Mastercard Incorporated (NYSE:MA) Shares Purchased by Westpac Banking Corp

Key Points

• Westpac Banking Corp increased its stake in Mastercard by 19.2% in Q1, now holding 29,558 shares valued at approximately $16.2 million, making it the bank's 8th largest holding.
• Recent insider transactions show Raj Seshadri sold 1,100 shares at an average price of $546.77, indicating a 7.85% decrease in his position.
• Mastercard reported $4.15 EPS in its last quarter, exceeding estimates, with revenues of $8.13 billion, marking a 16.8% increase year-over-year.

Westpac Banking Corp lifted its stake in shares of Mastercard Incorporated (NYSE:MA - Free Report) by 19.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 29,558 shares of the credit services provider's stock after acquiring an additional 4,771 shares during the period. Mastercard accounts for approximately 1.2% of Westpac Banking Corp's portfolio, making the stock its 8th biggest position. Westpac Banking Corp's holdings in Mastercard were worth $16,201,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Accredited Investors Inc. boosted its holdings in Mastercard by 2.6% during the 1st quarter. Accredited Investors Inc. now owns 718 shares of the credit services provider's stock valued at $394,000 after acquiring an additional 18 shares during the period. Wealthstream Advisors Inc. boosted its stake in shares of Mastercard by 2.9% in the 1st quarter. Wealthstream Advisors Inc. now owns 632 shares of the credit services provider's stock valued at $347,000 after buying an additional 18 shares during the period. Phillips Wealth Planners LLC boosted its stake in shares of Mastercard by 1.8% in the 1st quarter. Phillips Wealth Planners LLC now owns 1,055 shares of the credit services provider's stock valued at $538,000 after buying an additional 19 shares during the period. Alta Wealth Advisors LLC boosted its stake in shares of Mastercard by 3.6% in the 1st quarter. Alta Wealth Advisors LLC now owns 540 shares of the credit services provider's stock valued at $296,000 after buying an additional 19 shares during the period. Finally, May Hill Capital LLC boosted its stake in shares of Mastercard by 2.0% in the 1st quarter. May Hill Capital LLC now owns 986 shares of the credit services provider's stock valued at $540,000 after buying an additional 19 shares during the period. Hedge funds and other institutional investors own 97.28% of the company's stock.

Mastercard Price Performance

Shares of NYSE:MA traded down $1.70 on Friday, hitting $582.06. The company had a trading volume of 2,263,548 shares, compared to its average volume of 2,818,094. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 2.41. Mastercard Incorporated has a 52-week low of $461.90 and a 52-week high of $594.71. The business has a 50 day moving average of $563.46 and a 200 day moving average of $554.40. The company has a market cap of $526.19 billion, a PE ratio of 39.25, a PEG ratio of 2.37 and a beta of 1.03.

Mastercard (NYSE:MA - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The credit services provider reported $4.15 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 200.01% and a net margin of 44.93%. The business's revenue was up 16.8% on a year-over-year basis. During the same period in the prior year, the business earned $3.50 earnings per share. As a group, equities analysts anticipate that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Announces Dividend

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

Insiders Place Their Bets

In other Mastercard news, Director Julius Genachowski sold 312 shares of the company's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $570.67, for a total transaction of $178,049.04. Following the completion of the sale, the director directly owned 8,469 shares in the company, valued at $4,833,004.23. This represents a 3.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Linda Pistecchia Kirkpatrick sold 959 shares of the company's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $572.86, for a total value of $549,372.74. Following the sale, the insider owned 25,540 shares of the company's stock, valued at $14,630,844.40. This represents a 3.62% 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 owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on MA shares. Wells Fargo & Company lifted their price objective on Mastercard from $625.00 to $650.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Deutsche Bank Aktiengesellschaft started coverage on Mastercard in a research note on Thursday, July 17th. They issued a "buy" rating and a $650.00 price objective for the company. Citigroup lifted their price objective on Mastercard from $650.00 to $652.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Seaport Res Ptn upgraded Mastercard from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 14th. Finally, Jefferies Financial Group reissued a "buy" rating on shares of Mastercard in a research report on Friday, June 6th. Five equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Mastercard presently has an average rating of "Moderate Buy" and an average target price of $617.93.

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.