Mastercard Incorporated (NYSE:MA) Position Lifted by Bridges Investment Management Inc.

Bridges Investment Management Inc. raised its stake in Mastercard Incorporated (NYSE:MA) by 96.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 413,814 shares of the credit services provider’s stock after buying an additional 203,399 shares during the period. Mastercard comprises 2.8% of Bridges Investment Management Inc.’s holdings, making the stock its 8th biggest holding. Bridges Investment Management Inc.’s holdings in Mastercard were worth $182,558,000 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 the stock. Vanguard Group Inc. grew its holdings in Mastercard by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 75,584,606 shares of the credit services provider’s stock worth $36,399,279,000 after acquiring an additional 330,872 shares in the last quarter. Capital International Investors boosted its position in Mastercard by 3.3% during the 4th quarter. Capital International Investors now owns 21,041,685 shares of the credit services provider’s stock valued at $8,974,478,000 after acquiring an additional 676,452 shares in the last quarter. Capital Research Global Investors raised its position in shares of Mastercard by 0.3% in the 1st quarter. Capital Research Global Investors now owns 13,651,904 shares of the credit services provider’s stock worth $6,574,347,000 after acquiring an additional 43,881 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Mastercard by 2.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 4,327,168 shares of the credit services provider’s stock worth $1,908,973,000 after purchasing an additional 113,238 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in Mastercard by 0.9% during the second quarter. American Century Companies Inc. now owns 4,250,760 shares of the credit services provider’s stock valued at $1,875,266,000 after purchasing an additional 38,380 shares in the last quarter. 97.28% of the stock is currently owned by institutional investors.

Mastercard Stock Performance

NYSE MA opened at $493.01 on Friday. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.14 and a quick ratio of 1.14. The company has a market cap of $458.31 billion, a P/E ratio of 39.19, a P/E/G ratio of 1.92 and a beta of 1.10. The stock has a 50-day moving average of $465.19 and a two-hundred day moving average of $460.98. Mastercard Incorporated has a 1-year low of $359.77 and a 1-year high of $501.80.

Mastercard (NYSE:MA) last announced its quarterly earnings data on Wednesday, July 31st. The credit services provider reported $3.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.51 by $0.08. The business had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $6.85 billion. Mastercard had a return on equity of 179.78% and a net margin of 46.45%. As a group, analysts anticipate that Mastercard Incorporated will post 14.29 EPS for the current year.

Mastercard Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th will be given a dividend of $0.66 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $2.64 annualized dividend and a dividend yield of 0.54%. Mastercard’s dividend payout ratio is presently 20.99%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Piper Sandler raised their target price on shares of Mastercard from $531.00 to $536.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Evercore ISI lowered their price objective on Mastercard from $540.00 to $525.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. JPMorgan Chase & Co. upped their target price on Mastercard from $500.00 to $570.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. KeyCorp raised their price target on Mastercard from $490.00 to $515.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Finally, Citigroup upped their price objective on shares of Mastercard from $528.00 to $538.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $512.08.

Insider Activity at Mastercard

In other Mastercard news, major shareholder Foundation Mastercard sold 138,000 shares of Mastercard stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $453.19, for a total transaction of $62,540,220.00. Following the transaction, the insider now owns 92,152,308 shares of the company’s stock, valued at $41,762,504,462.52. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, major shareholder Foundation Mastercard sold 138,000 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $453.19, for a total transaction of $62,540,220.00. Following the transaction, the insider now owns 92,152,308 shares of the company’s stock, valued at $41,762,504,462.52. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CMO Venkata R. Madabhushi sold 4,685 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $493.10, for a total value of $2,310,173.50. Following the sale, the chief marketing officer now directly owns 17,118 shares of the company’s stock, valued at $8,440,885.80. The disclosure for this sale can be found here. Insiders sold a total of 605,124 shares of company stock valued at $280,045,189 over the last ninety days. Insiders own 0.10% of the company’s stock.

Mastercard Profile

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.