Geode Capital Management LLC Buys 542,841 Shares of Mastercard Incorporated $MA

Geode Capital Management LLC boosted its position in shares of Mastercard Incorporated (NYSE:MA) by 2.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,760,552 shares of the credit services provider’s stock after buying an additional 542,841 shares during the period. Mastercard makes up about 0.8% of Geode Capital Management LLC’s portfolio, making the stock its 15th biggest holding. Geode Capital Management LLC’s holdings in Mastercard were worth $11,062,509,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MA. LGT Financial Advisors LLC purchased a new stake in Mastercard during the 2nd quarter valued at $25,000. Family Legacy Financial Solutions LLC bought a new stake in Mastercard in the second quarter worth about $26,000. Flaharty Asset Management LLC bought a new position in shares of Mastercard during the first quarter valued at approximately $27,000. Keystone Global Partners LLC purchased a new stake in shares of Mastercard in the first quarter worth approximately $31,000. Finally, IMG Wealth Management Inc. purchased a new position in Mastercard during the 2nd quarter valued at $31,000. Institutional investors own 97.28% of the company’s stock.

Mastercard Trading Up 0.9%

NYSE MA opened at $557.93 on Wednesday. The company has a fifty day simple moving average of $570.69 and a two-hundred day simple moving average of $569.80. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 2.41. The stock has a market cap of $504.38 billion, a P/E ratio of 37.62, a P/E/G ratio of 2.27 and a beta of 0.92. Mastercard Incorporated has a 12-month low of $465.59 and a 12-month high of $601.77.

Mastercard (NYSE:MA) last announced its quarterly earnings data on Thursday, October 30th. The credit services provider reported $4.38 EPS for the quarter, beating the consensus estimate of $4.31 by $0.07. The business had revenue of $8.60 billion during the quarter, compared to analysts’ expectations of $8.53 billion. Mastercard had a net margin of 44.93% and a return on equity of 200.01%. The business’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same period in the previous year, the business posted $3.89 EPS. On average, analysts forecast that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 7th. Shareholders of record on Thursday, October 9th were given a dividend of $0.76 per share. The ex-dividend date was Thursday, October 9th. This represents a $3.04 dividend on an annualized basis and a yield of 0.5%. Mastercard’s dividend payout ratio is currently 19.44%.

Analysts Set New Price Targets

MA has been the topic of a number of research analyst reports. Morgan Stanley set a $665.00 price target on shares of Mastercard and gave the stock an “overweight” rating in a report on Friday, October 31st. Truist Financial decreased their price target on shares of Mastercard from $638.00 to $630.00 and set a “buy” rating for the company in a research note on Tuesday, November 4th. Citigroup upgraded Mastercard to a “strong-buy” rating in a report on Thursday, October 23rd. UBS Group increased their price target on Mastercard from $690.00 to $700.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Finally, KeyCorp restated an “overweight” rating and issued a $665.00 price objective on shares of Mastercard in a report on Wednesday, October 22nd. Four analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $649.26.

Insider Transactions at Mastercard

In other Mastercard news, CFO J. Mehra Sachin sold 17,263 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $591.00, for a total transaction of $10,202,433.00. Following the completion of the transaction, the chief financial officer owned 31,234 shares of the company’s stock, valued at $18,459,294. This represents a 35.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.09% of the company’s stock.

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.