Magellan Asset Management Ltd Has $369.06 Million Stock Position in Mastercard Incorporated $MA

Magellan Asset Management Ltd lowered its holdings in shares of Mastercard Incorporated (NYSE:MA) by 6.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 656,760 shares of the credit services provider’s stock after selling 43,105 shares during the period. Mastercard makes up 4.2% of Magellan Asset Management Ltd’s investment portfolio, making the stock its 6th largest holding. Magellan Asset Management Ltd owned about 0.07% of Mastercard worth $369,060,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of MA. Los Angeles Capital Management LLC lifted its position in Mastercard by 3.6% in the 2nd quarter. Los Angeles Capital Management LLC now owns 599,636 shares of the credit services provider’s stock valued at $336,959,000 after acquiring an additional 20,996 shares in the last quarter. Prospera Financial Services Inc boosted its stake in shares of Mastercard by 164.8% in the 2nd quarter. Prospera Financial Services Inc now owns 28,339 shares of the credit services provider’s stock worth $15,939,000 after buying an additional 17,635 shares during the last quarter. RWA Wealth Partners LLC increased its position in Mastercard by 5.1% during the second quarter. RWA Wealth Partners LLC now owns 15,027 shares of the credit services provider’s stock valued at $8,444,000 after acquiring an additional 727 shares during the last quarter. Titan Global Capital Management USA LLC boosted its position in Mastercard by 8.4% in the second quarter. Titan Global Capital Management USA LLC now owns 58,817 shares of the credit services provider’s stock worth $33,052,000 after purchasing an additional 4,550 shares during the last quarter. Finally, True Wealth Design LLC increased its position in shares of Mastercard by 45.2% during the 2nd quarter. True Wealth Design LLC now owns 61 shares of the credit services provider’s stock valued at $34,000 after purchasing an additional 19 shares during the last quarter. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Insiders Place Their Bets

In other Mastercard news, CFO J. Mehra Sachin sold 17,263 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer directly owned 31,234 shares in the company, valued at $18,459,294. This represents a 35.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.09% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on MA shares. Royal Bank Of Canada lifted their price target on shares of Mastercard from $645.00 to $654.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. UBS Group boosted their price target on Mastercard from $690.00 to $700.00 and gave the company a “buy” rating in a report on Friday, October 31st. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $713.00 price objective on shares of Mastercard in a research note on Thursday, October 30th. Cowen reiterated a “buy” rating on shares of Mastercard in a research note on Friday, October 31st. Finally, Robert W. Baird raised their target price on shares of Mastercard from $640.00 to $660.00 and gave the stock an “outperform” rating in a research note on Monday, October 6th. Four analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $649.26.

Mastercard Stock Performance

NYSE:MA opened at $551.98 on Friday. The company has a market cap of $499.00 billion, a price-to-earnings ratio of 37.22, a PEG ratio of 2.27 and a beta of 0.92. Mastercard Incorporated has a 1 year low of $465.59 and a 1 year high of $601.77. The stock’s 50 day simple moving average is $572.24 and its two-hundred day simple moving average is $568.95. 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, October 30th. The credit services provider reported $4.38 earnings per share for the quarter, beating analysts’ consensus estimates of $4.31 by $0.07. Mastercard had a net margin of 44.93% and a return on equity of 200.01%. The firm had revenue of $8.60 billion during the quarter, compared to analyst estimates of $8.53 billion. During the same period last year, the firm posted $3.89 earnings per share. Mastercard’s revenue for the quarter was up 16.7% compared to the same quarter last year. As a group, equities analysts anticipate that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 7th. Investors of record on Thursday, October 9th were given a $0.76 dividend. The ex-dividend date was Thursday, October 9th. This represents a $3.04 annualized dividend and a yield of 0.6%. Mastercard’s dividend payout ratio (DPR) is currently 19.44%.

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.