RNC Capital Management LLC Invests $206,000 in Mastercard Inc (NYSE:MA)

RNC Capital Management LLC purchased a new position in shares of Mastercard Inc (NYSE:MA) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 780 shares of the credit services provider’s stock, valued at approximately $206,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its position in shares of Mastercard by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,964,021 shares of the credit services provider’s stock valued at $559,150,000 after buying an additional 42,640 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Mastercard by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 12,431,997 shares of the credit services provider’s stock valued at $2,341,383,000 after buying an additional 416,095 shares during the last quarter. GYL Financial Synergies LLC purchased a new position in shares of Mastercard in the 4th quarter valued at $209,000. Prana Capital Management LP purchased a new position in Mastercard during the 4th quarter worth $9,153,000. Finally, Toroso Investments LLC purchased a new position in Mastercard during the 4th quarter worth $444,000. Institutional investors and hedge funds own 74.39% of the company’s stock.

Shares of NYSE:MA traded down $12.30 during midday trading on Monday, hitting $257.15. The stock had a trading volume of 3,506,860 shares, compared to its average volume of 3,002,015. The stock has a market cap of $275.25 billion, a P/E ratio of 39.62, a PEG ratio of 2.11 and a beta of 1.08. The company’s 50 day moving average price is $271.45. The company has a quick ratio of 1.41, a current ratio of 1.49 and a debt-to-equity ratio of 1.55. Mastercard Inc has a 1 year low of $171.89 and a 1 year high of $283.33.

Mastercard (NYSE:MA) last issued its earnings results on Tuesday, July 30th. The credit services provider reported $1.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.82 by $0.07. The business had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.08 billion. Mastercard had a net margin of 42.71% and a return on equity of 135.02%. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.66 earnings per share. Equities analysts forecast that Mastercard Inc will post 7.61 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Tuesday, July 9th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 0.51%. The ex-dividend date is Monday, July 8th. Mastercard’s payout ratio is 20.34%.

In related news, Director David R. Carlucci sold 3,974 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $262.51, for a total value of $1,043,214.74. Following the completion of the sale, the director now owns 54,438 shares in the company, valued at $14,290,519.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lance Darrell Gordon Uggla acquired 1,500 shares of Mastercard stock in a transaction that occurred on Thursday, August 1st. The stock was bought at an average price of $275.71 per share, with a total value of $413,565.00. Following the purchase, the director now directly owns 3,691 shares of the company’s stock, valued at $1,017,645.61. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 137,921 shares of company stock worth $37,322,422. Insiders own 3.70% of the company’s stock.

Several research analysts have issued reports on the stock. Deutsche Bank raised their price objective on shares of Mastercard from $267.00 to $330.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Oppenheimer raised their price objective on shares of Mastercard from $242.00 to $259.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 17th. UBS Group raised their price objective on shares of Mastercard from $300.00 to $312.00 and gave the stock a “buy” rating in a research report on Thursday. KeyCorp raised their price objective on shares of Mastercard from $230.00 to $265.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Finally, Barclays raised their price objective on shares of Mastercard from $310.00 to $319.00 and gave the stock an “overweight” rating in a research report on Monday. Two analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $287.65.

About Mastercard

Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers related products and services.

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Institutional Ownership by Quarter for Mastercard (NYSE:MA)

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