Envestnet Portfolio Solutions Inc. Raises Stock Holdings in Mastercard Incorporated $MA

Envestnet Portfolio Solutions Inc. raised its position in shares of Mastercard Incorporated (NYSE:MA) by 6.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 65,000 shares of the credit services provider’s stock after buying an additional 3,998 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Mastercard were worth $36,526,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Kingstone Capital Partners Texas LLC bought a new stake in Mastercard during the second quarter worth about $11,421,213,000. Nuveen LLC bought a new position in shares of Mastercard during the first quarter valued at approximately $4,238,764,000. Wellington Management Group LLP lifted its holdings in shares of Mastercard by 38.6% during the first quarter. Wellington Management Group LLP now owns 13,526,118 shares of the credit services provider’s stock valued at $7,413,936,000 after purchasing an additional 3,765,378 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Mastercard by 3,493.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 934,110 shares of the credit services provider’s stock worth $524,914,000 after purchasing an additional 908,116 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Mastercard by 4.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,096,979 shares of the credit services provider’s stock worth $11,015,557,000 after purchasing an additional 907,184 shares in the last quarter. 97.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MA. Deutsche Bank Aktiengesellschaft assumed coverage on Mastercard in a research report on Thursday, July 17th. They set a “buy” rating and a $650.00 price objective for the company. Truist Financial reduced their price target on Mastercard from $640.00 to $612.00 and set a “buy” rating for the company in a report on Thursday, July 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mastercard in a research report on Wednesday, October 8th. Wall Street Zen downgraded shares of Mastercard from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Finally, Wolfe Research set a $655.00 target price on shares of Mastercard in a report on Monday, June 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $634.04.

Mastercard Trading Down 1.4%

Mastercard stock opened at $556.80 on Monday. Mastercard Incorporated has a one year low of $465.59 and a one year high of $601.77. The business’s fifty day moving average is $581.01 and its 200 day moving average is $562.90. The stock has a market capitalization of $503.35 billion, a PE ratio of 37.55, a price-to-earnings-growth ratio of 2.28 and a beta of 0.97. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.16 and a quick ratio of 1.16.

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

Mastercard Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Thursday, October 9th will be given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, October 9th. Mastercard’s payout ratio is 20.50%.

Insiders Place Their Bets

In other news, CFO J. Mehra Sachin sold 17,263 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $591.00, for a total transaction of $10,202,433.00. Following the transaction, the chief financial officer directly owned 31,234 shares of the company’s stock, valued at $18,459,294. This represents a 35.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.09% of the company’s stock.

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.