Davis Asset Management L.P. Acquires Shares of 102,000 Mastercard Incorporated $MA

Davis Asset Management L.P. acquired a new position in Mastercard Incorporated (NYSE:MA) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 102,000 shares of the credit services provider’s stock, valued at approximately $52,387,000. Mastercard makes up about 1.3% of Davis Asset Management L.P.’s investment portfolio, making the stock its 26th biggest position.

Several other large investors also recently made changes to their positions in the business. Robinswood Financial LLC bought a new position in shares of Mastercard in the first quarter valued at about $25,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in Mastercard by 820.0% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 46 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 41 shares during the last quarter. Strive Financial Group LLC acquired a new stake in Mastercard in the 4th quarter valued at about $27,000. Hyposwiss Advisors SA acquired a new stake in Mastercard in the 4th quarter valued at about $29,000. Finally, First Pacific Financial raised its stake in shares of Mastercard by 113.8% in the first quarter. First Pacific Financial now owns 62 shares of the credit services provider’s stock worth $31,000 after acquiring an additional 33 shares during the last quarter. Institutional investors own 97.28% of the company’s stock.

Mastercard Stock Performance

Mastercard stock opened at $598.69 on Wednesday. The company has a market cap of $524.46 billion, a PE ratio of 32.93, a PEG ratio of 1.80 and a beta of 0.72. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 3.96. Mastercard Incorporated has a 1 year low of $464.52 and a 1 year high of $601.62. The company’s 50-day moving average is $542.94 and its two-hundred day moving average is $518.46.

Mastercard (NYSE:MA) last issued its quarterly earnings results on Thursday, July 30th. The credit services provider reported $5.04 EPS for the quarter, topping the consensus estimate of $4.77 by $0.27. The company had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.08 billion. Mastercard had a net margin of 46.34% and a return on equity of 239.99%. Mastercard’s revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.15 EPS. Equities analysts anticipate that Mastercard Incorporated will post 19.86 earnings per share for the current year.

Mastercard Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Thursday, July 9th were issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Thursday, July 9th. Mastercard’s payout ratio is currently 19.14%.

Insider Activity

In other Mastercard news, insider Linda Pistecchia Kirkpatrick sold 4,280 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $570.31, for a total transaction of $2,440,926.80. Following the completion of the sale, the insider owned 31,179 shares in the company, valued at approximately $17,781,695.49. The trade was a 12.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Raj Seshadri sold 1,977 shares of the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $529.73, for a total value of $1,047,276.21. Following the completion of the transaction, the insider directly owned 16,429 shares in the company, valued at approximately $8,702,934.17. This trade represents a 10.74% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 71,357 shares of company stock worth $40,637,262. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on MA shares. Cantor Fitzgerald upped their target price on shares of Mastercard from $650.00 to $695.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. Barclays raised their price target on shares of Mastercard from $640.00 to $660.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Keefe, Bruyette & Woods boosted their price objective on shares of Mastercard from $665.00 to $685.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Robert W. Baird increased their price objective on Mastercard from $660.00 to $680.00 and gave the company an “outperform” rating in a research report on Tuesday, July 7th. Finally, Royal Bank Of Canada lifted their target price on Mastercard from $629.00 to $642.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Five analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $664.71.

About Mastercard

Mastercard Incorporated is a global payments technology company that operates a network connecting consumers, financial institutions, merchants, governments and businesses in more than 200 countries and territories. The company facilitates electronic payments and transaction processing for credit, debit and prepaid card products carrying the Mastercard brand, while also providing a range of payment-related services to issuers, acquirers and merchants. Its technology and network enable authorization, clearing and settlement of payments and support a broad set of use cases including point-of-sale, e-commerce and mobile payments.

Beyond core transaction processing, Mastercard offers a suite of value-added services such as fraud and risk management, identity and authentication tools, tokenization and digital wallet support, cross-border and commercial payment solutions, and data analytics and consulting services for merchants and financial partners.