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

Primecap Management Co. CA lifted its holdings in Mastercard Incorporated (NYSE:MA) by 25.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 527,341 shares of the credit services provider’s stock after buying an additional 108,271 shares during the quarter. Primecap Management Co. CA owned 0.06% of Mastercard worth $296,334,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

MA has been the topic of several research analyst reports. UBS Group boosted their price target on Mastercard from $690.00 to $700.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Citigroup raised Mastercard to a “strong-buy” rating in a report on Thursday, October 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of Mastercard in a report on Wednesday, October 8th. KeyCorp restated an “overweight” rating and issued a $665.00 price target on shares of Mastercard in a research report on Wednesday, October 22nd. Finally, TD Cowen reiterated a “buy” rating and issued a $645.00 price objective on shares of Mastercard in a research report on Monday, August 11th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $652.50.

Mastercard Stock Performance

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

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

Mastercard Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Thursday, October 9th were issued 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 dividend yield of 0.6%. Mastercard’s payout ratio is 19.44%.

Insider Activity at Mastercard

In other news, CFO J. Mehra Sachin sold 17,263 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $591.00, for a total value 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. The trade was a 35.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.09% of the stock is currently owned by company insiders.

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.