BTC Capital Management Inc. Increases Stock Holdings in Mastercard Incorporated $MA

Key Points

• BTC Capital Management Inc. increased its stake in Mastercard by 2.0%, now holding 25,401 shares valued at approximately $14.26 million.
• Mastercard reported earnings of $4.15 per share for the last quarter, surpassing analysts' expectations, with revenue up 16.8% year-over-year.
• The company declared a quarterly dividend of $0.76 per share, set to be paid on November 7th, with a current dividend yield of 0.5%.

BTC Capital Management Inc. grew its stake in shares of Mastercard Incorporated (NYSE:MA - Free Report) by 2.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,401 shares of the credit services provider's stock after buying an additional 507 shares during the period. Mastercard accounts for 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 and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of MA. Vanguard Group Inc. grew its holdings in shares of Mastercard by 0.5% in the first quarter. Vanguard Group Inc. now owns 77,544,675 shares of the credit services provider's stock valued at $42,503,787,000 after purchasing an additional 365,537 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in shares of Mastercard in the second quarter valued at $11,421,213,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Mastercard by 4.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,096,979 shares of the credit services provider's stock valued at $11,015,557,000 after purchasing an additional 907,184 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Mastercard by 38.6% in the first quarter. Wellington Management Group LLP now owns 13,526,118 shares of the credit services provider's stock valued at $7,413,936,000 after purchasing an additional 3,765,378 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Mastercard by 65,631.5% in the first quarter. GAMMA Investing LLC now owns 8,225,637 shares of the credit services provider's stock valued at $4,508,636,000 after purchasing an additional 8,213,123 shares in the last quarter. Institutional investors own 97.28% of the company's stock.

Mastercard Stock Down 2.3%

Mastercard stock traded down $13.20 during trading hours on Tuesday, reaching $571.29. The stock had a trading volume of 1,857,039 shares, compared to its average volume of 2,782,051. The company has a market cap of $516.45 billion, a price-to-earnings ratio of 38.52, a PEG ratio of 2.39 and a beta of 0.99. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.16 and a quick ratio of 1.16. The business's 50 day moving average price is $577.86 and its 200-day moving average price is $559.42. Mastercard Incorporated has a 52 week low of $465.59 and a 52 week high of $601.77.

Mastercard (NYSE:MA - Get Free Report) last announced its earnings results on Thursday, July 31st. The credit services provider reported $4.15 EPS for the quarter, topping analysts' consensus estimates of $4.05 by $0.10. The business 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 firm's revenue was up 16.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.50 earnings per share. Sell-side analysts anticipate that Mastercard Incorporated will post 15.91 EPS for the current year.

Mastercard Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Thursday, October 9th will be paid a dividend of $0.76 per share. The ex-dividend date is Thursday, October 9th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.5%. Mastercard's payout ratio is presently 20.50%.

Insiders Place Their Bets

In related news, insider Raj Seshadri sold 1,100 shares of the company's stock in a transaction that occurred 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 sale, the insider owned 12,921 shares in the company, valued at $7,064,815.17. This represents a 7.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO J. Mehra Sachin sold 17,263 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $591.00, for a total value of $10,202,433.00. Following the completion of the sale, the chief financial officer owned 31,234 shares in the company, valued at approximately $18,459,294. This represents a 35.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,449 shares of company stock worth $21,974,441 over the last ninety days. Insiders own 0.09% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on MA shares. UBS Group lifted their price objective on shares of Mastercard from $660.00 to $670.00 and gave the stock a "buy" rating in a research note on Tuesday, June 3rd. Jefferies Financial Group reaffirmed a "buy" rating on shares of Mastercard in a research note on Friday, June 6th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Mastercard in a research note on Friday, August 1st. Seaport Res Ptn raised shares of Mastercard from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 14th. Finally, TD Cowen reaffirmed a "buy" rating and set a $645.00 price objective on shares of Mastercard in a research note on Monday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $630.89.

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.