Ilmarinen Mutual Pension Insurance Co Buys 5,000 Shares of Mastercard Incorporated (NYSE:MA)

Posted by Defense World Staff on Sep 13th, 2023

Ilmarinen Mutual Pension Insurance Co lifted its stake in shares of Mastercard Incorporated (NYSE:MA – Free Report) by 5.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 104,125 shares of the credit services provider’s stock after acquiring an additional 5,000 shares during the quarter. Mastercard makes up 0.5% of Ilmarinen Mutual Pension Insurance Co’s holdings, making the stock its 18th biggest holding. Ilmarinen Mutual Pension Insurance Co’s holdings in Mastercard were worth $37,840,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in MA. Norges Bank bought a new stake in Mastercard in the fourth quarter worth approximately $3,308,223,000. Moneta Group Investment Advisors LLC increased its holdings in Mastercard by 111,819.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 5,983,231 shares of the credit services provider’s stock worth $2,080,549,000 after purchasing an additional 5,977,885 shares in the last quarter. Envestnet Asset Management Inc. grew 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 valued at $507,830,000 after acquiring an additional 3,386,762 shares during the period. Morgan Stanley grew its stake in Mastercard by 17.7% in 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 period. Finally, Price T Rowe Associates Inc. MD grew its stake in Mastercard by 9.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,027,189 shares of the credit services provider’s stock valued at $9,398,165,000 after acquiring an additional 2,247,291 shares during the period. 74.94% of the stock is currently owned by institutional investors.

Insider Activity at Mastercard

In related news, major shareholder Foundation Mastercard sold 125,816 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $391.39, for a total transaction of $49,243,124.24. Following the completion of the transaction, the insider now directly owns 99,430,749 shares in the company, valued at $38,916,200,851.11. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CFO J. Mehra Sachin sold 10,838 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $394.38, for a total transaction of $4,274,290.44. Following the completion of the transaction, the chief financial officer now directly owns 20,707 shares in the company, valued at $8,166,426.66. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Foundation Mastercard sold 125,816 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $391.39, for a total value of $49,243,124.24. Following the transaction, the insider now owns 99,430,749 shares of the company’s stock, valued at $38,916,200,851.11. The disclosure for this sale can be found here. In the last three months, insiders have sold 407,267 shares of company stock worth $161,485,243. 0.13% of the stock is owned by company insiders.

Mastercard Stock Down 0.1 %

MA stock opened at $416.20 on Wednesday. The stock’s fifty day simple moving average is $400.63 and its two-hundred day simple moving average is $380.70. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.57. Mastercard Incorporated has a 1-year low of $276.87 and a 1-year high of $417.78. The stock has a market cap of $392.15 billion, a P/E ratio of 39.01, a P/E/G ratio of 1.86 and a beta of 1.10.

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, beating the consensus estimate of $2.84 by $0.05. The firm had revenue of $6.30 billion for the quarter, compared to analyst estimates of $6.18 billion. Mastercard had a return on equity of 178.10% and a net margin of 43.37%. The business’s revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.56 earnings per share. Analysts expect that Mastercard Incorporated will post 12.13 EPS for the current year.

Mastercard Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have commented on MA. The Goldman Sachs Group raised their price objective on Mastercard from $442.00 to $452.00 in a research note on Thursday, July 13th. Robert W. Baird raised their price objective on Mastercard from $435.00 to $450.00 in a research note on Friday, July 28th. JPMorgan Chase & Co. raised their price objective on Mastercard from $442.00 to $510.00 and gave the company an “overweight” rating in a research note on Tuesday, August 22nd. StockNews.com assumed coverage on Mastercard in a research report on Thursday, August 17th. They set a “buy” rating on the stock. Finally, Bank of America lifted their target price on Mastercard from $438.00 to $442.00 in a research report on Tuesday, July 18th. One analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.