LGT Fund Management Co Ltd. Lowers Stock Holdings in Mastercard Incorporated (NYSE:MA)

Key Points

• LGT Fund Management Co Ltd. has decreased its stake in Mastercard by 16.3%, holding 14,044 shares valued at approximately $7.70 million as of the end of the latest reporting period.
• Mastercard's recent quarterly earnings surpassed expectations, with an EPS of $4.15 and revenue of $8.13 billion, marking a 16.8% increase from the same quarter last year.
• The company has a strong analyst outlook, with an average rating of "Moderate Buy" and a price target increase from various firms, indicating continued confidence in its financial performance.

LGT Fund Management Co Ltd. lowered its position in Mastercard Incorporated (NYSE:MA - Free Report) by 16.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,044 shares of the credit services provider's stock after selling 2,725 shares during the quarter. LGT Fund Management Co Ltd.'s holdings in Mastercard were worth $7,698,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased 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 worth $42,503,787,000 after purchasing an additional 365,537 shares during the period. Northern Trust Corp increased its stake in Mastercard by 15.2% in the fourth quarter. Northern Trust Corp now owns 9,149,181 shares of the credit services provider's stock valued at $4,817,684,000 after acquiring an additional 1,207,787 shares during the last quarter. GAMMA Investing LLC increased its stake in 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 acquiring an additional 8,213,123 shares during the last quarter. Nuveen LLC bought a new position in Mastercard in the first quarter valued at $4,238,764,000. Finally, Nuveen Asset Management LLC increased its stake in Mastercard by 1.0% in the fourth quarter. Nuveen Asset Management LLC now owns 7,610,333 shares of the credit services provider's stock valued at $4,007,373,000 after acquiring an additional 71,874 shares during the last quarter. Institutional investors own 97.28% of the company's stock.

Mastercard Trading Up 1.1%

Shares of NYSE MA traded up $6.24 during trading hours on Thursday, hitting $584.14. The company's stock had a trading volume of 2,642,031 shares, compared to its average volume of 2,587,297. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a market cap of $528.07 billion, a price-to-earnings ratio of 39.39, a P/E/G ratio of 2.37 and a beta of 1.03. Mastercard Incorporated has a 12 month low of $461.90 and a 12 month high of $594.71. The business has a 50-day simple moving average of $563.46 and a 200-day simple moving average of $554.40.

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

Mastercard Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Shareholders 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 annualized dividend and a yield of 0.5%. Mastercard's dividend payout ratio (DPR) is 20.50%.

Insider Activity at Mastercard

In other Mastercard news, insider Linda Pistecchia Kirkpatrick sold 958 shares of the firm's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $560.00, for a total value of $536,480.00. Following the completion of the sale, the insider directly owned 23,624 shares in the company, valued at $13,229,440. This trade represents a 3.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Craig Vosburg sold 9,428 shares of the firm's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $353.05, for a total transaction of $3,328,555.40. Following the completion of the sale, the insider owned 58,451 shares of the company's stock, valued at $20,636,125.55. This trade represents a 13.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,453 shares of company stock valued at $20,178,667. 0.09% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on MA shares. UBS Group increased their target price on Mastercard from $660.00 to $670.00 and gave the company a "buy" rating in a research note on Tuesday, June 3rd. Truist Financial reduced their target price on Mastercard from $640.00 to $612.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. Wells Fargo & Company increased their target price on Mastercard from $625.00 to $650.00 and gave the company an "overweight" rating in a research note 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 research note on Friday, May 2nd. Finally, KeyCorp increased 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. Five investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Mastercard currently has an average rating of "Moderate Buy" and an average target price of $615.33.

Mastercard 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.