Mastercard Incorporated (NYSE:MA) Shares Purchased by SouthState Corp

SouthState Corp grew its stake in shares of Mastercard Incorporated (NYSE:MA) by 1.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 60,497 shares of the credit services provider’s stock after purchasing an additional 748 shares during the quarter. Mastercard comprises about 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 filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Altshuler Shaham Ltd acquired a new stake in Mastercard during the 4th quarter worth approximately $26,000. VitalStone Financial LLC increased its holdings in shares of Mastercard by 300.0% during the fourth quarter. VitalStone Financial LLC now owns 60 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 45 shares during the period. Westend Capital Management LLC acquired a new stake in shares of Mastercard in the first quarter valued at approximately $27,000. Palisade Asset Management LLC acquired a new stake in Mastercard during the first quarter worth approximately $27,000. Finally, Scarborough Advisors LLC bought a new position in Mastercard during the 4th quarter worth $28,000. Institutional investors own 97.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on MA shares. Piper Sandler raised their target price on shares of Mastercard from $531.00 to $536.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Susquehanna boosted their price target on Mastercard from $535.00 to $540.00 and gave the stock a “positive” rating in a report on Thursday, August 1st. TD Cowen lifted 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. Evercore ISI reduced their target price on Mastercard from $540.00 to $525.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Finally, KeyCorp raised their price objective on shares of Mastercard from $490.00 to $515.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $510.88.

Mastercard Trading Down 1.6 %

NYSE:MA traded down $7.87 during trading hours on Thursday, hitting $475.27. The company had a trading volume of 684,067 shares, compared to its average volume of 2,437,476. The stock has a 50-day moving average price of $454.87 and a 200 day moving average price 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. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.14 and a quick ratio of 1.14. Mastercard Incorporated has a 52 week low of $359.77 and a 52 week high of $490.00.

Mastercard Announces Dividend

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

Insider Buying and Selling

In other Mastercard news, insider Craig Vosburg sold 9,028 shares of Mastercard stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $451.06, for a total transaction of $4,072,169.68. Following the completion of the transaction, the insider now owns 58,940 shares in the company, valued at $26,585,476.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Craig Vosburg sold 9,028 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $451.06, for a total transaction of $4,072,169.68. Following the transaction, the insider now directly owns 58,940 shares of the company’s stock, valued at $26,585,476.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO J. Mehra Sachin sold 13,439 shares of Mastercard stock in a transaction dated Monday, August 5th. The stock was 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 owns 27,304 shares of the company’s stock, valued at $12,423,320. The disclosure for this sale can be found here. Insiders have sold a total of 1,282,931 shares of company stock valued at $583,107,432 over the last ninety days. Company insiders own 0.10% of the company’s stock.

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.