Mastercard Incorporated $MA Shares Bought by ICONIQ Capital LLC

Key Points

• ICONIQ Capital LLC increased its stake in Mastercard by 23.4%, totaling 4,280 shares valued at approximately $2.35 million by the end of the first quarter.
• Mastercard reported $4.15 EPS for the latest quarter, surpassing analysts' expectations of $4.05, with revenue also increasing 16.8% year-over-year.
• The company recently declared a quarterly dividend of $0.76 per share, representing an annual yield of 0.5% and a payout ratio of 20.50%.

ICONIQ Capital LLC lifted its holdings in Mastercard Incorporated (NYSE:MA - Free Report) by 23.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,280 shares of the credit services provider's stock after buying an additional 813 shares during the period. ICONIQ Capital LLC's holdings in Mastercard were worth $2,346,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake 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 worth $42,503,787,000 after buying an additional 365,537 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Mastercard by 4.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,096,979 shares of the credit services provider's stock worth $11,015,557,000 after purchasing an additional 907,184 shares during the period. Wellington Management Group LLP raised its stake in Mastercard by 38.6% during the first quarter. Wellington Management Group LLP now owns 13,526,118 shares of the credit services provider's stock worth $7,413,936,000 after purchasing an additional 3,765,378 shares during the period. Northern Trust Corp raised its stake in Mastercard by 15.2% during the fourth quarter. Northern Trust Corp now owns 9,149,181 shares of the credit services provider's stock worth $4,817,684,000 after purchasing an additional 1,207,787 shares during the period. Finally, GAMMA Investing LLC raised its stake in Mastercard by 65,631.5% during the first quarter. GAMMA Investing LLC now owns 8,225,637 shares of the credit services provider's stock worth $4,508,636,000 after purchasing an additional 8,213,123 shares during the period. 97.28% of the stock is owned by hedge funds and other institutional investors.

Mastercard Trading Down 0.1%

Shares of Mastercard stock traded down $0.33 on Tuesday, reaching $592.88. The company had a trading volume of 4,774,273 shares, compared to its average volume of 2,641,885. The firm's 50 day moving average price is $565.00 and its two-hundred day moving average price is $556.05. The firm has a market cap of $535.97 billion, a PE ratio of 39.98, a PEG ratio of 2.43 and a beta of 1.03. Mastercard Incorporated has a 52-week low of $465.59 and a 52-week high of $601.77. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.16 and a current ratio of 1.16.

Mastercard (NYSE:MA - Get Free Report) last released its quarterly earnings results 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 business had revenue of $8.13 billion for 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 was up 16.8% on a year-over-year basis. During the same period in the previous year, the firm earned $3.50 EPS. Sell-side analysts predict that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Wednesday, July 9th were issued a $0.76 dividend. The ex-dividend date was Wednesday, July 9th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.5%. Mastercard's payout ratio is 20.50%.

Insider Transactions at Mastercard

In related news, insider Craig Vosburg sold 14,051 shares of Mastercard stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $585.05, for a total value of $8,220,537.55. Following the completion of the transaction, the insider owned 58,451 shares in the company, valued at approximately $34,196,757.55. The trade was a 19.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Linda Pistecchia Kirkpatrick sold 959 shares of Mastercard stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $572.86, for a total transaction of $549,372.74. Following the completion of the transaction, the insider owned 25,540 shares of the company's stock, valued at $14,630,844.40. This trade represents a 3.62% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 56,269 shares of company stock valued at $30,634,699. 0.09% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on MA shares. KeyCorp lifted their target price on shares of Mastercard from $635.00 to $660.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Jefferies Financial Group reaffirmed a "buy" rating on shares of Mastercard in a research note on Friday, June 6th. Macquarie reduced their target price on shares of Mastercard from $645.00 to $610.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Truist Financial reduced their target price on shares of Mastercard from $640.00 to $612.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. Finally, TD Cowen reaffirmed a "buy" rating and set a $645.00 target price on shares of Mastercard in a research note on Monday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Mastercard has a consensus rating of "Moderate Buy" and a consensus target price of $617.93.

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.