Mastercard Incorporated (NYSE:MA) Position Boosted by Bell Bank

14 Nov 2024, 15:10 by Renee Jackson · The Cerbat Gem

Bell Bank boosted its position in Mastercard Incorporated (NYSE:MA – Free Report) by 24.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,696 shares of the credit services provider’s stock after buying an additional 1,116 shares during the quarter. Bell Bank’s holdings in Mastercard were worth $2,813,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Sarasin & Partners LLP grew its position in shares of Mastercard by 4.7% during the 3rd quarter. Sarasin & Partners LLP now owns 831,942 shares of the credit services provider’s stock valued at $410,813,000 after buying an additional 37,486 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Mastercard by 4.8% in the third quarter. Principal Financial Group Inc. now owns 3,031,915 shares of the credit services provider’s stock valued at $1,497,160,000 after acquiring an additional 138,842 shares during the period. Coppell Advisory Solutions Corp. bought a new position in shares of Mastercard during the first quarter valued at approximately $608,000. SteelPeak Wealth LLC raised its position in shares of Mastercard by 48.6% during the 2nd quarter. SteelPeak Wealth LLC now owns 4,928 shares of the credit services provider’s stock worth $2,174,000 after purchasing an additional 1,612 shares during the period. Finally, OMC Financial Services LTD bought a new stake in shares of Mastercard in the 1st quarter worth approximately $17,854,000. Institutional investors and hedge funds own 97.28% of the company’s stock.

Mastercard Price Performance

Shares of Mastercard stock opened at $521.50 on Thursday. Mastercard Incorporated has a 52 week low of $394.76 and a 52 week high of $534.03. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 2.36. The stock has a market cap of $478.65 billion, a PE ratio of 39.45, a price-to-earnings-growth ratio of 2.32 and a beta of 1.10. The company’s 50-day moving average price is $501.55 and its two-hundred day moving average price is $469.88.

Mastercard (NYSE:MA – Get Free Report) last released its earnings results on Thursday, October 31st. The credit services provider reported $3.89 EPS for the quarter, topping analysts’ consensus estimates of $3.73 by $0.16. The business had revenue of $7.37 billion for the quarter, compared to the consensus estimate of $7.27 billion. Mastercard had a net margin of 45.26% and a return on equity of 178.27%. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period in the previous year, the firm earned $3.39 EPS. As a group, sell-side analysts anticipate that Mastercard Incorporated will post 14.45 EPS for the current fiscal year.

Mastercard Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th were paid a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Wednesday, October 9th. Mastercard’s dividend payout ratio is presently 19.97%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MA. Argus upgraded Mastercard to a “strong-buy” rating in a research note on Thursday, August 1st. Piper Sandler restated an “overweight” rating and set a $565.00 price target (up previously from $536.00) on shares of Mastercard in a research report on Friday, November 1st. KeyCorp lifted their price objective on shares of Mastercard from $515.00 to $580.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. decreased their target price on shares of Mastercard from $593.00 to $580.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Finally, Barclays lifted their price target on Mastercard from $536.00 to $576.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $540.17.

View Our Latest Research Report on Mastercard

Insider Buying and Selling

In related news, major shareholder Foundation Mastercard sold 109,000 shares of Mastercard stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $467.45, for a total value of $50,952,050.00. Following the transaction, the insider now owns 91,924,308 shares of the company’s stock, valued at approximately $42,970,017,774.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, major shareholder Foundation Mastercard sold 109,000 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $467.45, for a total value of $50,952,050.00. Following the completion of the sale, the insider now owns 91,924,308 shares in the company, valued at $42,970,017,774.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CMO Venkata R. Madabhushi sold 4,685 shares of Mastercard stock in a transaction on Friday, September 20th. The shares were sold at an average price of $489.86, for a total value of $2,294,994.10. Following the transaction, the chief marketing officer now owns 15,031 shares in the company, valued at $7,363,085.66. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 327,370 shares of company stock worth $153,495,958 in the last three months. 0.10% of the stock is currently owned by insiders.

About Mastercard

(Free Report)

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.