Entropy Technologies LP has significantly increased its investment in Mastercard Incorporated, acquiring an additional 16,329 shares during the second quarter of 2023. This move reflects a 237.3% increase in their holdings, bringing their total ownership to 23,210 shares. According to HoldingsChannel.com, Mastercard now constitutes approximately 1.0% of Entropy Technologies LP’s investment portfolio, making it their largest single holding, valued at around $13,043,000.
Institutional Investors Expand Their Stakes
Other institutional investors have also been active in adjusting their positions in Mastercard. Notably, Brighton Jones LLC increased its stake by 42.3% in the fourth quarter, now owning 6,824 shares valued at $3,594,000 following the acquisition of 2,028 shares. Similarly, Y Intercept Hong Kong Ltd entered the fray by purchasing a new stake worth approximately $1,385,000 during the first quarter.
In addition, Advisors Preferred LLC raised its holdings by 56.7%, bringing their total to 1,280 shares valued at $702,000, while Guardian Wealth Management Inc. also increased its stake by 3.8%, now owning 4,282 shares worth $2,347,000. Furthermore, Machina Capital S.A.S. lifted its holdings by an impressive 146.9%, owning 5,092 shares valued at $2,791,000 after acquiring 3,030 shares.
Collectively, institutional investors and hedge funds own 97.28% of Mastercard’s outstanding shares, reflecting a strong confidence in the company’s ongoing performance.
Current Stock Performance and Future Outlook
As of Friday, October 6, 2023, Mastercard shares opened at $528.28. The company’s fifty-day simple moving average stands at $564.12, while the two-hundred-day average is $569.23. Mastercard has recorded a twelve-month low of $465.59 and a high of $601.77. With a market capitalization of $474.39 billion, the company maintains a price-to-earnings (P/E) ratio of 35.62 and a price-to-earnings-growth (PEG) ratio of 2.27.
Mastercard also announced a quarterly dividend of $0.76 per share, paid to shareholders of record on October 9, 2023. This dividend translates to an annual yield of 0.6%, with a payout ratio currently at 19.44%.
Investment analysts are optimistic about Mastercard’s future, with several firms adjusting their price targets. Robert W. Baird raised its target from $640.00 to $660.00, maintaining an “outperform” rating. Cowen reaffirmed its “buy” rating, while Truist Financial lowered its target slightly from $638.00 to $630.00. Overall, the consensus rating for Mastercard is “Buy,” with an average price target of $652.50.
Insider Transactions and Company Overview
In related news, J. Mehra Sachin, Chief Financial Officer, sold 17,263 shares of Mastercard on September 2, 2023, at an average price of $591.00, totaling approximately $10,202,433.00. Following this transaction, Sachin retains 31,234 shares, valued at $18,459,294, representing a 35.60% decrease in his holdings. Currently, insiders own 0.09% of the company’s stock.
Mastercard Incorporated is a technology company that provides transaction processing and a variety of payment-related products and services globally. The firm supports account holders, merchants, financial institutions, and digital partners with integrated solutions that facilitate consumer credit, payment products, and commercial credit options.
For more updates on Mastercard and other financial insights, please visit HoldingsChannel.com.
