Earned Wealth Advisors LLC has increased its holdings in Mastercard Incorporated (NYSE: MA) by 13.4% during the second quarter of 2024. According to a recent filing with the Securities and Exchange Commission, the firm now owns 1,559 shares of the credit services provider after acquiring an additional 184 shares during the period. At the close of the most recent quarter, these holdings were valued at approximately $876,000.
Several other institutional investors have also made significant adjustments to their positions in Mastercard. Kingstone Capital Partners Texas LLC acquired a new stake in the company worth approximately $11.42 billion during the second quarter. Meanwhile, Nuveen LLC purchased a stake valued at $4.24 billion in the first quarter. Wellington Management Group LLP increased its stake in Mastercard by 38.6% during the same period, owning 13,526,118 shares valued at around $7.41 billion after adding another 3,765,378 shares.
Additionally, Assenagon Asset Management S.A. made a notable increase of 3,493.6% in its holdings during the second quarter, now owning 934,110 shares valued at $524.91 million. Price T Rowe Associates Inc. also raised its stake by 4.7% in the first quarter, bringing its total to 20,096,979 shares worth approximately $11.02 billion. Collectively, institutional investors and hedge funds hold 97.28% of Mastercard’s stock.
Current Stock Performance and Dividend Announcement
As of the latest trading session, Mastercard shares opened at $554.26. The company’s stock has experienced a 52-week low of $465.59 and a high of $601.77. Key financial metrics include a debt-to-equity ratio of 2.41 and a current ratio of 1.16. Mastercard has a market capitalization of $501.05 billion and a price-to-earnings ratio of 37.37.
In addition to its stock performance, Mastercard has announced a quarterly dividend of $0.76 per share, scheduled for payment on November 7, 2024. Shareholders on record as of October 9, 2024 will be eligible for this dividend. This represents an annualized dividend of $3.04 with a yield of 0.5%. Currently, Mastercard’s payout ratio stands at 20.50%.
Analysts’ Ratings and Insider Transactions
Recent reports from various equities research analysts have provided insights into Mastercard’s stock outlook. KeyCorp has maintained an “overweight” rating with a price target of $665.00, while Goldman Sachs has reiterated a “buy” rating with a target of $713.00. Robert W. Baird also raised its price target from $640.00 to $660.00, assigning an “outperform” rating.
MarketBeat.com indicates that Mastercard currently holds a consensus rating of “Buy” with an average price target of $641.93. Notably, five analysts have rated the stock as a Strong Buy, while twenty-two have assigned a Buy rating.
In a related insider transaction, Chief Financial Officer J. Mehra Sachin sold 17,816 shares of Mastercard on August 19, 2024, for a total value of approximately $10.46 million at an average price of $586.89. Following this sale, Sachin retains 31,234 shares, valued at around $18.33 million. This transaction represents a 36.32% decrease in his position.
About Mastercard Incorporated
Mastercard Incorporated is a global technology company specializing in transaction processing and payment-related services. The firm provides a range of integrated products for account holders, merchants, financial institutions, and governments. Its offerings include various payment solutions and programs aimed at enhancing consumer experiences and facilitating transactions across different platforms.
This information reflects recent developments regarding Mastercard’s financial standing and investor activity, underscoring the significant interest in the company’s stock amid a dynamic market environment.
