Voya Investment Management LLC has increased its holdings in Mastercard Incorporated, now valued at approximately $604.68 million. The asset management firm reported a 3.2% rise in ownership during the third quarter, acquiring an additional 33,306 shares to reach a total of 1,063,067 shares. This acquisition positions Mastercard as the firm’s 24th largest holding, constituting 0.6% of Voya’s total portfolio.
The latest filing with the U.S. Securities and Exchange Commission (SEC) reflects a broader trend among institutional investors toward increasing stakes in Mastercard. For instance, ORG Partners LLC expanded its holdings by an impressive 73.2% in the second quarter, now owning 698 shares worth approximately $394,000. Similarly, Curio Wealth LLC saw a dramatic increase of 22,400%, resulting in ownership of 225 shares valued at $126,000 after purchasing an additional 224 shares.
Vanguard Group Inc. maintained its robust position in Mastercard, growing its stake by 1.2% to a total of 78,475,807 shares, valued at around $44.1 billion. Wheelhouse Advisory Group LLC and SeaBridge Investment Advisors LLC also made notable increases of 4.4% and 4.3% respectively, further solidifying the institutional interest in the credit services provider.
Analyst Ratings and Market Performance
The stock market has responded positively to movements in Mastercard’s shares. As of October 30, 2023, the stock opened at $565.88. Analysts have issued various ratings, with Goldman Sachs Group reaffirming a “buy” rating and setting a price target of $713.00. Other notable ratings include an “overweight” designation from KeyCorp with a target of $665.00, and a “neutral” rating from Compass Point with a $620.00 target.
Current consensus sees Mastercard holding an average rating of “Buy” with a projected price target of $657.48. The company’s financial metrics reveal a market capitalization of $508.16 billion, a price-to-earnings (P/E) ratio of 36.18, and a significant return on equity of 202.03%.
Recent Earnings and Dividend Announcement
Mastercard recently reported its quarterly earnings, revealing an earnings per share (EPS) of $4.38, surpassing analyst estimates of $4.31. Revenue for the quarter reached $8.60 billion, exceeding projections of $8.53 billion. This represents a year-over-year revenue growth of 16.7%, compared to $3.89 EPS from the same period last year.
In addition to strong earnings, Mastercard has announced a quarterly dividend of $0.87, set to be paid on February 9, 2024. Shareholders of record as of January 9, 2024 will benefit from this dividend, which marks an increase from the previous quarterly payment of $0.76. This adjustment indicates a positive trajectory for the company, with a payout ratio currently at 22.25%.
Mastercard Incorporated continues to play a pivotal role in the payment processing sector, providing a variety of transaction-related services globally. Its ongoing growth and positive financial indicators suggest robust investor confidence as institutional holdings increase and dividends rise. The financial landscape remains optimistic for Mastercard as it navigates the evolving market.
