Geode Capital Management LLC Acquires 453,773 Shares of Mastercard Incorporated (NYSE:MA)

Geode Capital Management LLC lifted its holdings in shares of Mastercard Incorporated (NYSE:MA) by 2.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,375,053 shares of the credit services provider’s stock after acquiring an additional 453,773 shares during the quarter. Mastercard makes up about 0.7% of Geode Capital Management LLC’s portfolio, making the stock its 18th biggest holding. Geode Capital Management LLC owned 2.00% of Mastercard worth $9,043,972,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. State Street Corp grew its position in shares of Mastercard by 0.7% in the third quarter. State Street Corp now owns 35,288,912 shares of the credit services provider’s stock valued at $17,425,665,000 after purchasing an additional 257,312 shares during the last quarter. FMR LLC boosted its stake in Mastercard by 3.4% in the 3rd quarter. FMR LLC now owns 21,355,081 shares of the credit services provider’s stock valued at $10,545,139,000 after purchasing an additional 700,769 shares during the period. International Assets Investment Management LLC grew its holdings in Mastercard by 120,665.3% in the 3rd quarter. International Assets Investment Management LLC now owns 8,041,758 shares of the credit services provider’s stock valued at $3,971,020,000 after buying an additional 8,035,099 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Mastercard by 1.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,308,684 shares of the credit services provider’s stock worth $3,115,228,000 after buying an additional 64,456 shares during the period. Finally, Bank of Montreal Can lifted its holdings in shares of Mastercard by 51.7% during the third quarter. Bank of Montreal Can now owns 5,765,714 shares of the credit services provider’s stock worth $2,846,187,000 after buying an additional 1,965,782 shares in the last quarter. Institutional investors own 97.28% of the company’s stock.

Mastercard Stock Down 1.1 %

Shares of NYSE:MA opened at $522.82 on Tuesday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 2.36. The stock has a market cap of $479.86 billion, a price-to-earnings ratio of 39.55, a PEG ratio of 2.35 and a beta of 1.10. The business’s 50 day moving average is $514.42 and its 200 day moving average is $479.31. Mastercard Incorporated has a 12-month low of $411.60 and a 12-month high of $535.77.

Mastercard (NYSE:MA) last posted its quarterly earnings results on Thursday, October 31st. The credit services provider reported $3.89 earnings per share for the quarter, beating the consensus estimate of $3.73 by $0.16. The company had revenue of $7.37 billion during the quarter, compared to analyst estimates of $7.27 billion. Mastercard had a net margin of 45.26% and a return on equity of 178.27%. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.39 earnings per share. On average, sell-side analysts forecast that Mastercard Incorporated will post 14.47 earnings per share for the current fiscal year.

Mastercard Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Wednesday, October 9th were issued a dividend of $0.66 per share. The ex-dividend date was Wednesday, October 9th. This represents a $2.64 dividend on an annualized basis and a yield of 0.50%. Mastercard’s dividend payout ratio (DPR) is 19.97%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on MA shares. JPMorgan Chase & Co. lowered their price target on shares of Mastercard from $593.00 to $580.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Oppenheimer started coverage on Mastercard in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $591.00 price target for the company. UBS Group raised their price objective on Mastercard from $590.00 to $610.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Citigroup increased their target price on Mastercard from $566.00 to $572.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, KeyCorp boosted their target price on shares of Mastercard from $515.00 to $580.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $559.28.

Insider Activity

In other Mastercard news, CMO Venkata R. Madabhushi sold 4,685 shares of Mastercard stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $489.86, for a total transaction of $2,294,994.10. Following the completion of the sale, the chief marketing officer now owns 15,031 shares of the company’s stock, valued at $7,363,085.66. The trade was a 23.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.10% of the stock is 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.