Engineers Gate Manager LP lifted its holdings in shares of Mastercard Incorporated (NYSE:MA – Free Report) by 18.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 171,347 shares of the credit services provider’s stock after buying an additional 26,324 shares during the period. Mastercard comprises 1.1% of Engineers Gate Manager LP’s holdings, making the stock its 5th largest position. Engineers Gate Manager LP’s holdings in Mastercard were worth $88,004,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. California State Teachers Retirement System raised its stake in shares of Mastercard by 49,444.6% during the 2nd quarter. California State Teachers Retirement System now owns 637,466,453 shares of the credit services provider’s stock worth $327,402,770,000 after purchasing an additional 636,179,801 shares in the last quarter. J. Stern & Co. LLP grew its stake in shares of Mastercard by 53,535.0% in the fourth quarter. J. Stern & Co. LLP now owns 72,597,097 shares of the credit services provider’s stock valued at $41,444,231,000 after buying an additional 72,461,743 shares in the last quarter. State Street Corp grew its stake in shares of Mastercard by 2.8% in the third quarter. State Street Corp now owns 36,580,374 shares of the credit services provider’s stock valued at $20,807,283,000 after buying an additional 997,536 shares in the last quarter. Geode Capital Management LLC increased its holdings in Mastercard by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 20,686,605 shares of the credit services provider’s stock worth $11,773,153,000 after buying an additional 349,369 shares during the last quarter. Finally, Capital International Investors increased its holdings in Mastercard by 4.4% during the fourth quarter. Capital International Investors now owns 17,964,658 shares of the credit services provider’s stock worth $10,256,368,000 after buying an additional 759,584 shares during the last quarter. Institutional investors own 97.28% of the company’s stock.
Analyst Ratings Changes
A number of analysts have commented on MA shares. Clear Str upgraded shares of Mastercard to a “strong-buy” rating in a research note on Thursday, July 16th. UBS Group raised their target price on shares of Mastercard from $640.00 to $670.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Loop Capital reaffirmed a “buy” rating and issued a $631.00 price objective on shares of Mastercard in a report on Wednesday, June 3rd. Truist Financial increased their price target on Mastercard from $554.00 to $633.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Finally, Royal Bank Of Canada raised their target price on shares of Mastercard from $642.00 to $696.00 and gave the company an “outperform” rating in a research report on Monday, August 31st. Five investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $666.64.
Insider Activity
In other Mastercard news, insider Linda Kirkpatrick sold 4,280 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $570.31, for a total value of $2,440,926.80. Following the transaction, the insider directly owned 31,179 shares of the company’s stock, valued at approximately $17,781,695.49. The trade was a 12.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Miebach sold 15,372 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $575.00, for a total value of $8,838,900.00. Following the sale, the chief executive officer owned 93,693 shares of the company’s stock, valued at approximately $53,873,475. This represents a 14.09% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 74,623 shares of company stock worth $42,544,606. 0.09% of the stock is owned by insiders.
Mastercard Stock Performance
Shares of MA stock opened at $570.35 on Wednesday. The stock has a market capitalization of $499.63 billion, a PE ratio of 31.37, a PEG ratio of 1.66 and a beta of 0.74. The business’s 50 day simple moving average is $561.02 and its 200 day simple moving average is $522.20. The company has a debt-to-equity ratio of 3.96, a current ratio of 1.06 and a quick ratio of 1.06. Mastercard Incorporated has a one year low of $464.52 and a one year high of $601.62.
Mastercard (NYSE:MA – Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The credit services provider reported $5.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.77 by $0.27. Mastercard had a net margin of 46.34% and a return on equity of 239.99%. The firm had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.08 billion. During the same quarter last year, the business earned $4.15 EPS. The company’s revenue was up 14.1% compared to the same quarter last year. As a group, research analysts forecast that Mastercard Incorporated will post 19.86 earnings per share for the current year.
Mastercard Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Thursday, July 9th were given a dividend of $0.87 per share. The ex-dividend date of this dividend was Thursday, July 9th. This represents a $3.48 dividend on an annualized basis and a yield of 0.6%. Mastercard’s dividend payout ratio is 19.14%.
About Mastercard
Mastercard Incorporated (NYSE: MA) is a global technology company that operates a payments network connecting consumers, financial institutions, merchants, governments and businesses. The company facilitates electronic payment transactions, including credit, debit, prepaid and commercial payments, by providing the infrastructure used to authorize, clear and settle transactions.
Mastercard’s products and services include its Mastercard-branded payment cards, digital payment tools, contactless payment technology and payment solutions for businesses and governments.
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