Bowen Hanes & Co. Inc. Has $14.44 Million Stake in Mastercard Incorporated $MA

Bowen Hanes & Co. Inc. lifted its holdings in shares of Mastercard Incorporated (NYSE:MA) by 7.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,350 shares of the credit services provider’s stock after purchasing an additional 1,885 shares during the quarter. Bowen Hanes & Co. Inc.’s holdings in Mastercard were worth $14,443,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of MA. GAMMA Investing LLC increased its position in shares of Mastercard by 65,631.5% during the first quarter. GAMMA Investing LLC now owns 8,225,637 shares of the credit services provider’s stock valued at $4,508,636,000 after acquiring an additional 8,213,123 shares during the last quarter. Nuveen LLC bought a new stake in Mastercard during the first quarter worth about $4,238,764,000. Wellington Management Group LLP increased its holdings in shares of Mastercard by 38.6% in the first quarter. Wellington Management Group LLP now owns 13,526,118 shares of the credit services provider’s stock worth $7,413,936,000 after buying an additional 3,765,378 shares during the period. Northern Trust Corp increased its holdings in Mastercard by 15.2% during the 4th quarter. Northern Trust Corp now owns 9,149,181 shares of the credit services provider’s stock valued at $4,817,684,000 after purchasing an additional 1,207,787 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Mastercard during the 4th quarter valued at approximately $561,313,000. Institutional investors and hedge funds own 97.28% of the company’s stock.

Mastercard Trading Up 0.5%

Shares of Mastercard stock opened at $584.38 on Tuesday. Mastercard Incorporated has a 1 year low of $461.90 and a 1 year high of $594.71. 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 company’s fifty day simple moving average is $563.30 and its 200-day simple moving average is $554.81. The company has a market cap of $528.28 billion, a price-to-earnings ratio of 39.41, a PEG ratio of 2.39 and a beta of 1.03.

Mastercard (NYSE:MA) last posted its quarterly earnings results on Thursday, July 31st. The credit services provider reported $4.15 earnings per share for the quarter, topping analysts’ consensus estimates of $4.05 by $0.10. Mastercard had a net margin of 44.93% and a return on equity of 200.01%. The firm had revenue of $8.13 billion for the quarter, compared to the consensus estimate of $7.95 billion. During the same quarter in the previous year, the company earned $3.50 earnings per share. The business’s revenue was up 16.8% compared to the same quarter last year. As a group, sell-side analysts expect that Mastercard Incorporated will post 15.91 EPS for the current year.

Mastercard Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Wednesday, July 9th were issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Wednesday, July 9th. Mastercard’s payout ratio is currently 20.50%.

Analysts Set New Price Targets

Several research firms recently issued reports on MA. Truist Financial lowered their price objective on Mastercard from $640.00 to $612.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. Morgan Stanley raised their target price on shares of Mastercard from $639.00 to $661.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Wall Street Zen upgraded shares of Mastercard from a “hold” rating to a “buy” rating in a report on Friday, July 18th. KeyCorp raised their target price on shares of Mastercard from $635.00 to $660.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Finally, Royal Bank Of Canada boosted their target price on shares of Mastercard from $650.00 to $656.00 and gave the stock an “outperform” rating in a research note on Friday, August 1st. Five equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Mastercard presently has a consensus rating of “Moderate Buy” and an average price target of $617.93.

Insiders Place Their Bets

In other Mastercard news, insider Linda Pistecchia Kirkpatrick sold 959 shares of the business’s stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $572.86, for a total transaction of $549,372.74. Following the completion of the sale, the insider directly owned 25,540 shares of the company’s stock, valued at approximately $14,630,844.40. The trade was a 3.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Julius Genachowski sold 312 shares of the business’s stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $570.67, for a total value of $178,049.04. Following the sale, the director directly owned 8,469 shares of the company’s stock, valued at $4,833,004.23. This represents a 3.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,453 shares of company stock valued at $20,178,667. 0.09% of the stock is owned by corporate insiders.

Mastercard Company 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.