Westpac Banking Corp Has $16.20 Million Stake in Mastercard Incorporated (NYSE:MA)

Westpac Banking Corp boosted its stake in shares of Mastercard Incorporated (NYSE:MA) by 19.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,558 shares of the credit services provider’s stock after purchasing an additional 4,771 shares during the quarter. Mastercard comprises 1.2% of Westpac Banking Corp’s portfolio, making the stock its 8th largest holding. Westpac Banking Corp’s holdings in Mastercard were worth $16,201,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in MA. Ariadne Wealth Management LP lifted its holdings in shares of Mastercard by 10.1% during the first quarter. Ariadne Wealth Management LP now owns 1,596 shares of the credit services provider’s stock worth $908,000 after buying an additional 146 shares during the last quarter. Stone House Investment Management LLC acquired a new position in shares of Mastercard during the first quarter worth approximately $190,000. Trajan Wealth LLC raised its stake in shares of Mastercard by 3.5% in the first quarter. Trajan Wealth LLC now owns 116,317 shares of the credit services provider’s stock valued at $63,756,000 after purchasing an additional 3,981 shares in the last quarter. Core Wealth Partners LLC raised its stake in shares of Mastercard by 23.7% in the first quarter. Core Wealth Partners LLC now owns 1,191 shares of the credit services provider’s stock valued at $653,000 after purchasing an additional 228 shares in the last quarter. Finally, Enhancing Capital LLC raised its stake in shares of Mastercard by 1.3% in the first quarter. Enhancing Capital LLC now owns 2,015 shares of the credit services provider’s stock valued at $1,104,000 after purchasing an additional 25 shares in the last quarter. Institutional investors own 97.28% of the company’s stock.

Insider Transactions at Mastercard

In related news, insider Raj Seshadri sold 1,100 shares of the business’s stock in a transaction on Friday, June 27th. The stock was sold at an average price of $546.77, for a total value of $601,447.00. Following the completion of the sale, the insider directly owned 12,921 shares in the company, valued at $7,064,815.17. The trade was a 7.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Julius Genachowski sold 312 shares of the company’s stock in a transaction on Monday, July 7th. The shares were sold at an average price of $570.67, for a total value of $178,049.04. Following the sale, the director owned 8,469 shares of the company’s stock, valued at approximately $4,833,004.23. The trade was a 3.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,453 shares of company stock valued at $20,178,667. Company insiders own 0.09% of the company’s stock.

Mastercard Stock Down 0.1%

NYSE:MA opened at $573.72 on Tuesday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 2.41. Mastercard Incorporated has a twelve month low of $453.89 and a twelve month high of $594.71. The stock’s 50 day moving average price is $563.76 and its two-hundred day moving average price is $553.84. The firm has a market capitalization of $518.65 billion, a price-to-earnings ratio of 38.69, a price-to-earnings-growth ratio of 2.36 and a beta of 1.03.

Mastercard (NYSE:MA) last issued its earnings results on Thursday, July 31st. The credit services provider reported $4.15 EPS for the quarter, topping the consensus estimate of $4.05 by $0.10. Mastercard had a return on equity of 200.01% and a net margin of 44.93%. The company had revenue of $8.13 billion during the quarter, compared to the consensus estimate of $7.95 billion. During the same period in the previous year, the company posted $3.50 EPS. The firm’s revenue for the quarter was up 16.8% compared to the same quarter last year. Equities research analysts expect that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Wednesday, July 9th were paid a $0.76 dividend. The ex-dividend date was Wednesday, July 9th. This represents a $3.04 annualized dividend and a yield of 0.5%. Mastercard’s payout ratio is 20.50%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on MA shares. Truist Financial dropped their price objective on Mastercard from $640.00 to $612.00 and set a “buy” rating for the company in a research note on Thursday, July 17th. Wells Fargo & Company increased their price objective on Mastercard from $625.00 to $650.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Royal Bank Of Canada increased their target price on Mastercard from $650.00 to $656.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. Wolfe Research set a $655.00 target price on Mastercard in a report on Monday, June 23rd. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Mastercard in a report on Friday, August 1st. Five equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Mastercard has an average rating of “Moderate Buy” and a consensus target price of $615.33.

Mastercard Company 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.