Puzo Michael J Buys Shares of 25,086 Mastercard Incorporated $MA

Key Points

• Puzo Michael J acquired 25,086 Mastercard shares worth approximately $12.9 million during the second quarter, making Mastercard its 10th-largest holding and about 3.3% of its portfolio.
• Institutional investors own 97.28% of Mastercard, while insiders have sold 71,357 shares worth roughly $40.6 million over the past 90 days, including sales by CEO Michael Miebach and insider Raj Seshadri.
• Mastercard reported quarterly EPS of $5.04 and revenue of $9.28 billion, exceeding analyst expectations, while analysts maintain a broadly positive outlook with an average “Buy” rating and $664.71 price target.

Puzo Michael J bought a new stake in Mastercard Incorporated (NYSE:MA - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 25,086 shares of the credit services provider's stock, valued at approximately $12,884,000. Mastercard makes up approximately 3.3% of Puzo Michael J's investment portfolio, making the stock its 10th biggest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Riggs Asset Managment Co. Inc. raised its position in Mastercard by 20.0% during the second quarter. Riggs Asset Managment Co. Inc. now owns 108 shares of the credit services provider's stock valued at $61,000 after acquiring an additional 18 shares in the last quarter. Castle Rock Wealth Management LLC grew its position in Mastercard by 2.8% in the fourth quarter. Castle Rock Wealth Management LLC now owns 695 shares of the credit services provider's stock worth $387,000 after acquiring an additional 19 shares in the last quarter. Athena Wealth Management LLC grew its position in Mastercard by 3.8% in the second quarter. Athena Wealth Management LLC now owns 514 shares of the credit services provider's stock worth $264,000 after acquiring an additional 19 shares in the last quarter. Novem Group increased its stake in shares of Mastercard by 0.4% during the 2nd quarter. Novem Group now owns 4,680 shares of the credit services provider's stock worth $2,404,000 after purchasing an additional 19 shares during the last quarter. Finally, Vista Capital Partners Inc. increased its stake in shares of Mastercard by 4.5% during the 2nd quarter. Vista Capital Partners Inc. now owns 444 shares of the credit services provider's stock worth $228,000 after purchasing an additional 19 shares during the last quarter. 97.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Mastercard news, insider Raj Seshadri sold 4,828 shares of the business's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $525.00, for a total transaction of $2,534,700.00. Following the transaction, the insider owned 16,429 shares of the company's stock, valued at $8,625,225. The trade was a 22.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Miebach sold 16,628 shares of the company's stock in a transaction on Friday, July 31st. The stock was sold at an average price of $567.68, for a total transaction of $9,439,383.04. Following the sale, the chief executive officer directly owned 115,921 shares in the company, valued at $65,806,033.28. This trade represents a 12.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 71,357 shares of company stock valued at $40,637,262. Corporate insiders own 0.09% of the company's stock.

Mastercard Price Performance

Shares of MA stock opened at $598.69 on Wednesday. The firm has a market cap of $524.46 billion, a price-to-earnings ratio of 32.93, a PEG ratio of 1.80 and a beta of 0.72. Mastercard Incorporated has a 12 month low of $464.52 and a 12 month high of $601.62. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 3.96. The stock has a 50-day moving average price of $542.94 and a 200 day moving average price of $518.46.

Mastercard (NYSE:MA - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The credit services provider reported $5.04 earnings per share for the quarter, beating analysts' consensus estimates of $4.77 by $0.27. The business had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.08 billion. Mastercard had a net margin of 46.34% and a return on equity of 239.99%. Mastercard's revenue for the quarter was up 14.1% on a year-over-year basis. During the same period last year, the company posted $4.15 EPS. Research analysts expect that Mastercard Incorporated will post 19.86 EPS for the current year.

Mastercard Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Thursday, July 9th were issued a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 0.6%. The ex-dividend date was Thursday, July 9th. Mastercard's dividend payout ratio is presently 19.14%.

Analyst Upgrades and Downgrades

MA has been the subject of a number of recent analyst reports. Cantor Fitzgerald upped their target price on Mastercard from $650.00 to $695.00 and gave the stock an "overweight" rating in a research report on Monday, August 3rd. Truist Financial lifted their price objective on Mastercard from $554.00 to $633.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Keefe, Bruyette & Woods raised their price objective on shares of Mastercard from $665.00 to $685.00 and gave the stock an "outperform" rating in a research note on Friday, July 31st. Piper Sandler initiated coverage on shares of Mastercard in a research report on Monday, June 29th. They set an "overweight" rating and a $597.00 target price on the stock. Finally, Barclays upped their target price on shares of Mastercard from $640.00 to $660.00 and gave the company an "overweight" rating in a research note on Friday, July 31st. Five analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $664.71.

Mastercard Profile

Mastercard Incorporated is a global payments technology company that operates a network connecting consumers, financial institutions, merchants, governments and businesses in more than 200 countries and territories. The company facilitates electronic payments and transaction processing for credit, debit and prepaid card products carrying the Mastercard brand, while also providing a range of payment-related services to issuers, acquirers and merchants. Its technology and network enable authorization, clearing and settlement of payments and support a broad set of use cases including point-of-sale, e-commerce and mobile payments.

Beyond core transaction processing, Mastercard offers a suite of value-added services such as fraud and risk management, identity and authentication tools, tokenization and digital wallet support, cross-border and commercial payment solutions, and data analytics and consulting services for merchants and financial partners.

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