Envestnet Portfolio Solutions Inc. Boosts Position in Mastercard Incorporated $MA

Envestnet Portfolio Solutions Inc. increased its position in shares of Mastercard Incorporated (NYSE:MA) by 7.8% during the 4th quarter, HoldingsChannel reports. The fund owned 63,583 shares of the credit services provider’s stock after acquiring an additional 4,617 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Mastercard were worth $36,298,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. State Street Corp boosted its holdings in Mastercard by 2.8% in the 3rd quarter. State Street Corp now owns 36,580,374 shares of the credit services provider’s stock valued at $20,807,283,000 after purchasing an additional 997,536 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Mastercard by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 79,431,340 shares of the credit services provider’s stock worth $45,181,341,000 after buying an additional 955,533 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Mastercard by 792.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 865,523 shares of the credit services provider’s stock worth $494,110,000 after buying an additional 768,514 shares during the last quarter. Capital Research Global Investors raised its position in shares of Mastercard by 6.5% during the 3rd quarter. Capital Research Global Investors now owns 10,347,834 shares of the credit services provider’s stock valued at $5,885,944,000 after buying an additional 629,941 shares during the period. Finally, PFA Pension Forsikringsaktieselskab purchased a new stake in shares of Mastercard during the 4th quarter valued at approximately $289,353,000. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Macquarie Infrastructure increased their price objective on Mastercard from $660.00 to $675.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. Daiwa Securities Group set a $610.00 price objective on Mastercard and gave the stock an “outperform” rating in a research report on Monday, February 2nd. Wolfe Research reaffirmed an “outperform” rating on shares of Mastercard in a research report on Tuesday, March 17th. BMO Capital Markets started coverage on shares of Mastercard in a research note on Tuesday, April 21st. They set an “outperform” rating and a $605.00 target price for the company. Finally, TD Cowen reissued a “buy” rating on shares of Mastercard in a research note on Tuesday, March 17th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $656.00.

Mastercard Trading Up 2.3%

Shares of NYSE:MA opened at $505.39 on Tuesday. Mastercard Incorporated has a 52 week low of $480.50 and a 52 week high of $601.77. The company’s 50 day moving average is $502.92 and its two-hundred day moving average is $530.89. The company has a market cap of $446.55 billion, a PE ratio of 29.25, a P/E/G ratio of 1.54 and a beta of 0.76. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 2.56.

Mastercard (NYSE:MA) last released its quarterly earnings data on Thursday, April 30th. The credit services provider reported $4.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.41 by $0.19. The business had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.26 billion. Mastercard had a net margin of 45.88% and a return on equity of 212.96%. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same period in the previous year, the company earned $3.73 EPS. Equities analysts predict that Mastercard Incorporated will post 19.6 earnings per share for the current fiscal year.

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.