Bowie Capital Management LLC Has $88.26 Million Position in Mastercard Incorporated (NYSE:MA)

Bowie Capital Management LLC decreased its stake in Mastercard Incorporated (NYSE:MA) by 41.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 178,729 shares of the credit services provider’s stock after selling 127,162 shares during the period. Mastercard accounts for about 4.6% of Bowie Capital Management LLC’s holdings, making the stock its 11th biggest holding. Bowie Capital Management LLC’s holdings in Mastercard were worth $88,256,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Sarasin & Partners LLP boosted its position in Mastercard by 4.7% during the third quarter. Sarasin & Partners LLP now owns 831,942 shares of the credit services provider’s stock valued at $410,813,000 after acquiring an additional 37,486 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Mastercard by 4.8% during the 3rd quarter. Principal Financial Group Inc. now owns 3,031,915 shares of the credit services provider’s stock valued at $1,497,160,000 after purchasing an additional 138,842 shares in the last quarter. Coppell Advisory Solutions Corp. acquired a new stake in Mastercard during the first quarter worth approximately $608,000. SteelPeak Wealth LLC increased its holdings in Mastercard by 48.6% in the second quarter. SteelPeak Wealth LLC now owns 4,928 shares of the credit services provider’s stock worth $2,174,000 after purchasing an additional 1,612 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Mastercard by 2.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,010,430 shares of the credit services provider’s stock valued at $2,474,151,000 after buying an additional 100,550 shares during the period. 97.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MA has been the subject of several research analyst reports. Oppenheimer assumed coverage on shares of Mastercard in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $591.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $572.00 price target on shares of Mastercard in a research note on Thursday, November 14th. William Blair upgraded shares of Mastercard to a “strong-buy” rating in a report on Wednesday, July 31st. TD Cowen raised their target price on Mastercard from $533.00 to $567.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, JPMorgan Chase & Co. dropped their price target on Mastercard from $593.00 to $580.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $549.16.

Insiders Place Their Bets

In other news, CMO Venkata R. Madabhushi sold 4,685 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $489.86, for a total transaction of $2,294,994.10. Following the transaction, the chief marketing officer now owns 15,031 shares of the company’s stock, valued at $7,363,085.66. This represents a 23.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.10% of the company’s stock.

Mastercard Stock Performance

Shares of NYSE MA traded up $4.89 during midday trading on Monday, reaching $525.75. The company’s stock had a trading volume of 199,859 shares, compared to its average volume of 2,449,126. The stock has a market capitalization of $482.55 billion, a P/E ratio of 39.40, a PEG ratio of 2.32 and a beta of 1.10. The company has a debt-to-equity ratio of 2.36, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a 50 day moving average price of $506.91 and a 200-day moving average price of $473.83. Mastercard Incorporated has a 12-month low of $404.32 and a 12-month high of $534.03.

Mastercard (NYSE:MA) last announced its quarterly earnings data on Thursday, October 31st. The credit services provider reported $3.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.73 by $0.16. Mastercard had a return on equity of 178.27% and a net margin of 45.26%. The firm had revenue of $7.37 billion during the quarter, compared to the consensus estimate of $7.27 billion. During the same quarter in the prior year, the company earned $3.39 EPS. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. As a group, equities analysts predict that Mastercard Incorporated will post 14.47 earnings per share for the current year.

Mastercard Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Wednesday, October 9th were issued a dividend of $0.66 per share. The ex-dividend date was Wednesday, October 9th. This represents a $2.64 dividend on an annualized basis and a yield of 0.50%. Mastercard’s dividend payout ratio (DPR) is presently 19.97%.

Mastercard 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.