5 Blue Chip Dividend Stocks to Buy After the Market Selloff

3. Mastercard Incorporated (NYSE:MA)

Number of Hedge Fund Holders: 137
Dividend Yield as of September 13: 0.58%

Mastercard Incorporated (NYSE:MA) is a New York-based financial services company that specializes in payment innovation and digital payments. In Q2 2022, the company reported earnings beat on various accounts. It posted revenue of $5.5 billion, which grew by 21.4% from the same period last year. The company’s free cash flow also grew to $2.2 billion, from $1.48 billion in the previous quarter. Its dividend payments for the quarter amounted to $477 million, which shows that its payouts are safe within its FCF.

Mastercard Incorporated (NYSE:MA) last raised its dividend in November 2021, which was the company’s eighth consecutive year of dividend growth. It pays a quarterly dividend of $0.49 per share for a yield of 0.58%, as of September 13.

In September, Deutsche Bank raised its price target on Mastercard Incorporated (NYSE:MA) to $440 with a Buy rating on the shares, appreciating the company’s trends in the cryptocurrency space and blockchain technology.

As of the close of Q2 2022, 137 hedge funds in Insider Monkey’s database reported owning stakes in Mastercard Incorporated (NYSE:MA), up from 136 in the previous quarter. The consolidated value of these stakes is roughly $15 billion. Ken Fisher, Tom Russo, and Warren Buffett were some of the company’s most prominent stakeholders in Q2.

Baron Funds mentioned Mastercard Incorporated (NYSE:MA) in its Q2 2022 investor letter. Here is what the firm has to say:

“The Fund’s holdings in the Payments and Information Services themes also contributed to relative performance. Within Payments, lower exposure to this lagging theme and outperformance of Mastercard Incorporated (NYSE:MA) added the most value. These global payment networks are viewed as safe havens during market downturns but are also benefiting from resilient payment volumes and a sharp rebound in international travel.”