Mastercard Incorporated $MA Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. grew its position in shares of Mastercard Incorporated (NYSE:MA) by 0.5% during the first quarter, HoldingsChannel reports. The firm owned 830,341 shares of the credit services provider’s stock after buying an additional 4,231 shares during the period. PNC Financial Services Group Inc.’s holdings in Mastercard were worth $414,888,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Oslo Pensjonsforsikring AS acquired a new stake in shares of Mastercard during the first quarter valued at about $1,368,000. Mathes Company Inc. lifted its stake in shares of Mastercard by 2.9% in the first quarter. Mathes Company Inc. now owns 7,594 shares of the credit services provider’s stock worth $3,794,000 after acquiring an additional 215 shares in the last quarter. Burling Wealth Partners LLC lifted its stake in shares of Mastercard by 0.8% in the first quarter. Burling Wealth Partners LLC now owns 20,576 shares of the credit services provider’s stock worth $10,281,000 after acquiring an additional 158 shares in the last quarter. Andra AP fonden boosted its holdings in Mastercard by 10.7% in the first quarter. Andra AP fonden now owns 139,489 shares of the credit services provider’s stock valued at $69,697,000 after purchasing an additional 13,428 shares during the last quarter. Finally, Wilkerson Advisory Group LLC boosted its holdings in Mastercard by 32.7% in the first quarter. Wilkerson Advisory Group LLC now owns 414 shares of the credit services provider’s stock valued at $207,000 after purchasing an additional 102 shares during the last quarter. 97.28% of the stock is owned by institutional investors and hedge funds.

Mastercard Trading Down 1.8%

Shares of NYSE MA opened at $537.33 on Wednesday. The stock’s 50 day moving average price is $505.73 and its two-hundred day moving average price is $515.35. Mastercard Incorporated has a 52-week low of $464.52 and a 52-week high of $601.77. The stock has a market capitalization of $474.78 billion, a P/E ratio of 31.10, a PEG ratio of 1.71 and a beta of 0.73. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 2.56.

Mastercard (NYSE:MA) last released its earnings results on Thursday, April 30th. The credit services provider reported $4.60 EPS for the quarter, topping analysts’ consensus estimates of $4.41 by $0.19. Mastercard had a return on equity of 212.96% and a net margin of 45.88%.The company had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.26 billion. During the same quarter last year, the business posted $3.73 EPS. Mastercard’s quarterly revenue was up 15.8% compared to the same quarter last year. On average, analysts anticipate that Mastercard Incorporated will post 19.62 earnings per share for the current fiscal 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 $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, July 9th. Mastercard’s payout ratio is currently 20.14%.

Mastercard News Summary

Here are the key news stories impacting Mastercard this week:

• Positive Sentiment: Mastercard and Al Etihad Payments announced the first co-badged Jaywan-Mastercard credit card, a new partnership that could expand Mastercard’s footprint in the UAE and support payment-network volume growth. Al Etihad Payments, Mastercard launch world’s first Jaywan-Mastercard co-badged credit card
• Positive Sentiment: Mastercard was highlighted as a strong momentum stock, reinforcing the view that the company still has favorable fundamental and trading characteristics despite recent weakness. Here’s Why MasterCard (MA) is a Strong Momentum Stock
• Positive Sentiment: Mastercard and Lithic introduced a way to make small-business loan proceeds spend-ready, a payments-adjacent product that could deepen Mastercard’s role in SMB finance workflows. Lithic and Mastercard Make SMB Loans Ready to Spend

Insider Buying and Selling at Mastercard

In other Mastercard news, insider Raj Seshadri sold 1,977 shares of the business’s stock in a transaction on Thursday, July 2nd. The shares were 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 in the company, valued at $8,702,934.17. The trade was a 10.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sandra A. Arkell sold 200 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $540.00, for a total transaction of $108,000.00. Following the sale, the insider directly owned 3,322 shares in the company, valued at $1,793,880. This trade represents a 5.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 7,005 shares of company stock valued at $3,689,976. 0.09% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Piper Sandler began coverage on Mastercard in a research note on Monday, June 29th. They set an “overweight” rating and a $597.00 price objective for the company. Citigroup reduced their target price on Mastercard from $735.00 to $675.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Loop Capital reissued a “buy” rating and set a $631.00 price target on shares of Mastercard in a research report on Wednesday, June 3rd. UBS Group restated a “buy” rating on shares of Mastercard in a research note on Thursday, June 25th. Finally, TD Cowen cut their price target on shares of Mastercard from $671.00 to $664.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. Eight equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $653.92.

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.