Corundum Group Inc. Purchases 1,347 Shares of Mastercard Incorporated (NYSE:MA)

Corundum Group Inc. raised its position in Mastercard Incorporated (NYSE:MA) by 85.9% in the 2nd quarter, Holdings Channel reports. The firm owned 2,916 shares of the credit services provider’s stock after buying an additional 1,347 shares during the quarter. Corundum Group Inc.’s holdings in Mastercard were worth $1,286,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in MA. Meadow Creek Wealth Advisors LLC raised its position in shares of Mastercard by 15.0% in the second quarter. Meadow Creek Wealth Advisors LLC now owns 1,056 shares of the credit services provider’s stock worth $466,000 after buying an additional 138 shares in the last quarter. James J. Burns & Company LLC increased its stake in Mastercard by 151.5% in the 2nd quarter. James J. Burns & Company LLC now owns 2,465 shares of the credit services provider’s stock worth $1,087,000 after acquiring an additional 1,485 shares during the last quarter. Provident Wealth Management LLC purchased a new stake in shares of Mastercard in the 2nd quarter valued at about $206,000. Leavell Investment Management Inc. boosted its position in shares of Mastercard by 1.7% during the 2nd quarter. Leavell Investment Management Inc. now owns 13,286 shares of the credit services provider’s stock valued at $5,861,000 after acquiring an additional 217 shares during the last quarter. Finally, Valued Wealth Advisors LLC grew its holdings in shares of Mastercard by 29.8% during the second quarter. Valued Wealth Advisors LLC now owns 122 shares of the credit services provider’s stock worth $54,000 after purchasing an additional 28 shares in the last quarter. 97.28% of the stock is currently owned by hedge funds and other institutional investors.

Mastercard Trading Up 1.9 %

Shares of NYSE:MA traded up $8.55 during midday trading on Thursday, hitting $468.71. 1,944,989 shares of the stock traded hands, compared to its average volume of 2,493,673. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 1.95. The business’s 50 day moving average is $448.19 and its two-hundred day moving average is $457.88. The stock has a market capitalization of $435.72 billion, a PE ratio of 37.26, a P/E/G ratio of 1.82 and a beta of 1.09. Mastercard Incorporated has a one year low of $359.77 and a one year high of $490.00.

Mastercard Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Tuesday, July 9th were given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date was Tuesday, July 9th. Mastercard’s payout ratio is 20.99%.

Insiders Place Their Bets

In other news, major shareholder Foundation Mastercard sold 138,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $453.19, for a total transaction of $62,540,220.00. Following the transaction, the insider now directly owns 92,152,308 shares of the company’s stock, valued at $41,762,504,462.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Mastercard news, CFO J. Mehra Sachin sold 13,439 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $455.00, for a total value of $6,114,745.00. Following the completion of the sale, the chief financial officer now directly owns 27,304 shares in the company, valued at $12,423,320. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Foundation Mastercard sold 138,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $453.19, for a total value of $62,540,220.00. Following the transaction, the insider now owns 92,152,308 shares in the company, valued at approximately $41,762,504,462.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,749,175 shares of company stock worth $786,543,836. 0.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of Mastercard from $510.00 to $500.00 and set an “overweight” rating on the stock in a research note on Thursday, July 18th. Susquehanna raised their price objective on shares of Mastercard from $535.00 to $540.00 and gave the company a “positive” rating in a research report on Thursday, August 1st. TD Cowen upped their target price on shares of Mastercard from $532.00 to $533.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Bank of America downgraded Mastercard from a “buy” rating to a “neutral” rating and lowered their price target for the company from $505.00 to $480.00 in a research report on Wednesday, July 10th. Finally, William Blair upgraded Mastercard to a “strong-buy” rating in a report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Mastercard currently has a consensus rating of “Buy” and a consensus price target of $508.91.

About Mastercard

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.