Harvey Capital Management Inc. Buys 1,745 Shares of Mastercard Incorporated $MA

Harvey Capital Management Inc. raised its stake in shares of Mastercard Incorporated (NYSE:MA) by 21.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,695 shares of the credit services provider’s stock after buying an additional 1,745 shares during the quarter. Harvey Capital Management Inc.’s holdings in Mastercard were worth $4,979,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of MA. Riggs Asset Managment Co. Inc. grew its holdings in Mastercard by 20.0% during the second quarter. Riggs Asset Managment Co. Inc. now owns 108 shares of the credit services provider’s stock valued at $61,000 after purchasing an additional 18 shares during the period. Castle Rock Wealth Management LLC increased its stake in Mastercard by 2.8% in the fourth quarter. Castle Rock Wealth Management LLC now owns 695 shares of the credit services provider’s stock valued at $387,000 after purchasing an additional 19 shares in the last quarter. Athena Wealth Management LLC raised its holdings in Mastercard by 3.8% in the second quarter. Athena Wealth Management LLC now owns 514 shares of the credit services provider’s stock worth $264,000 after purchasing an additional 19 shares during the period. Novem Group raised its holdings in Mastercard by 0.4% in the second quarter. Novem Group now owns 4,680 shares of the credit services provider’s stock worth $2,404,000 after purchasing an additional 19 shares during the period. Finally, Vista Capital Partners Inc. boosted its position in shares of Mastercard by 4.5% during the second quarter. Vista Capital Partners Inc. now owns 444 shares of the credit services provider’s stock worth $228,000 after purchasing an additional 19 shares in the last quarter. 97.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on MA shares. Piper Sandler assumed coverage on shares of Mastercard in a report on Monday, June 29th. They issued an “overweight” rating and a $597.00 price target for the company. UBS Group raised their price objective on Mastercard from $640.00 to $670.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Clear Str upgraded Mastercard to a “strong-buy” rating in a report on Thursday, July 16th. KeyCorp boosted their target price on Mastercard from $670.00 to $680.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Finally, Weiss Ratings upgraded Mastercard from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, August 17th. Five analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Mastercard has an average rating of “Buy” and a consensus price target of $664.71.

Insider Transactions at Mastercard

In other news, insider Linda Pistecchia Kirkpatrick sold 4,280 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $570.31, for a total value of $2,440,926.80. Following the sale, the insider directly owned 31,179 shares in the company, valued at $17,781,695.49. The trade was a 12.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider J. Mehra Sachin sold 1,000 shares of the company’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $572.07, for a total value of $572,070.00. Following the transaction, the insider directly owned 39,916 shares of the company’s stock, valued at $22,834,746.12. This represents a 2.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 71,357 shares of company stock worth $40,637,262. 0.09% of the stock is currently owned by company insiders.

Trending Headlines about Mastercard

Here are the key news stories impacting Mastercard this week:

• Positive Sentiment: Mastercard has restarted international card-payment services in Syria for the first time in roughly 15 years after regulatory changes, potentially reopening transaction-volume opportunities in the country. Visa is also entering the market, limiting Mastercard’s ability to capture the opportunity exclusively. Visa, Mastercard begin first Syria global card payments in years
• Positive Sentiment: A new partnership with Asia-Pacific travel-experiences platform Klook aims to provide Mastercard cardholders with travel benefits and create additional spending touchpoints as experience-led tourism expands across the region. The initiative could support cross-border payments and customer engagement, although financial terms were not disclosed. Klook and Mastercard collaborate to enhance travelers’ experiences across Asia Pacific
• Neutral Sentiment: Mastercard said CFO Ling Hai will speak at the Goldman Sachs Communacopia + Technology Conference on September 10. The presentation may offer updates on growth, travel spending and digital payments, but it does not change current financial guidance. Mastercard to Participate in Upcoming Investor Conference
• Neutral Sentiment: Mastercard’s name appears as a supporter of a Ripple XRPL hackathon, highlighting continued interest in blockchain development. However, the event is not evidence of a major XRP or XRPL commercial rollout by Mastercard. Mastercard’s Name Is on the Ripple Hackathon, But Don’t Get Ahead of Yourself
• Negative Sentiment: Recent commentary argues that Mastercard’s strong earnings profile and roughly 61% net margin are already reflected in the stock’s elevated valuation. The shares’ retreat after nearing their high may therefore reflect profit-taking and concern that further gains require continued strong execution. Mastercard’s Record Stalls With 61% Margin Already Priced In

Mastercard Stock Down 1.2%

Mastercard stock opened at $591.35 on Friday. The company has a 50 day moving average of $547.06 and a 200-day moving average of $519.09. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 3.96. Mastercard Incorporated has a twelve month low of $464.52 and a twelve month high of $601.62. The stock has a market capitalization of $518.03 billion, a PE ratio of 32.53, a price-to-earnings-growth ratio of 1.80 and a beta of 0.72.

Mastercard (NYSE:MA) last issued its quarterly earnings data on Thursday, July 30th. The credit services provider reported $5.04 EPS for the quarter, topping analysts’ consensus estimates of $4.77 by $0.27. The business had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.08 billion. Mastercard had a net margin of 46.34% and a return on equity of 239.99%. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period last year, the business posted $4.15 earnings per share. On average, equities research analysts anticipate that Mastercard Incorporated will post 19.86 EPS for the current fiscal year.

Mastercard Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Thursday, July 9th were paid a $0.87 dividend. The ex-dividend date of this dividend was Thursday, July 9th. This represents a $3.48 annualized dividend and a dividend yield of 0.6%. Mastercard’s dividend payout ratio (DPR) is currently 19.14%.

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.