Mastercard Incorporated (NYSE:MA) Position Raised by Bishop Rock Capital L.P.

Posted by Defense World Staff on Sep 12th, 2023

Bishop Rock Capital L.P. raised its holdings in Mastercard Incorporated (NYSE:MA – Free Report) by 3.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,467 shares of the credit services provider’s stock after purchasing an additional 433 shares during the period. Mastercard accounts for about 8.2% of Bishop Rock Capital L.P.’s holdings, making the stock its biggest position. Bishop Rock Capital L.P.’s holdings in Mastercard were worth $5,257,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of MA. Norges Bank bought a new position in shares of Mastercard in the fourth quarter worth $3,308,223,000. Moneta Group Investment Advisors LLC raised its holdings in shares of Mastercard by 111,819.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 5,983,231 shares of the credit services provider’s stock valued at $2,080,549,000 after buying an additional 5,977,885 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Mastercard by 241.1% in the first quarter. Envestnet Asset Management Inc. now owns 4,791,626 shares of the credit services provider’s stock worth $507,830,000 after buying an additional 3,386,762 shares in the last quarter. Morgan Stanley grew its position in Mastercard by 17.7% during the fourth quarter. Morgan Stanley now owns 15,843,692 shares of the credit services provider’s stock valued at $5,509,328,000 after acquiring an additional 2,385,640 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Mastercard by 9.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,027,189 shares of the credit services provider’s stock worth $9,398,165,000 after acquiring an additional 2,247,291 shares during the last quarter. Institutional investors own 74.94% of the company’s stock.

Insider Activity

In related news, CFO J. Mehra Sachin sold 10,838 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $394.38, for a total transaction of $4,274,290.44. Following the completion of the sale, the chief financial officer now directly owns 20,707 shares in the company, valued at $8,166,426.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Craig Vosburg sold 6,333 shares of the stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $400.00, for a total value of $2,533,200.00. Following the completion of the sale, the insider now directly owns 46,491 shares of the company’s stock, valued at approximately $18,596,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO J. Mehra Sachin sold 10,838 shares of Mastercard stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $394.38, for a total transaction of $4,274,290.44. Following the transaction, the chief financial officer now directly owns 20,707 shares in the company, valued at approximately $8,166,426.66. The disclosure for this sale can be found here. Insiders sold 407,267 shares of company stock valued at $161,485,243 in the last quarter. 0.13% of the stock is currently owned by insiders.

Mastercard Stock Up 0.5 %

MA stock opened at $416.96 on Tuesday. The business has a 50 day moving average of $400.18 and a 200 day moving average of $380.26. The firm has a market cap of $392.86 billion, a PE ratio of 39.08, a price-to-earnings-growth ratio of 1.86 and a beta of 1.10. Mastercard Incorporated has a twelve month low of $276.87 and a twelve month high of $417.78. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.57.

Mastercard (NYSE:MA – Get Free Report) last issued its earnings results on Thursday, July 27th. The credit services provider reported $2.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.05. The company had revenue of $6.30 billion for the quarter, compared to analysts’ expectations of $6.18 billion. Mastercard had a net margin of 43.37% and a return on equity of 178.10%. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the company posted $2.56 earnings per share. On average, research analysts forecast that Mastercard Incorporated will post 12.13 EPS for the current fiscal year.

Mastercard Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 9th. Shareholders of record on Friday, July 7th were paid a dividend of $0.57 per share. The ex-dividend date was Thursday, July 6th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.55%. Mastercard’s dividend payout ratio is currently 21.37%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Barclays raised their price objective on Mastercard from $437.00 to $470.00 and gave the company an “overweight” rating in a research note on Monday, July 24th. The Goldman Sachs Group lifted their price target on Mastercard from $442.00 to $452.00 in a research note on Thursday, July 13th. Credit Suisse Group raised their target price on shares of Mastercard from $400.00 to $430.00 and gave the stock an “outperform” rating in a report on Friday, July 28th. Wells Fargo & Company upped their price target on shares of Mastercard from $425.00 to $440.00 and gave the company an “overweight” rating in a report on Friday, July 28th. Finally, StockNews.com assumed coverage on shares of Mastercard in a report on Thursday, August 17th. They issued a “buy” rating on the stock. One analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $440.96.

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Mastercard Company Profile

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Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers other payment-related products and services.