Entropy Technologies LP has significantly increased its investment in Mastercard Incorporated, purchasing an additional 16,329 shares during the second quarter of 2023. This acquisition represents a remarkable increase of 237.3%, bringing Entropy Technologies’ total holdings in the company to 23,210 shares. According to its latest filing with the Securities and Exchange Commission (SEC), these shares are valued at approximately $13.04 million, making Mastercard the largest holding in Entropy Technologies’ investment portfolio.
This surge in investment comes as several other institutional investors and hedge funds have also adjusted their stakes in Mastercard. For example, Brighton Jones LLC raised its stake by 42.3% in the fourth quarter, bringing its total to 6,824 shares valued at $3.59 million. Additionally, Y Intercept Hong Kong Ltd made a new investment in the first quarter worth about $1.39 million, while Advisors Preferred LLC increased its holdings by 56.7% during the same period, now owning 1,280 shares valued at $702,000.
The growing interest among institutional investors is reflected in the overall ownership structure of Mastercard, with these entities now holding 97.28% of the company’s stock.
Current Stock Performance and Market Position
On Friday, Mastercard shares opened at $528.28. The company’s fifty-day simple moving average stands at $564.12, while the 200-day simple moving average is at $569.23. Mastercard has experienced a 12-month low of $465.59 and a high of $601.77. The firm currently boasts a market capitalization of $474.39 billion and a price-to-earnings (P/E) ratio of 35.62, indicating a robust market position.
Recently, Mastercard announced a quarterly dividend of $0.76, paid to shareholders of record on October 9, 2023. This dividend represents an annualized total of $3.04 and a yield of 0.6%. The company’s current payout ratio stands at 19.44%.
Analysts and Insider Activity
Equity research analysts have shown a bullish outlook on Mastercard. Robert W. Baird raised their target price from $640.00 to $660.00, maintaining an “outperform” rating. Other notable upgrades include Cowen’s reaffirmation of a “buy” rating and Wells Fargo’s adjustment of their target price from $669.00 to $660.00. Currently, Mastercard holds a consensus rating of “Buy” with an average price target of $652.50 according to data from MarketBeat.
In a separate development, Mastercard’s Chief Financial Officer, J. Mehra Sachin, sold 17,263 shares on September 2, 2023, at an average price of $591.00, resulting in a total transaction valued at approximately $10.2 million. Following this sale, Sachin’s remaining shares are valued at around $18.46 million, reflecting a 35.60% decrease in his position.
Mastercard Incorporated continues to solidify its position as a key player in transaction processing and payment services, with a diverse portfolio catering to account holders, merchants, and financial institutions globally. As the company moves forward, its robust growth and market response will be closely monitored by investors and analysts alike.
