Huber Capital Management LLC Boosts Holdings in Mastercard Incorporated (NYSE:MA)

Huber Capital Management LLC grew its position in Mastercard Incorporated (NYSE:MA) by 16.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,409 shares of the credit services provider’s stock after acquiring an additional 1,900 shares during the quarter. Mastercard comprises about 1.3% of Huber Capital Management LLC’s portfolio, making the stock its 23rd largest position. Huber Capital Management LLC’s holdings in Mastercard were worth $5,916,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Swedbank AB purchased a new stake in Mastercard in the first quarter worth $660,652,000. PineStone Asset Management Inc. grew its holdings in shares of Mastercard by 145.6% in the second quarter. PineStone Asset Management Inc. now owns 1,777,468 shares of the credit services provider’s stock worth $784,148,000 after purchasing an additional 1,053,616 shares during the last quarter. Vanguard Group Inc. increased its stake in Mastercard by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 75,253,734 shares of the credit services provider’s stock worth $32,096,470,000 after buying an additional 742,076 shares during the period. Capital International Investors lifted its holdings in Mastercard by 3.3% during the 4th quarter. Capital International Investors now owns 21,041,685 shares of the credit services provider’s stock valued at $8,974,478,000 after buying an additional 676,452 shares in the last quarter. Finally, Capital Research Global Investors boosted its position in Mastercard by 4.7% in the 4th quarter. Capital Research Global Investors now owns 13,608,023 shares of the credit services provider’s stock valued at $5,803,956,000 after buying an additional 605,909 shares during the period. Institutional investors own 97.28% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Foundation Mastercard sold 138,000 shares of the stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $453.19, for a total value of $62,540,220.00. Following the transaction, the insider now owns 92,152,308 shares in the company, valued at approximately $41,762,504,462.52. The sale was disclosed in a filing with the SEC, which is available through this link. In other Mastercard news, CMO Venkata R. Madabhushi sold 4,685 shares of Mastercard stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $493.10, for a total transaction of $2,310,173.50. Following the completion of the transaction, the chief marketing officer now owns 17,118 shares in the company, valued at approximately $8,440,885.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Foundation Mastercard sold 138,000 shares of the company’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $453.19, for a total value of $62,540,220.00. Following the completion of the sale, the insider now owns 92,152,308 shares in the company, valued at approximately $41,762,504,462.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 605,124 shares of company stock valued at $280,045,189. 0.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Argus raised shares of Mastercard to a “strong-buy” rating in a research note on Thursday, August 1st. Susquehanna lifted their target price on Mastercard from $535.00 to $540.00 and gave the company a “positive” rating in a research report on Thursday, August 1st. Citigroup increased their price target on Mastercard from $528.00 to $538.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Compass Point initiated coverage on Mastercard in a report on Wednesday, September 4th. They issued a “neutral” rating and a $525.00 price objective for the company. Finally, TD Cowen upped their price objective on shares of Mastercard from $532.00 to $533.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Five research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $512.08.

Mastercard Stock Performance

MA opened at $492.63 on Friday. The company has a market cap of $457.96 billion, a P/E ratio of 39.16, a price-to-earnings-growth ratio of 1.92 and a beta of 1.10. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.95. The firm’s 50-day moving average price is $466.24 and its 200-day moving average price is $461.15. Mastercard Incorporated has a 52-week low of $359.77 and a 52-week high of $501.80.

Mastercard (NYSE:MA) last issued its quarterly earnings results on Wednesday, July 31st. The credit services provider reported $3.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.51 by $0.08. Mastercard had a net margin of 46.45% and a return on equity of 179.78%. The business had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.85 billion. As a group, equities analysts anticipate that Mastercard Incorporated will post 14.29 EPS for the current fiscal year.

Mastercard Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Wednesday, October 9th will be paid a $0.66 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $2.64 dividend on an annualized basis and a yield of 0.54%. Mastercard’s dividend payout ratio (DPR) is 20.99%.

Mastercard Company Profile

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.