BTC Capital Management Inc. Has $14.26 Million Stake in Mastercard Incorporated $MA

BTC Capital Management Inc. increased its stake in shares of Mastercard Incorporated (NYSE:MA) by 2.0% during the second quarter, HoldingsChannel reports. The fund owned 25,401 shares of the credit services provider’s stock after buying an additional 507 shares during the period. Mastercard comprises about 1.2% of BTC Capital Management Inc.’s investment portfolio, making the stock its 23rd largest position. BTC Capital Management Inc.’s holdings in Mastercard were worth $14,255,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in MA. Accredited Investors Inc. increased its stake in Mastercard by 2.6% in the 1st quarter. Accredited Investors Inc. now owns 718 shares of the credit services provider’s stock valued at $394,000 after buying an additional 18 shares during the last quarter. Wealthstream Advisors Inc. increased its stake in Mastercard by 2.9% in the 1st quarter. Wealthstream Advisors Inc. now owns 632 shares of the credit services provider’s stock valued at $347,000 after buying an additional 18 shares during the last quarter. Phillips Wealth Planners LLC increased its stake in Mastercard by 1.8% in the 1st quarter. Phillips Wealth Planners LLC now owns 1,055 shares of the credit services provider’s stock valued at $538,000 after buying an additional 19 shares during the last quarter. Alta Wealth Advisors LLC increased its stake in Mastercard by 3.6% in the 1st quarter. Alta Wealth Advisors LLC now owns 540 shares of the credit services provider’s stock valued at $296,000 after buying an additional 19 shares during the last quarter. Finally, May Hill Capital LLC increased its stake in Mastercard by 2.0% in the 1st quarter. May Hill Capital LLC now owns 986 shares of the credit services provider’s stock valued at $540,000 after buying an additional 19 shares during the last quarter. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on MA. Morgan Stanley lifted their price target on shares of Mastercard from $639.00 to $661.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Royal Bank Of Canada lifted their price target on shares of Mastercard from $650.00 to $656.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Mastercard in a research note on Thursday, July 17th. They issued a “buy” rating and a $650.00 price target on the stock. Jefferies Financial Group reissued a “buy” rating on shares of Mastercard in a research report on Friday, June 6th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Mastercard in a research report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $630.89.

Mastercard Stock Performance

NYSE MA opened at $583.88 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 2.41. The company has a market capitalization of $527.83 billion, a P/E ratio of 39.37, a P/E/G ratio of 2.39 and a beta of 0.99. Mastercard Incorporated has a 12-month low of $465.59 and a 12-month high of $601.77. The firm has a 50-day moving average price of $577.23 and a two-hundred day moving average price of $559.09.

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

Mastercard Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Thursday, October 9th will be issued a $0.76 dividend. The ex-dividend date of this dividend is Thursday, October 9th. This represents a $3.04 dividend on an annualized basis and a yield of 0.5%. Mastercard’s payout ratio is currently 20.50%.

Insider Activity

In other news, insider Linda Pistecchia Kirkpatrick sold 958 shares of the business’s stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $560.00, for a total value of $536,480.00. Following the completion of the transaction, the insider directly owned 23,624 shares in the company, valued at approximately $13,229,440. The trade was a 3.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Julius Genachowski sold 312 shares of the business’s stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $570.67, for a total transaction of $178,049.04. Following the completion of the transaction, the director owned 8,469 shares of the company’s stock, valued at $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. Insiders have sold a total of 38,717 shares of company stock valued at $22,684,831 over the last quarter. 0.09% of the stock is owned by corporate insiders.

About Mastercard

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.