Davis Asset Management L.P. acquired a new stake in shares of Mastercard Incorporated (NYSE:MA – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 102,000 shares of the credit services provider’s stock, valued at approximately $52,387,000. Mastercard makes up about 1.3% of Davis Asset Management L.P.’s portfolio, making the stock its 26th biggest position.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Riggs Asset Managment Co. Inc. raised its holdings in shares of Mastercard by 20.0% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 108 shares of the credit services provider’s stock valued at $61,000 after purchasing an additional 18 shares in the last quarter. Castle Rock Wealth Management LLC increased its position in Mastercard by 2.8% during the fourth quarter. Castle Rock Wealth Management LLC now owns 695 shares of the credit services provider’s stock worth $387,000 after buying an additional 19 shares during the last quarter. Athena Wealth Management LLC raised its holdings in Mastercard by 3.8% during the second quarter. Athena Wealth Management LLC now owns 514 shares of the credit services provider’s stock valued at $264,000 after buying an additional 19 shares in the last quarter. Novem Group lifted its position in shares of Mastercard by 0.4% in the second quarter. Novem Group now owns 4,680 shares of the credit services provider’s stock worth $2,404,000 after buying an additional 19 shares during the last quarter. Finally, Vista Capital Partners Inc. boosted its stake in shares of Mastercard by 4.5% during the 2nd quarter. Vista Capital Partners Inc. now owns 444 shares of the credit services provider’s stock worth $228,000 after acquiring an additional 19 shares in the last quarter. 97.28% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Mastercard
In related news, insider Raj Seshadri sold 4,828 shares of Mastercard stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $525.00, for a total transaction of $2,534,700.00. Following the completion of the transaction, the insider directly owned 16,429 shares of the company’s stock, valued at $8,625,225. This trade represents a 22.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sandra A. Arkell sold 200 shares of Mastercard stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $540.00, for a total transaction of $108,000.00. Following the transaction, the insider directly owned 3,322 shares of the company’s stock, valued at $1,793,880. This represents a 5.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 71,357 shares of company stock valued at $40,637,262. Insiders own 0.09% of the company’s stock.
Mastercard Price Performance
Mastercard (NYSE:MA – Get Free Report) last released its earnings results on Thursday, July 30th. The credit services provider reported $5.04 earnings per share for the quarter, topping analysts’ consensus estimates of $4.77 by $0.27. Mastercard had a return on equity of 239.99% and a net margin of 46.34%.The business had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.08 billion. During the same period last year, the business earned $4.15 earnings per share. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. Analysts anticipate that Mastercard Incorporated will post 19.86 earnings per share for the current year.
Mastercard Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Thursday, July 9th were paid a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 0.6%. The ex-dividend date was Thursday, July 9th. Mastercard’s dividend payout ratio is currently 19.14%.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on MA shares. Robert W. Baird raised their price objective on Mastercard from $660.00 to $680.00 and gave the company an “outperform” rating in a research note on Tuesday, July 7th. Morgan Stanley increased their price target on Mastercard from $679.00 to $681.00 and gave the company an “overweight” rating in a report on Friday, July 31st. KeyCorp lifted their price target on shares of Mastercard from $670.00 to $680.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Raymond James Financial restated an “outperform” rating and issued a $632.00 price objective on shares of Mastercard in a research note on Friday, July 31st. Finally, Barclays upped their price objective on shares of Mastercard from $640.00 to $660.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Five analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Mastercard has an average rating of “Buy” and a consensus price target of $664.71.
Check Out Our Latest Analysis on Mastercard
Mastercard Profile
Mastercard Incorporated is a global payments technology company that operates a network connecting consumers, financial institutions, merchants, governments and businesses in more than 200 countries and territories. The company facilitates electronic payments and transaction processing for credit, debit and prepaid card products carrying the Mastercard brand, while also providing a range of payment-related services to issuers, acquirers and merchants. Its technology and network enable authorization, clearing and settlement of payments and support a broad set of use cases including point-of-sale, e-commerce and mobile payments.
Beyond core transaction processing, Mastercard offers a suite of value-added services such as fraud and risk management, identity and authentication tools, tokenization and digital wallet support, cross-border and commercial payment solutions, and data analytics and consulting services for merchants and financial partners.
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