CenterBook Partners LP reduced its stake in shares of Mastercard Incorporated (NYSE:MA – Free Report) by 42.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 29,325 shares of the credit services provider’s stock after selling 21,836 shares during the quarter. Mastercard comprises about 0.7% of CenterBook Partners LP’s holdings, making the stock its 21st largest position. CenterBook Partners LP’s holdings in Mastercard were worth $16,172,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. State Street Corp lifted its holdings in Mastercard by 1.3% during the 2nd quarter. State Street Corp now owns 36,964,305 shares of the credit services provider’s stock worth $18,984,867,000 after buying an additional 486,283 shares in the last quarter. Jennison Associates LLC boosted its position in Mastercard by 10.4% in the 1st quarter. Jennison Associates LLC now owns 5,123,041 shares of the credit services provider’s stock valued at $2,559,779,000 after buying an additional 480,725 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Mastercard by 1.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,225,359 shares of the credit services provider’s stock valued at $2,111,216,000 after buying an additional 42,871 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Mastercard by 17.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,666,018 shares of the credit services provider’s stock valued at $1,831,763,000 after buying an additional 554,366 shares during the period. Finally, Amundi increased its stake in shares of Mastercard by 5.8% in the 2nd quarter. Amundi now owns 3,626,416 shares of the credit services provider’s stock valued at $1,862,527,000 after buying an additional 199,424 shares during the period. Institutional investors and hedge funds own 97.28% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on the company. BNP Paribas Exane upped their price target on Mastercard from $680.00 to $713.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Wells Fargo & Company lifted their price objective on Mastercard from $668.00 to $731.00 and gave the stock an “overweight” rating in a research report on Friday, October 30th. UBS Group reissued a “buy” rating and set a $725.00 price objective on shares of Mastercard in a report on Thursday. Piper Sandler upped their target price on shares of Mastercard from $597.00 to $710.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Finally, Truist Financial upped their target price on shares of Mastercard from $674.00 to $735.00 and gave the company a “buy” rating in a research report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Mastercard presently has an average rating of “Moderate Buy” and an average target price of $704.62.
More Mastercard News
Here are the key news stories impacting Mastercard this week:
- Positive Sentiment: Q3 results beat expectations: revenue rose 14% year over year to $9.81 billion and adjusted EPS increased 21.2%. Services revenue grew 19%, although higher incentives were flagged as a concern. Mastercard’s 19% Services Growth Steals the Q3 Show: Buy or Hold MA?
- Positive Sentiment: Truist raised its price target to $735 and maintained a Buy rating, signaling potential upside in its view. Truist Financial rating information
- Negative Sentiment: Freedom Broker downgraded MA from Buy to Hold, despite lifting its target to $725. The mixed call may temper enthusiasm after the stock’s recent rally. Freedom Broker rating information
- Negative Sentiment: Valuation is a key risk: coverage notes the recent rally has outpaced changes in earnings estimates, leaving less room for disappointment. Rising incentives could also weigh on margins. Mastercard Stock Rose 22% in a Month. Here’s What Its Price Now Assumes
- Negative Sentiment: Visa and Mastercard face additional collective claims in the UK over card fees, adding potential legal and financial uncertainty. Visa and Mastercard face additional £5bn collective claims over card fees
- Neutral Sentiment: The CFO sold about $2.77 million of MA shares. The sale may attract attention, but the report provides no context on its purpose. Mastercard CFO stock sale
Mastercard Trading Down 0.4%
Shares of Mastercard stock traded down $2.47 on Friday, hitting $653.45. 3,293,628 shares of the company’s stock traded hands, compared to its average volume of 3,281,489. The firm’s 50-day moving average price is $593.15 and its two-hundred day moving average price is $539.12. The company has a debt-to-equity ratio of 3.29, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $572.43 billion, a PE ratio of 34.18, a price-to-earnings-growth ratio of 1.86 and a beta of 0.78. Mastercard Incorporated has a one year low of $464.52 and a one year high of $681.99.
Mastercard (NYSE:MA – Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The credit services provider reported $5.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.17 by $0.14. Mastercard had a return on equity of 260.86% and a net margin of 46.73%. The business had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.66 billion. During the same period last year, the company earned $4.38 EPS. The firm’s revenue was up 14.0% on a year-over-year basis. On average, research analysts expect that Mastercard Incorporated will post 20.00 EPS for the current fiscal year.
Mastercard Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Friday, October 9th will be issued a dividend of $0.87 per share. The ex-dividend date is Friday, October 9th. This represents a $3.48 dividend on an annualized basis and a yield of 0.5%. Mastercard’s dividend payout ratio (DPR) is 18.20%.
Insiders Place Their Bets
In other Mastercard news, CFO Ling Hai sold 4,318 shares of the firm’s stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $642.43, for a total transaction of $2,774,012.74. Following the transaction, the chief financial officer owned 35,750 shares in the company, valued at approximately $22,966,872.50. This trade represents a 10.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sachin Mehra sold 7,444 shares of the business’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $577.13, for a total value of $4,296,155.72. Following the transaction, the insider owned 40,916 shares of the company’s stock, valued at $23,613,851.08. The trade was a 15.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 25,403 shares of company stock worth $15,428,736. Insiders own 0.09% of the company’s stock.
Mastercard Company Profile
Mastercard Incorporated is a global payments technology company that operates a network connecting consumers, merchants, financial institutions, businesses and governments. Its network supports electronic payments, including transactions made with Mastercard-branded credit, debit and prepaid cards, as well as digital payment methods.
The company provides technology for authorizing, clearing and settling transactions. It also offers services related to cybersecurity, identity verification, data analytics, fraud prevention and payment consulting.
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