Buy” and a consensus target price of $617.93.

Get Our Latest Stock Report on MA

Mastercard Stock Down 0.3%

NYSE MA opened at $582.06 on Monday. The stock’s 50-day moving average price is $563.30 and its 200-day moving average price is $554.61. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 2.41. Mastercard Incorporated has a 52 week low of $461.90 and a 52 week high of $594.71. The company has a market capitalization of $526.19 billion, a P/E ratio of 39.25, a price-to-earnings-growth ratio of 2.39 and a beta of 1.03.

Mastercard (NYSE:MA – Get Free Report) last issued its earnings results on Thursday, July 31st. The credit services provider reported $4.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.05 by $0.10. The company had revenue of $8.13 billion for the quarter, compared to the consensus estimate of $7.95 billion. Mastercard had a return on equity of 200.01% and a net margin of 44.93%. The firm’s quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter last year, the company earned $3.50 EPS. On average, equities research analysts predict that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Wednesday, July 9th were paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Wednesday, July 9th. Mastercard’s dividend payout ratio (DPR) is 20.50%.

Insiders Place Their Bets

In other Mastercard news, insider Craig Vosburg sold 9,428 shares of the firm’s stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $353.05, for a total transaction of $3,328,555.40. Following the completion of the transaction, the insider owned 58,451 shares in the company, valued at $20,636,125.55. This trade represents a 13.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Raj Seshadri sold 1,100 shares of the firm’s stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $546.77, for a total value of $601,447.00. Following the transaction, the insider owned 12,921 shares of the company’s stock, valued at $7,064,815.17. This represents a 7.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,453 shares of company stock worth $20,178,667 over the last quarter. Company insiders own 0.09% of the company’s stock.

Mastercard Company Profile

(Free Report)

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.

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