Mastercard Incorporated (NYSE:MA) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. decreased its holdings in Mastercard Incorporated (NYSE:MA) by 30.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,187 shares of the credit services provider’s stock after selling 1,390 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Mastercard were worth $1,574,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Goldstein Advisors LLC increased its position in Mastercard by 1.3% in the 3rd quarter. Goldstein Advisors LLC now owns 1,516 shares of the credit services provider’s stock valued at $749,000 after acquiring an additional 20 shares in the last quarter. McLean Asset Management Corp increased its holdings in shares of Mastercard by 1.3% in the third quarter. McLean Asset Management Corp now owns 1,677 shares of the credit services provider’s stock valued at $834,000 after purchasing an additional 21 shares in the last quarter. Oldfather Financial Services LLC raised its position in Mastercard by 2.6% in the 3rd quarter. Oldfather Financial Services LLC now owns 827 shares of the credit services provider’s stock worth $408,000 after purchasing an additional 21 shares during the last quarter. Transcendent Capital Group LLC lifted its holdings in Mastercard by 4.8% during the 3rd quarter. Transcendent Capital Group LLC now owns 455 shares of the credit services provider’s stock worth $225,000 after buying an additional 21 shares in the last quarter. Finally, Guerra Pan Advisors LLC increased its stake in shares of Mastercard by 1.7% in the 3rd quarter. Guerra Pan Advisors LLC now owns 1,225 shares of the credit services provider’s stock valued at $605,000 after buying an additional 21 shares during the period. Institutional investors and hedge funds own 97.28% of the company’s stock.

Mastercard Price Performance

Shares of MA stock opened at $520.40 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 2.36. The company has a market cap of $477.64 billion, a P/E ratio of 39.36, a P/E/G ratio of 2.28 and a beta of 1.10. Mastercard Incorporated has a twelve month low of $394.76 and a twelve month high of $534.03. The business has a fifty day simple moving average of $502.32 and a 200 day simple moving average of $470.24.

Mastercard (NYSE:MA) last released its earnings results on Thursday, October 31st. The credit services provider reported $3.89 earnings per share for the quarter, beating analysts’ consensus estimates of $3.73 by $0.16. Mastercard had a net margin of 45.26% and a return on equity of 178.27%. The business had revenue of $7.37 billion during the quarter, compared to the consensus estimate of $7.27 billion. During the same quarter in the prior year, the firm posted $3.39 EPS. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, sell-side analysts forecast that Mastercard Incorporated will post 14.45 EPS for the current fiscal year.

Mastercard Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Wednesday, October 9th were given a dividend of $0.66 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.51%. Mastercard’s payout ratio is presently 19.97%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $575.00 target price (up previously from $565.00) on shares of Mastercard in a research note on Friday. William Blair upgraded Mastercard to a “strong-buy” rating in a research report on Wednesday, July 31st. TD Cowen upped their price objective on Mastercard from $532.00 to $533.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Compass Point assumed coverage on Mastercard in a report on Wednesday, September 4th. They set a “neutral” rating and a $525.00 target price on the stock. Finally, Susquehanna upped their price target on Mastercard from $540.00 to $605.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Four research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $547.80.

Insiders Place Their Bets

In other Mastercard news, major shareholder Foundation Mastercard sold 90,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $468.80, for a total transaction of $42,192,000.00. Following the transaction, the insider now owns 91,649,308 shares in the company, valued at approximately $42,965,195,590.40. This represents a 0.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CMO Venkata R. Madabhushi sold 4,685 shares of Mastercard stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $493.10, for a total transaction of $2,310,173.50. Following the transaction, the chief marketing officer now owns 17,118 shares of the company’s stock, valued at $8,440,885.80. This represents a 21.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 208,370 shares of company stock worth $97,749,218. 0.10% of the stock is currently owned by company insiders.

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.