Jupiter Asset Management Ltd. Acquires 2,689 Shares of Mastercard Incorporated (NYSE:MA)

Key Points

• Jupiter Asset Management Ltd. increased its stake in Mastercard by 1.9%, owning a total of 146,151 shares valued at approximately $80.1 million, making Mastercard the firm's 22nd largest position.
• Mastercard recently reported earnings of $4.15 EPS for the quarter, exceeding estimates, with a revenue of $8.13 billion, marking a year-over-year increase of 16.8%.
• Several analysts have upgraded Mastercard's stock rating, with an average target price of $615.33, reflecting a strong consensus towards the stock's growth potential.

Jupiter Asset Management Ltd. raised its stake in shares of Mastercard Incorporated (NYSE:MA - Free Report) by 1.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 146,151 shares of the credit services provider's stock after purchasing an additional 2,689 shares during the period. Mastercard accounts for 0.8% of Jupiter Asset Management Ltd.'s portfolio, making the stock its 22nd largest holding. Jupiter Asset Management Ltd.'s holdings in Mastercard were worth $80,108,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Accredited Investors Inc. lifted its position in Mastercard by 2.6% in the first quarter. Accredited Investors Inc. now owns 718 shares of the credit services provider's stock worth $394,000 after purchasing an additional 18 shares during the period. Wealthstream Advisors Inc. lifted its position in Mastercard by 2.9% in the first quarter. Wealthstream Advisors Inc. now owns 632 shares of the credit services provider's stock worth $347,000 after purchasing an additional 18 shares during the period. Phillips Wealth Planners LLC lifted its position in Mastercard by 1.8% in the first quarter. Phillips Wealth Planners LLC now owns 1,055 shares of the credit services provider's stock worth $538,000 after purchasing an additional 19 shares during the period. Alta Wealth Advisors LLC lifted its position in Mastercard by 3.6% in the first quarter. Alta Wealth Advisors LLC now owns 540 shares of the credit services provider's stock worth $296,000 after purchasing an additional 19 shares during the period. Finally, May Hill Capital LLC raised its stake in Mastercard by 2.0% during the first quarter. May Hill Capital LLC now owns 986 shares of the credit services provider's stock worth $540,000 after acquiring an additional 19 shares in the last quarter. Institutional investors and hedge funds own 97.28% of the company's stock.

Mastercard Stock Performance

Mastercard stock traded up $3.14 during mid-day trading on Wednesday, reaching $569.18. 2,234,597 shares of the company's stock were exchanged, compared to its average volume of 2,830,677. The business's fifty day simple moving average is $564.52 and its 200 day simple moving average is $552.56. The firm has a market capitalization of $518.93 billion, a PE ratio of 38.38, a P/E/G ratio of 2.43 and a beta of 1.03. Mastercard Incorporated has a one year low of $449.04 and a one year high of $594.71. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 2.41.

Mastercard (NYSE:MA - Get Free Report) last posted its earnings results on Thursday, July 31st. The credit services provider reported $4.15 EPS for the quarter, topping the consensus estimate of $4.05 by $0.10. Mastercard had a return on equity of 200.01% and a net margin of 44.93%. The business had revenue of $8.13 billion during the quarter, compared to analysts' expectations of $7.95 billion. During the same period in the previous year, the business earned $3.50 earnings per share. The firm's revenue was up 16.8% on a year-over-year basis. On average, sell-side analysts expect that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Wednesday, July 9th will be given a $0.76 dividend. The ex-dividend date of this dividend is Wednesday, July 9th. This represents a $3.04 annualized dividend and a dividend yield of 0.5%. Mastercard's dividend payout ratio is currently 20.50%.

Insider Transactions at Mastercard

In related news, insider Craig Vosburg sold 14,051 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $585.05, for a total value of $8,220,537.55. Following the transaction, the insider directly owned 58,451 shares of the company's stock, valued at approximately $34,196,757.55. This trade represents a 19.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Julius Genachowski sold 312 shares of the firm's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $570.67, for a total value of $178,049.04. Following the sale, the director directly owned 8,469 shares in the company, valued at approximately $4,833,004.23. This represents a 3.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,753 shares of company stock worth $20,351,084 over the last 90 days. 0.09% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on MA shares. KeyCorp raised their target price on Mastercard from $635.00 to $660.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Deutsche Bank Aktiengesellschaft assumed coverage on Mastercard in a report on Thursday, July 17th. They issued a "buy" rating and a $650.00 price target on the stock. Wells Fargo & Company raised their price target on Mastercard from $625.00 to $650.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Macquarie reduced their target price on Mastercard from $645.00 to $610.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Finally, Wolfe Research set a $655.00 price objective on Mastercard in a report on Monday, June 23rd. Five research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $615.33.

About Mastercard

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.