Sapient Capital LLC has reduced its stake in Mastercard Incorporated by 2.5% during the third quarter of 2023, according to a recent filing with the Securities and Exchange Commission. Following the sale of 2,399 shares, the firm now holds 91,684 shares of the credit services provider, which represents approximately 0.8% of Sapient Capital’s total investments. The value of Mastercard shares held by the firm is approximately $52,092,000.
In addition to Sapient Capital’s adjustments, several other large investors have also made significant changes to their holdings in Mastercard. For instance, Kingstone Capital Partners Texas LLC established a new position in Mastercard during the second quarter, valued at approximately $11.4 billion. Laurel Wealth Advisors LLC increased its position by an astounding 55,868.1%, acquiring an additional 13,397,168 shares to reach a total of 13,421,148 shares, valued at around $7.54 billion.
Norges Bank entered the fray with a new stake valued at about $6.73 billion, while Massachusetts Financial Services Co. MA increased its stake by 25.6%, now holding 6,372,404 shares valued at approximately $3.58 billion. Vanguard Group Inc. also raised its holdings by 1.2%, now owning 78,475,807 shares worth around $44.1 billion. Together, hedge funds and institutional investors own 97.28% of Mastercard’s stock.
Current Market Performance
As of the latest trading session, shares of Mastercard opened at $579.61. The company has experienced a fifty-day simple moving average of $555.62 and a two-hundred-day simple moving average of $565.67. Mastercard’s market capitalization stands at approximately $520.49 billion, with a price-to-earnings ratio of 37.06 and a beta of 0.87. The company has seen a one-year low of $465.59 and a high of $601.77.
In an encouraging development for shareholders, Mastercard has increased its quarterly dividend. The company announced a payment of $0.87 per share, which is scheduled for disbursement on February 9, 2024, to shareholders on record as of January 9, 2024. This marks an increase from the previous dividend of $0.76 per share, resulting in an annualized dividend of $3.48 and a yield of approximately 0.6%. The company’s current dividend payout ratio is 22.25%.
Analyst Insights and Future Outlook
Recent analysis from various equity research firms provides mixed insights regarding Mastercard’s stock. Wells Fargo & Company has adjusted its price target from $669.00 to $660.00, maintaining an “overweight” rating. Meanwhile, Evercore ISI set a target of $610.00, and Truist Financial reduced its target from $638.00 to $630.00 while keeping a “buy” rating.
Compass Point has established a target price of $620.00 with a “neutral” rating. In contrast, the Royal Bank of Canada increased its price target to $654.00 while maintaining a “buy” rating. Overall, five analysts have issued a “Strong Buy” rating, twenty-one have rated it as a “Buy,” and three have assigned a “Hold” rating. According to MarketBeat, the average rating for Mastercard is a “Buy,” with a consensus target price of $657.48.
Mastercard Incorporated is a leading global payments technology company that connects consumers, financial institutions, merchants, governments, and businesses across more than 200 countries and territories. The firm is known for facilitating electronic payments and transaction processing for credit, debit, and prepaid cards while providing a comprehensive array of payment-related services to various stakeholders.
