Pinnacle Associates Ltd. has decreased its stake in Mastercard Incorporated (NYSE: MA) by 1.2% during the second quarter of 2023. According to HoldingsChannel.com, the institutional investor owned 40,857 shares after selling 496 shares during this period. As of the end of June, Pinnacle’s holdings in Mastercard were valued at approximately $22.96 million.
Several other institutional investors and hedge funds have also made adjustments to their positions in Mastercard. ORG Partners LLC raised its stake by an impressive 73.2% in the second quarter, now owning 698 shares valued at $394,000 after acquiring an additional 295 shares. Ethos Financial Group LLC increased its holdings by 19.5% during the first quarter, bringing its total to 3,174 shares valued at $1.68 million after adding 518 shares.
Curio Wealth LLC made a significant increase, lifting its stake by 22,400.0% in the second quarter, resulting in ownership of 225 shares worth $126,000. Additionally, Wheelhouse Advisory Group LLC boosted its stake by 4.4%, owning 1,336 shares valued at $751,000, while SeaBridge Investment Advisors LLC increased its holdings by 4.3%, now owning 6,463 shares worth $3.63 million. Collectively, institutional investors and hedge funds own 97.28% of Mastercard’s stock.
Insider Transactions and Stock Performance
In related news, Mastercard’s Chief Financial Officer, J. Mehra Sachin, sold 17,816 shares on August 19, 2023, at an average price of $586.89, totaling $10,456,032.24. Following this transaction, Sachin’s remaining shares are valued at approximately $18.33 million, representing a 36.32% decrease in his holdings. This transaction was disclosed in a filing with the U.S. Securities and Exchange Commission (SEC).
Currently, shares of Mastercard opened at $554.26. The stock’s 50-day moving average stands at $577.34, while its 200-day moving average is $567.43. The company has a debt-to-equity ratio of 2.41 and a current ratio of 1.16. Over the past year, Mastercard’s stock has seen a low of $465.59 and a high of $601.77. With a market capitalization of $501.05 billion, the company has a price-to-earnings ratio of 37.37.
Quarterly Earnings and Dividend Announcement
Mastercard recently reported its quarterly earnings on October 30, 2023, revealing earnings per share of $4.38, which exceeded the consensus estimate of $4.31 by $0.07. The company achieved a return on equity of 200.01% and a net margin of 44.93%. Revenue for the quarter reached $8.60 billion, surpassing estimates of $8.53 billion and reflecting a 16.7% year-over-year increase.
Mastercard also announced a quarterly dividend scheduled for payment on November 7, 2023. Shareholders of record as of October 9, 2023, will receive a dividend of $0.76. This dividend represents an annualized payout of $3.04, resulting in a dividend yield of 0.5%. Currently, the company’s dividend payout ratio is 20.50%.
Mastercard Incorporated, a global leader in payment technology, continues to provide transaction processing and payment-related services to a diverse range of clients, including consumers, merchants, financial institutions, and governments. The company’s focus on innovation and comprehensive services positions it well in the competitive landscape of financial technology.
