5 Best Dividend Stocks According to Thomas Steyer’s Farallon Capital

3. Mastercard Incorporated (NYSE:MA)

Number of Hedge Fund Holders: 146
Dividend Yield as of January 9: 0.53%

Mastercard Incorporated (NYSE:MA) has a 9-year track record of consistent dividend growth.

At the end of Q3 2021, 146 hedge funds tracked by Insider Monkey were bullish on Mastercard Incorporated (NYSE:MA), down from 156 in the previous quarter. The total value of these stakes is over $17.6 billion, up from $17 billion in Q2. With shares worth over $2.4 billion, Akre Capital Management was the company’s largest shareholder.

Farallon Capital started investing in Mastercard Incorporated (NYSE:MA) during the first quarter of 2021. In Q3, the hedge fund increased its stake by 3% in the company, which represented 1.66% of the hedge fund’s portfolio. Recently, Evercore named Mastercard Incorporated (NYSE:MA) as one of its top picks in the payments segment for 2022 and lifted its price target on the stock to $480.

L1 Capital mentioned Mastercard Incorporated (NYSE:MA) in its Q3 2021 investor letter. Here is what the firm has to say:

“Mastercard returned to top 10. We have held Mastercard since inception of the Fund. Over the 6 weeks to 30 September 2021, Mastercard’s share price retreated 10% and we took advantage of what we believe will be a short-term pullback in the share price to add to our investment. Recent weakness in Mastercard’s share price is most likely due to concerns about disintermediation and other pressures caused by growth in ‘Buy now, Pay later’ and other new payment offerings, as well a general market rotation away from higher growth companies in favour of more cyclical businesses.”