Bank of New York Mellon Corp Reduces Stock Position in Mastercard Incorporated $MA

Bank of New York Mellon Corp reduced its position in Mastercard Incorporated (NYSE:MA) by 4.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,417,442 shares of the credit services provider’s stock after selling 357,980 shares during the period. Mastercard comprises 0.7% of Bank of New York Mellon Corp’s investment portfolio, making the stock its 17th biggest position. Bank of New York Mellon Corp owned approximately 0.83% of Mastercard worth $3,706,199,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Illinois Municipal Retirement Fund increased its position in shares of Mastercard by 9.7% in the first quarter. Illinois Municipal Retirement Fund now owns 78,712 shares of the credit services provider’s stock valued at $39,329,000 after buying an additional 6,937 shares in the last quarter. Nolet Wealth Management LLC boosted its position in shares of Mastercard by 9.4% in the 1st quarter. Nolet Wealth Management LLC now owns 688 shares of the credit services provider’s stock worth $344,000 after buying an additional 59 shares in the last quarter. Journey Advisory Group LLC boosted its position in shares of Mastercard by 16.7% in the 1st quarter. Journey Advisory Group LLC now owns 3,212 shares of the credit services provider’s stock worth $1,605,000 after buying an additional 459 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in Mastercard by 1.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 6,375 shares of the credit services provider’s stock valued at $3,186,000 after acquiring an additional 68 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. increased its holdings in Mastercard by 31.1% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,930 shares of the credit services provider’s stock valued at $963,000 after acquiring an additional 458 shares in the last quarter. 97.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Robert W. Baird lifted their price objective on Mastercard from $660.00 to $680.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Susquehanna lowered their target price on Mastercard from $670.00 to $665.00 and set a “positive” rating on the stock in a report on Friday, May 1st. Raymond James Financial set a $609.00 price target on Mastercard in a research report on Friday, May 1st. Wall Street Zen cut Mastercard from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Royal Bank Of Canada decreased their price objective on Mastercard from $656.00 to $629.00 and set an “outperform” rating on the stock in a research note on Friday, May 1st. Seven investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $653.78.

Mastercard News Roundup

Here are the key news stories impacting Mastercard this week:

• Positive Sentiment: Baird raised its price target on Mastercard to $680 from $660 and kept an Outperform rating, citing expectations for revenue growth to accelerate as comparisons ease. Baird Raises PT on Mastercard (MA) Stock
• Positive Sentiment: Barclays initiated coverage with an Overweight rating and a $640 price target, reinforcing Wall Street confidence in Mastercard’s long-term earnings power after a sector reset. Barclays Initiates Mastercard (MA) Coverage at Overweight
• Positive Sentiment: Several partnerships and network developments show Mastercard’s payment rails remain widely used, including RAKBANK strengthening its relationship with Mastercard and Kraken rolling out a Mastercard crypto debit card in the UK and Europe. RAKBANK and Mastercard strengthen strategic relationship to drive payments innovation Kraken rolls out Mastercard crypto debit card in UK and Europe
• Neutral Sentiment: The House passed a bill that would restrict how payment networks classify firearms retailers, which could create compliance changes for Mastercard but is not yet final law. Congress Vote: The House has passed H.R. 1181 – Protecting Privacy in Purchases Act
• Neutral Sentiment: Mastercard-related commentary also pointed to ongoing value in the business model, with one analysis saying “the moat remains intact,” while another article noted Mastercard stock looks richer after recent gains and faces pressure from regulation and new competition. The Moat Remains Intact Mastercard (MA) Stock Looks Overvalued On Regulatory Pressure And New Competition

Mastercard Stock Down 0.5%

MA opened at $535.47 on Thursday. The firm has a 50 day moving average price of $502.03 and a 200 day moving average price of $516.24. The company has a market cap of $473.14 billion, a PE ratio of 30.99, a price-to-earnings-growth ratio of 1.68 and a beta of 0.73. Mastercard Incorporated has a 1 year low of $464.52 and a 1 year high of $601.77. The company has a debt-to-equity ratio of 2.56, a quick ratio of 0.98 and a current ratio of 0.98.

Mastercard (NYSE:MA) last announced its quarterly earnings results on Thursday, April 30th. The credit services provider reported $4.60 earnings per share for the quarter, topping analysts’ consensus estimates of $4.41 by $0.19. The firm had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.26 billion. Mastercard had a net margin of 45.88% and a return on equity of 212.96%. The firm’s revenue was up 15.8% on a year-over-year basis. During the same period in the prior year, the company earned $3.73 EPS. Sell-side analysts expect that Mastercard Incorporated will post 19.62 earnings per share for the current year.

Mastercard Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Thursday, July 9th will be issued a dividend of $0.87 per share. The ex-dividend date is Thursday, July 9th. This represents a $3.48 annualized dividend and a yield of 0.6%. Mastercard’s payout ratio is currently 20.14%.

Insider Activity at Mastercard

In other news, insider Sandra A. Arkell sold 200 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $540.00, for a total transaction of $108,000.00. Following the completion of the sale, the insider owned 3,322 shares of the company’s stock, valued at approximately $1,793,880. This trade represents a 5.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Raj Seshadri sold 1,977 shares of Mastercard stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $529.73, for a total transaction of $1,047,276.21. Following the completion of the sale, the insider owned 16,429 shares of the company’s stock, valued at approximately $8,702,934.17. This trade represents a 10.74% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 7,005 shares of company stock worth $3,689,976 over the last 90 days. 0.09% of the stock is owned by company insiders.

Mastercard Company 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.