Cornerstone Wealth Group LLC Buys 355 Shares of Mastercard Incorporated (NYSE:MA)

Cornerstone Wealth Group LLC raised its stake in Mastercard Incorporated (NYSE:MA) by 6.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,033 shares of the credit services provider’s stock after purchasing an additional 355 shares during the period. Cornerstone Wealth Group LLC’s holdings in Mastercard were worth $3,177,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Highline Wealth Partners LLC bought a new position in Mastercard in the third quarter worth $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Mastercard during the 2nd quarter valued at about $34,000. First Personal Financial Services bought a new stake in Mastercard in the third quarter valued at about $39,000. Lowe Wealth Advisors LLC raised its position in Mastercard by 74.0% in the third quarter. Lowe Wealth Advisors LLC now owns 87 shares of the credit services provider’s stock worth $43,000 after purchasing an additional 37 shares in the last quarter. Finally, FSA Wealth Management LLC acquired a new stake in Mastercard during the third quarter valued at approximately $54,000. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Piper Sandler raised their target price on Mastercard from $575.00 to $591.00 and gave the stock an “overweight” rating in a research report on Friday. UBS Group upped their target price on shares of Mastercard from $590.00 to $610.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. decreased their price objective on shares of Mastercard from $593.00 to $580.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Mizuho boosted their target price on Mastercard from $496.00 to $532.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Citigroup raised their price target on Mastercard from $572.00 to $584.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Mastercard has a consensus rating of “Moderate Buy” and a consensus target price of $567.29.

Mastercard Stock Down 0.1 %

Mastercard stock opened at $533.50 on Monday. The company has a fifty day simple moving average of $524.77 and a 200 day simple moving average of $497.46. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 2.36. Mastercard Incorporated has a 1-year low of $428.86 and a 1-year high of $537.70. The company has a market cap of $489.66 billion, a P/E ratio of 40.36, a price-to-earnings-growth ratio of 2.10 and a beta of 1.10.

Mastercard (NYSE:MA) last posted its quarterly earnings results on Thursday, October 31st. The credit services provider reported $3.89 earnings per share for the quarter, topping the consensus estimate of $3.73 by $0.16. Mastercard had a return on equity of 178.27% and a net margin of 45.26%. The firm had revenue of $7.37 billion for the quarter, compared to analyst estimates of $7.27 billion. During the same quarter in the previous year, the firm earned $3.39 EPS. The business’s quarterly revenue was up 12.8% on a year-over-year basis. Research analysts anticipate that Mastercard Incorporated will post 14.47 earnings per share for the current fiscal year.

Mastercard announced that its board has authorized a share repurchase plan on Tuesday, December 17th that allows the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization allows the credit services provider to buy up to 2.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Mastercard Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Thursday, January 9th will be given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.57%. This is a boost from Mastercard’s previous quarterly dividend of $0.66. The ex-dividend date is Friday, January 10th. Mastercard’s dividend payout ratio (DPR) is presently 23.00%.

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.