42,852 Mastercard Incorporated $MA Shares Acquired by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments increased its Mastercard stake by 11.7% in the third quarter, adding 42,852 shares and bringing its holdings to 408,161 shares, valued at about $224.5 million. Institutional investors and hedge funds own 97.28% of the stock.
• Mastercard beat quarterly estimates, reporting $5.31 in earnings per share and $9.81 billion in revenue; revenue grew 14% year over year. The company also declared a quarterly dividend of $0.87 per share.
• Analysts’ average rating was “Moderate Buy,” with an average price target of $704.62. Company insiders sold 25,403 shares worth about $15.4 million over the prior 90 days.

Allspring Global Investments Holdings LLC raised its position in shares of Mastercard Incorporated (NYSE:MA - Free Report) by 11.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 408,161 shares of the credit services provider's stock after acquiring an additional 42,852 shares during the period. Allspring Global Investments Holdings LLC's holdings in Mastercard were worth $224,488,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Gamco Investors INC. ET AL lifted its holdings in shares of Mastercard by 5.4% during the first quarter. Gamco Investors INC. ET AL now owns 28,205 shares of the credit services provider's stock worth $14,093,000 after buying an additional 1,434 shares during the last quarter. Reynders McVeigh Capital Management LLC boosted its position in shares of Mastercard by 2.2% in the second quarter. Reynders McVeigh Capital Management LLC now owns 141,828 shares of the credit services provider's stock valued at $72,843,000 after acquiring an additional 3,006 shares during the period. Hsbc Holdings PLC boosted its position in shares of Mastercard by 5.3% in the second quarter. Hsbc Holdings PLC now owns 1,656,528 shares of the credit services provider's stock valued at $850,004,000 after acquiring an additional 82,793 shares during the period. SteelPeak Wealth LLC grew its stake in shares of Mastercard by 50.1% in the first quarter. SteelPeak Wealth LLC now owns 14,003 shares of the credit services provider's stock worth $6,996,000 after acquiring an additional 4,675 shares during the last quarter. Finally, Rockland Trust Co. grew its stake in shares of Mastercard by 6.2% in the third quarter. Rockland Trust Co. now owns 81,392 shares of the credit services provider's stock worth $44,885,000 after acquiring an additional 4,751 shares during the last quarter. 97.28% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Mastercard

In other Mastercard news, Director Julius Genachowski sold 370 shares of the business's stock in a transaction on Monday, October 12th. The shares were sold at an average price of $590.21, for a total value of $218,377.70. Following the sale, the director owned 8,237 shares of the company's stock, valued at $4,861,559.77. The trade was a 4.30% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sachin Mehra sold 3,266 shares of the stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $584.00, for a total transaction of $1,907,344.00. Following the completion of the transaction, the insider owned 36,650 shares of the company's stock, valued at approximately $21,403,600. This represents a 8.18% 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. Insiders have sold 25,403 shares of company stock valued at $15,428,736 in the last 90 days. 0.09% of the stock is currently owned by company insiders.

Mastercard Price Performance

Shares of NYSE:MA opened at $653.45 on Monday. The firm has a market capitalization of $572.43 billion, a PE ratio of 34.18, a PEG ratio of 1.84 and a beta of 0.78. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 3.29. Mastercard Incorporated has a 1-year low of $464.52 and a 1-year high of $681.99. The business's 50 day moving average is $593.15 and its 200-day moving average is $539.12.

Mastercard (NYSE:MA - Get Free Report) last issued its earnings results on Thursday, October 29th. The credit services provider reported $5.31 EPS for the quarter, beating analysts' consensus estimates of $5.17 by $0.14. The business had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.66 billion. Mastercard had a return on equity of 260.86% and a net margin of 46.73%. Mastercard's revenue was up 14.0% on a year-over-year basis. During the same period in the prior year, the company posted $4.38 earnings per share. Sell-side analysts predict that Mastercard Incorporated will post 20.00 earnings per share for the current year.

Mastercard Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Friday, October 9th will be paid a dividend of $0.87 per share. The ex-dividend date is Friday, October 9th. This represents a $3.48 dividend on an annualized basis and a yield of 0.5%. Mastercard's payout ratio is currently 18.20%.

Analysts Set New Price Targets

Several research firms recently commented on MA. Daiwa Securities Group upped their target price on shares of Mastercard from $580.00 to $650.00 and gave the company an "outperform" rating in a research note on Thursday, August 6th. KeyCorp raised their price target on shares of Mastercard from $722.00 to $735.00 and gave the stock an "overweight" rating in a research report on Friday, October 30th. Cantor Fitzgerald boosted their price objective on shares of Mastercard from $695.00 to $765.00 and gave the stock an "overweight" rating in a report on Friday, October 30th. Susquehanna upped their price objective on shares of Mastercard from $665.00 to $740.00 and gave the company a "positive" rating in a research report on Friday, October 30th. Finally, Weiss Ratings raised shares of Mastercard from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, October 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $704.62.

Trending Headlines about Mastercard

Here are the key news stories impacting Mastercard this week:

• Positive Sentiment: Q3 results beat expectations: revenue rose 14% year over year to $9.81 billion and adjusted EPS increased 21.2%. Services revenue grew 19%, although higher incentives were flagged as a concern. Mastercard's 19% Services Growth Steals the Q3 Show: Buy or Hold MA?
• Positive Sentiment: Truist raised its price target to $735 and maintained a Buy rating, signaling potential upside in its view. Truist Financial rating information
• Negative Sentiment: Freedom Broker downgraded MA from Buy to Hold, despite lifting its target to $725. The mixed call may temper enthusiasm after the stock’s recent rally. Freedom Broker rating information
• Negative Sentiment: Valuation is a key risk: coverage notes the recent rally has outpaced changes in earnings estimates, leaving less room for disappointment. Rising incentives could also weigh on margins. Mastercard Stock Rose 22% in a Month. Here’s What Its Price Now Assumes
• Negative Sentiment: Visa and Mastercard face additional collective claims in the UK over card fees, adding potential legal and financial uncertainty. Visa and Mastercard face additional £5bn collective claims over card fees
• Neutral Sentiment: The CFO sold about $2.77 million of MA shares. The sale may attract attention, but the report provides no context on its purpose. Mastercard CFO stock sale

About Mastercard

Mastercard Incorporated is a global payments technology company that operates a network connecting consumers, merchants, financial institutions, businesses and governments. Its network supports electronic payments, including transactions made with Mastercard-branded credit, debit and prepaid cards, as well as digital payment methods.

The company provides technology for authorizing, clearing and settling transactions. It also offers services related to cybersecurity, identity verification, data analytics, fraud prevention and payment consulting.

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