Mastercard Incorporated (NYSE:MA) Stock Holdings Raised by SouthState Corp

SouthState Corp grew its holdings in Mastercard Incorporated (NYSE:MA) by 1.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 60,497 shares of the credit services provider’s stock after acquiring an additional 748 shares during the period. Mastercard comprises approximately 1.9% of SouthState Corp’s portfolio, making the stock its 8th biggest holding. SouthState Corp’s holdings in Mastercard were worth $26,689,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in MA. International Assets Investment Management LLC grew its position in Mastercard by 2.1% in the 4th quarter. International Assets Investment Management LLC now owns 6,885 shares of the credit services provider’s stock valued at $2,937,000 after acquiring an additional 141 shares during the last quarter. Gilbert & Cook Inc. raised its holdings in shares of Mastercard by 8.3% in the fourth quarter. Gilbert & Cook Inc. now owns 3,134 shares of the credit services provider’s stock valued at $1,337,000 after acquiring an additional 241 shares in the last quarter. Aveo Capital Partners LLC grew its holdings in Mastercard by 8.8% during the 4th quarter. Aveo Capital Partners LLC now owns 1,427 shares of the credit services provider’s stock worth $609,000 after acquiring an additional 116 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in shares of Mastercard by 19.5% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,319 shares of the credit services provider’s stock valued at $989,000 after purchasing an additional 378 shares in the last quarter. Finally, Gryphon Financial Partners LLC lifted its position in shares of Mastercard by 7.3% in the 4th quarter. Gryphon Financial Partners LLC now owns 8,431 shares of the credit services provider’s stock worth $3,565,000 after purchasing an additional 571 shares during the period. 97.28% of the stock is currently owned by hedge funds and other institutional investors.

Mastercard Stock Down 1.6 %

NYSE:MA traded down $7.87 during midday trading on Thursday, hitting $475.27. 684,067 shares of the company were exchanged, compared to its average volume of 2,437,476. The company has a fifty day simple moving average of $454.87 and a 200 day simple moving average of $459.41. The company has a market capitalization of $441.82 billion, a PE ratio of 38.41, a price-to-earnings-growth ratio of 1.90 and a beta of 1.10. Mastercard Incorporated has a fifty-two week low of $359.77 and a fifty-two week high of $490.00. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.95.

Mastercard Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Tuesday, July 9th were issued a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 0.56%. The ex-dividend date was Tuesday, July 9th. Mastercard’s payout ratio is 20.99%.

Insider Activity at Mastercard

In related news, insider Raj Seshadri sold 3,464 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $447.84, for a total value of $1,551,317.76. Following the completion of the sale, the insider now owns 13,736 shares in the company, valued at $6,151,530.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Foundation Mastercard sold 90,000 shares of Mastercard stock in a transaction dated 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 completion of the sale, the insider now directly owns 91,649,308 shares in the company, valued at $42,965,195,590.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Raj Seshadri sold 3,464 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $447.84, for a total transaction of $1,551,317.76. Following the completion of the transaction, the insider now directly owns 13,736 shares of the company’s stock, valued at approximately $6,151,530.24. The disclosure for this sale can be found here. Insiders sold a total of 1,282,931 shares of company stock worth $583,107,432 over the last 90 days. Company insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MA. William Blair raised Mastercard to a “strong-buy” rating in a research report on Wednesday, July 31st. BNP Paribas cut Mastercard from an “outperform” rating to a “neutral” rating and set a $470.00 price target for the company. in a research report on Tuesday. Evercore ISI decreased their price objective on shares of Mastercard from $540.00 to $525.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Compass Point began coverage on shares of Mastercard in a research note on Wednesday. They set a “neutral” rating and a $525.00 target price for the company. Finally, Citigroup raised their price target on shares of Mastercard from $528.00 to $538.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Five analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Mastercard has an average rating of “Moderate Buy” and a consensus target price of $510.88.

Mastercard Company 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.