Carnegie Investment Counsel 13F: Cuts MA Stake by $1.8M

Carnegie Investment Counsel trimmed its holdings in Mastercard Incorporated (NYSE:MA) by 3,465 shares during the quarter, according to a Form 13F filing disclosed on October 20, 2026. The adjustment lowered the firm's stake by 2.5% to 137,076 shares. The remaining position held an estimated market value of $73,061,881 at the time of the report.

MA Mastercard Incorporated

$620.42 ▲ +10.88% year to date

1M 3M YTD

Daily close · Oct 20, 2026

What Changed in Carnegie Investment Counsel's Mastercard Position

The institutional investor pared back its exposure to the credit services provider after holding 140,541 shares previously. Mastercard closed at $620.42 on the filing date. Even with the reduction, the firm retains a sizable stake in the payment technology company.

Other Institutional Activity in Mastercard

Other large funds also adjusted their portfolios around the same period. PineStone Asset Management trimmed its holdings by 43,240 shares, ending with 1,788,772 shares worth about $986,454,095. Mather Group grew its stake by 5,423 shares to finish with 22,581 shares valued at roughly $12,452,690. Montrusco Bolton Investments cut its position by 181,425 shares, leaving it with 286,931 shares worth about $158,233,838. First Citizens Bank & Trust expanded its holdings by 9,755 shares, resulting in 15,572 shares valued at roughly $8,587,490. Meanwhile, Assenagon Asset Management S.A. reduced its stake by 618,966 shares, closing the period with 241,045 shares worth about $132,929,086.

Mastercard Incorporated Stock Up 0.9%

Mastercard shares recently traded around $622.65 as of October 22, 2026, sitting up about 0.4% since the filing date. The stock trades roughly 7.5% above its 50-day moving average of $579.05 and about 16.6% above its 200-day moving average of $533.78. The share price rests just 0.3% below its 52-week high of $624.66 and 34.0% above its 52-week low of $464.52. The current price sits about 7.7% below the analyst mean price target of $674.93.

Recent Earnings

Mastercard reported trailing twelve month revenue of $35.08 billion alongside basic earnings of $18.24 per share. The company operates with a net profit margin of 46.3% and generated a return on equity of 241.2%. The next quarterly earnings update is scheduled for October 29, 2026.

Dividend

The company pays an annual dividend rate of $3.48 per share, which translates to a dividend yield of 0.56%. Mastercard distributes 17.9% of its earnings as dividends to shareholders.

Insider Buying and Selling at Mastercard Incorporated

Company insiders executed several transactions prior to the filing. Officer J. Mehra Sachin sold 3,266 shares on September 2, 2026, for $1,907,344. Director Julius Genachowski disposed of 371 shares on October 9, 2026, for $217,040.01 under a planned trading program, followed by another sale of 370 shares on October 12, 2026, valued at $218,377.70. Chief Financial Officer Hai Ling sold 4,317 shares on October 16, 2026, for $2,676,540 under a pre-arranged plan.

Analysts Set New Price Targets

Wall Street firms maintain positive coverage on the stock. Cantor Fitzgerald maintained an Overweight rating with a $695 target on August 3, 2026. Truist Securities kept a Buy rating with a $633 target on August 5, 2026. Wolfe Research maintained an Outperform rating with a $740 target on August 25, 2026. RBC Capital held an Outperform rating with a $696 target on August 31, 2026. Baird maintained an Outperform rating with a $710 target on October 9, 2026. Overall, the stock carries a consensus strong buy rating from 37 analysts, with targets ranging from a low of $550 to a high of $765.

About Mastercard Incorporated

Mastercard Incorporated operates as a technology company that connects consumers, financial institutions, merchants, governments, and businesses globally. The firm facilitates digital payments and transaction processing across multiple channels. Institutional adjustments like Carnegie's trade offer insight into how large asset managers reallocate capital within the financial services sector.

Bottom Line

Investors will look toward Mastercard's upcoming earnings report on October 29, 2026, for further guidance on payment volumes and revenue growth. Portfolio shifts by institutional holders will continue to emerge through upcoming regulatory disclosures.