Maia Wealth LLC has reduced its holdings in Mastercard Incorporated (NYSE: MA) by 8.5% during the second quarter of 2023, according to a recent filing with the Securities and Exchange Commission (SEC). The institutional investor now owns 6,231 shares of the credit services provider’s stock, having sold 577 shares during the quarter. As of the latest disclosure, Maia Wealth’s stake in Mastercard is valued at approximately $3.5 million.
Several other institutional investors have also adjusted their positions in Mastercard. For instance, Vanguard Group Inc. increased its ownership by 1.2% in the same quarter, bringing its total holdings to 78,475,807 shares, which are worth about $44.1 billion. Kingstone Capital Partners Texas LLC entered the market with a new position valued at around $11.4 billion, while Price T Rowe Associates Inc. grew its stake by 4.7%, now owning 20,096,979 shares valued at approximately $11 billion. Geode Capital Management LLC also expanded its position by 2.8%, and Wellington Management Group LLP significantly boosted its stake by 38.6% in the first quarter.
Institutional investors now hold 97.28% of Mastercard’s stock, reflecting a trend of consolidation among major investment firms.
In related developments, Mastercard’s Chief Financial Officer, J. Mehra Sachin, sold 17,263 shares of the company’s stock on September 2, 2023. The shares were sold at an average price of $591.00, totaling approximately $10.2 million. Following this transaction, Sachin holds 31,234 shares valued at around $18.5 million, indicating a 35.6% decrease in his position. This sale was disclosed in an SEC filing.
Market Performance and Analyst Insights
As of Wednesday, Mastercard shares opened at $546.50. The company’s fifty-day moving average stands at $561.57, while the two-hundred-day moving average is $568.80. Mastercard has a market capitalization of $490.75 billion, with a price-to-earnings (P/E) ratio of 36.85 and a beta of 0.92. The stock has fluctuated between a fifty-two week low of $465.59 and a high of $601.77.
Mastercard recently reported its quarterly earnings on October 30, 2023, revealing earnings per share of $4.38, surpassing the consensus estimate of $4.31 by $0.07. The company reported revenues of $8.60 billion, slightly above analysts’ expectations of $8.53 billion. Year-over-year, Mastercard’s revenue grew by 16.7%, compared to $3.89 earnings per share from the previous year. Analysts project that Mastercard will achieve earnings of $15.91 per share for the current fiscal year.
Dividend Announcement
In addition to its earnings report, Mastercard announced a quarterly dividend of $0.76 per share, which was paid on November 7, 2023. Shareholders of record as of October 9, 2023 received this dividend, representing an annualized payout of $3.04 and a yield of 0.6%. The company’s current payout ratio is 19.44%, indicating a sustainable dividend policy.
Mastercard Incorporated, a leading technology company, provides transaction processing and various payment-related services both in the United States and internationally. Its offerings include integrated products and value-added services that assist account holders, merchants, financial institutions, digital partners, businesses, and governments in managing payments efficiently.
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