Primecap Management Co. CA Boosts Holdings in Mastercard Incorporated $MA

Primecap Management Co. CA grew its stake in shares of Mastercard Incorporated (NYSE:MA) by 25.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 527,341 shares of the credit services provider’s stock after acquiring an additional 108,271 shares during the quarter. Primecap Management Co. CA’s holdings in Mastercard were worth $296,334,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. LGT Financial Advisors LLC purchased a new position in Mastercard during the second quarter worth approximately $25,000. Family Legacy Financial Solutions LLC purchased a new stake in shares of Mastercard during the 2nd quarter valued at $26,000. Flaharty Asset Management LLC acquired a new stake in shares of Mastercard during the 1st quarter worth $27,000. Keystone Global Partners LLC purchased a new position in shares of Mastercard in the 1st quarter worth $31,000. Finally, IMG Wealth Management Inc. purchased a new position in shares of Mastercard in the 2nd quarter worth $31,000. 97.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Mastercard news, CFO J. Mehra Sachin sold 17,263 shares of the company’s 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 sale, the chief financial officer owned 31,234 shares in the company, valued at $18,459,294. This represents a 35.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.09% of the company’s stock.

Mastercard Stock Down 1.7%

Shares of NYSE:MA opened at $527.63 on Wednesday. The company has a market capitalization of $473.81 billion, a price-to-earnings ratio of 35.58, a price-to-earnings-growth ratio of 2.27 and a beta of 0.92. The company has a 50 day moving average of $566.34 and a two-hundred day moving average of $569.80. Mastercard Incorporated has a 52-week low of $465.59 and a 52-week high of $601.77. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 2.41.

Mastercard (NYSE:MA) last released its quarterly earnings results on Thursday, October 30th. The credit services provider reported $4.38 earnings per share for the quarter, beating analysts’ consensus estimates of $4.31 by $0.07. Mastercard had a net margin of 44.93% and a return on equity of 200.01%. The business had revenue of $8.60 billion during the quarter, compared to analyst estimates of $8.53 billion. During the same period last year, the business earned $3.89 EPS. The business’s revenue was up 16.7% on a year-over-year basis. As a group, analysts forecast that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 7th. Shareholders of record on Thursday, October 9th were given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, October 9th. Mastercard’s dividend payout ratio is presently 19.44%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Wells Fargo & Company lowered their price target on Mastercard from $669.00 to $660.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Truist Financial decreased their target price on Mastercard from $638.00 to $630.00 and set a “buy” rating for the company in a report on Tuesday, November 4th. UBS Group increased their target price on shares of Mastercard from $690.00 to $700.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Wall Street Zen upgraded shares of Mastercard from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Finally, Robert W. Baird boosted their price objective on shares of Mastercard from $640.00 to $660.00 and gave the stock an “outperform” rating in a research note on Monday, October 6th. Four analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $652.50.

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.