Mastercard Incorporated $MA is Dock Street Asset Management Inc.'s 7th Largest Position

Key Points

• Dock Street Asset Management Inc. increased its stake in Mastercard by 2.9%, making it the firm's 7th largest position, valued at approximately $43.5 million.
• Mastercard reported a quarterly earnings per share of $4.15, surpassing expectations, with a significant revenue growth of 16.8% year-over-year, totaling $8.13 billion.
• The company announced a quarterly dividend of $0.76 per share, equating to an annual yield of 0.5%, with a payout ratio of 20.50% as of the latest filing.

Dock Street Asset Management Inc. raised its position in Mastercard Incorporated (NYSE:MA - Free Report) by 2.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 77,462 shares of the credit services provider's stock after buying an additional 2,151 shares during the period. Mastercard comprises 4.1% of Dock Street Asset Management Inc.'s investment portfolio, making the stock its 7th biggest position. Dock Street Asset Management Inc.'s holdings in Mastercard were worth $43,529,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in shares of Mastercard by 42.3% during the fourth quarter. Brighton Jones LLC now owns 6,824 shares of the credit services provider's stock worth $3,594,000 after purchasing an additional 2,028 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Mastercard by 19.9% during the first quarter. GAMMA Investing LLC now owns 15,007 shares of the credit services provider's stock worth $8,226,000 after purchasing an additional 2,493 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Mastercard by 13.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 316,790 shares of the credit services provider's stock worth $173,640,000 after purchasing an additional 37,947 shares in the last quarter. Grove Bank & Trust increased its stake in shares of Mastercard by 11.4% during the first quarter. Grove Bank & Trust now owns 10,464 shares of the credit services provider's stock worth $5,736,000 after purchasing an additional 1,074 shares in the last quarter. Finally, Blackston Financial Advisory Group LLC increased its stake in shares of Mastercard by 19.7% during the first quarter. Blackston Financial Advisory Group LLC now owns 639 shares of the credit services provider's stock worth $350,000 after purchasing an additional 105 shares in the last quarter. Hedge funds and other institutional investors own 97.28% of the company's stock.

Mastercard Stock Performance

NYSE:MA opened at $567.88 on Wednesday. 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 firm has a market capitalization of $513.37 billion, a price-to-earnings ratio of 38.29, a PEG ratio of 2.29 and a beta of 0.97. The company's 50-day moving average is $580.83 and its two-hundred day moving average is $563.06. Mastercard Incorporated has a 1-year low of $465.59 and a 1-year high of $601.77.

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 for the quarter, beating the consensus estimate of $4.05 by $0.10. The company had revenue of $8.13 billion for the quarter, compared to analyst estimates of $7.95 billion. Mastercard had a net margin of 44.93% and a return on equity of 200.01%. Mastercard's revenue was up 16.8% on a year-over-year basis. During the same period in the previous year, the business posted $3.50 EPS. Analysts forecast that Mastercard Incorporated will post 15.91 EPS for the current year.

Mastercard Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Thursday, October 9th will be issued a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 0.5%. The ex-dividend date is Thursday, October 9th. Mastercard's payout ratio is presently 20.50%.

Insiders Place Their Bets

In other Mastercard news, CFO J. Mehra Sachin sold 17,816 shares of the business's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $586.89, for a total value of $10,456,032.24. Following the transaction, the chief financial officer directly owned 31,234 shares in the company, valued at $18,330,922.26. The trade was a 36.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.09% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Truist Financial cut their target price on shares of Mastercard from $640.00 to $612.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Mastercard in a research report on Thursday, July 17th. They set a "buy" rating and a $650.00 price target on the stock. Wall Street Zen lowered shares of Mastercard from a "buy" rating to a "hold" rating in a research report on Friday, September 26th. Royal Bank Of Canada boosted their price target on shares of Mastercard from $650.00 to $656.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Finally, KeyCorp boosted their price target on shares of Mastercard from $635.00 to $660.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Mastercard currently has an average rating of "Buy" and an average target price of $634.04.

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.

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