Bank Pictet & Cie Europe AG Buys 5,783 Shares of Mastercard Incorporated $MA

Key Points

• Bank Pictet & Cie Europe AG increased its Mastercard stake by 14.5% in the second quarter, purchasing 5,783 shares and bringing its holdings to 45,598 shares valued at approximately $23.4 million. Institutional investors collectively own 97.28% of Mastercard.
• Analysts remain broadly bullish, with a consensus rating of “Buy” and an average price target of $661.93. Several brokerages recently raised their targets to between $632 and $680.
• Mastercard exceeded quarterly expectations, reporting $5.04 in earnings per share and $9.28 billion in revenue, while year-over-year revenue increased 14.1%. The company also paid a quarterly dividend of $0.87, equivalent to a 0.6% annualized yield.

Bank Pictet & Cie Europe AG lifted its stake in Mastercard Incorporated (NYSE:MA - Free Report) by 14.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 45,598 shares of the credit services provider's stock after buying an additional 5,783 shares during the quarter. Bank Pictet & Cie Europe AG's holdings in Mastercard were worth $23,419,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MA. Robinswood Financial LLC bought a new stake in Mastercard in the 1st quarter valued at $25,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of 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 valued at $26,000 after purchasing an additional 41 shares during the last quarter. Strive Financial Group LLC bought a new position in shares of Mastercard during the 4th quarter valued at about $27,000. Hyposwiss Advisors SA bought a new position in shares of Mastercard during the 4th quarter valued at about $29,000. Finally, First Pacific Financial grew its position in shares of Mastercard by 113.8% during the first quarter. First Pacific Financial now owns 62 shares of the credit services provider's stock valued at $31,000 after purchasing an additional 33 shares in the last quarter. Institutional investors own 97.28% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MA. KeyCorp lifted their target price on Mastercard from $670.00 to $680.00 and gave the stock an "overweight" rating in a report on Friday, July 31st. Raymond James Financial reissued an "outperform" rating and set a $632.00 price target on shares of Mastercard in a research note on Friday, July 31st. Truist Financial raised their price target on Mastercard from $554.00 to $633.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. TD Cowen lifted their price objective on Mastercard from $664.00 to $667.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Finally, Robert W. Baird upped their price objective on Mastercard from $660.00 to $680.00 and gave the stock an "outperform" rating in a report on Tuesday, July 7th. Five research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $661.93.

Mastercard Stock Down 1.1%

NYSE MA opened at $563.01 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 3.96. Mastercard Incorporated has a 52 week low of $464.52 and a 52 week high of $601.77. The firm has a market capitalization of $493.20 billion, a price-to-earnings ratio of 30.97, a PEG ratio of 1.71 and a beta of 0.71. The company has a fifty day moving average of $531.91 and a two-hundred day moving average of $516.78.

Mastercard (NYSE:MA - Get Free Report) last announced its earnings results on Thursday, July 30th. The credit services provider reported $5.04 earnings per share for the quarter, beating the consensus estimate of $4.77 by $0.27. The business had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.08 billion. Mastercard had a net margin of 46.34% and a return on equity of 239.99%. The business's revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.15 earnings per share. On average, analysts predict that Mastercard Incorporated will post 19.84 earnings per share for the current year.

Mastercard Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Thursday, July 9th were given a $0.87 dividend. 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 dividend payout ratio is 19.14%.

Insider Buying and Selling

In other Mastercard news, insider Raj Seshadri sold 1,977 shares of the firm's stock in a transaction dated 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 sale, the insider owned 16,429 shares of the company's stock, valued at $8,702,934.17. This trade represents a 10.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider J. Mehra Sachin sold 3,000 shares of the business's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $571.87, for a total value of $1,715,610.00. Following the transaction, the insider owned 40,916 shares of the company's stock, valued at $23,398,632.92. This trade represents a 6.83% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 62,913 shares of company stock worth $35,769,036 over the last three months. 0.09% of the stock is currently owned by company insiders.

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.

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