Billionaire Andreas Halvorsen’s Viking Global Portfolio: 5 New Stock Picks

3. Mastercard Incorporated (NYSE:MA)

Number of Hedge Fund Holders: 136

Mastercard Incorporated (NYSE:MA) is an American financial technology firm that provides transaction processing and other payment-related products and services worldwide. Andreas Halvorsen added Mastercard Incorporated (NYSE:MA) to his portfolio in the first quarter of 2022, buying about 1.8 million shares worth almost $641 million. 

On April 28, Mastercard Incorporated (NYSE:MA) reported its Q1 results, announcing earnings per share of $2.76, beating market estimates by $0.60. The revenue grew 24.36% year-over-year to $5.17 billion, exceeding analysts’ predictions by $267.59 million. 

Goldman Sachs analyst Will Nance on May 17 initiated coverage of Mastercard Incorporated (NYSE:MA) with a Buy rating and a $460 price target, which implies 38% upside. He believes Mastercard Incorporated (NYSE:MA) will continue to deliver “best-in-class” earnings growth, on the back of “strong secular tailwinds, and strong operating leverage as the company continues to add scale”.

Charles Akre’s Akre Capital Management held the largest stake in Mastercard Incorporated (NYSE:MA) during Q1 2022, consisting of 5.85 million shares worth over $2 billion. Overall, 136 hedge funds were bullish on Mastercard Incorporated (NYSE:MA) at the end of March 2022. 

Here is what Saturna Capital Amana Funds has to say about Mastercard Incorporated (NYSE:MA) in its Q4 2021 investor letter:

“Given the likelihood of rising inflation and interest rates ahead, we anticipate adjustments to the portfolio to reduce exposure to highly valued stocks dependent on low interest rates to support terminal year valuations, while seeking investments in companies more correlated with a return to economic normalcy. We sold our position in Mastercard. Although Mastercard does not charge or collect interest, its association with credit activities was problematic.”