Pictet Asset Management Holding SA Grows Stock Position in Mastercard Incorporated (NYSE:MA)

Pictet Asset Management Holding SA grew its position in Mastercard Incorporated (NYSE:MA) by 54.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,362,081 shares of the credit services provider’s stock after acquiring an additional 481,605 shares during the quarter. Mastercard comprises 0.8% of Pictet Asset Management Holding SA’s holdings, making the stock its 20th largest position. Pictet Asset Management Holding SA owned 0.15% of Mastercard worth $746,470,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Measured Risk Portfolios Inc. purchased a new position in shares of Mastercard during the 4th quarter worth approximately $31,000. Navigoe LLC purchased a new position in shares of Mastercard during the 4th quarter worth approximately $33,000. 10Elms LLP purchased a new stake in Mastercard during the 4th quarter worth approximately $33,000. Hughes Financial Services LLC purchased a new stake in Mastercard during the 1st quarter worth approximately $34,000. Finally, Mpwm Advisory Solutions LLC purchased a new stake in Mastercard during the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Insider Activity

In other news, insider Craig Vosburg sold 9,428 shares of the company’s stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $353.05, for a total transaction of $3,328,555.40. Following the transaction, the insider directly owned 58,451 shares in the company, valued at approximately $20,636,125.55. This represents a 13.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Raj Seshadri sold 1,100 shares of the company’s stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $546.77, for a total transaction of $601,447.00. Following the transaction, the insider owned 12,921 shares in the company, valued at $7,064,815.17. The trade was a 7.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,753 shares of company stock worth $20,351,084. Corporate insiders own 0.09% of the company’s stock.

Mastercard Stock Performance

Mastercard stock traded down $2.98 during trading hours on Friday, hitting $552.63. The stock had a trading volume of 654,543 shares, compared to its average volume of 2,658,631. The company has a 50-day moving average of $567.61 and a two-hundred day moving average of $548.26. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.81. The company has a market cap of $503.84 billion, a PE ratio of 38.78, a price-to-earnings-growth ratio of 2.41 and a beta of 1.02. Mastercard Incorporated has a fifty-two week low of $428.86 and a fifty-two week high of $594.71.

Mastercard (NYSE:MA) last posted its quarterly earnings results on Thursday, May 1st. The credit services provider reported $3.73 EPS for the quarter, beating the consensus estimate of $3.57 by $0.16. The firm had revenue of $7.25 billion during the quarter, compared to analysts’ expectations of $7.12 billion. Mastercard had a return on equity of 196.87% and a net margin of 45.21%. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.31 EPS. On average, equities research analysts anticipate that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Mastercard Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Wednesday, July 9th will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Wednesday, July 9th. Mastercard’s payout ratio is 21.32%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MA. Jefferies Financial Group reiterated a “buy” rating on shares of Mastercard in a research note on Friday, June 6th. Wolfe Research set a $655.00 price target on Mastercard in a research note on Monday, June 23rd. Wall Street Zen cut Mastercard from a “buy” rating to a “hold” rating in a research note on Saturday, June 14th. Evercore ISI initiated coverage on Mastercard in a research note on Wednesday, April 9th. They issued an “in-line” rating and a $550.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft began coverage on Mastercard in a research note on Thursday. They issued a “buy” rating and a $650.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $612.90.

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.