Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Mastercard Incorporated (NYSE:MA) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 6,602 shares of the credit services provider’s stock, valued at approximately $948,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Glassman Wealth Services increased its stake in shares of Mastercard by 0.3% in the 1st quarter. Glassman Wealth Services now owns 1,769 shares of the credit services provider’s stock worth $199,000 after purchasing an additional 6 shares in the last quarter. Proficio Capital Partners LLC increased its stake in shares of Mastercard by 1.3% in the 2nd quarter. Proficio Capital Partners LLC now owns 905 shares of the credit services provider’s stock worth $118,000 after purchasing an additional 12 shares in the last quarter. Berkshire Asset Management LLC PA increased its stake in shares of Mastercard by 0.3% in the 2nd quarter. Berkshire Asset Management LLC PA now owns 6,448 shares of the credit services provider’s stock worth $783,000 after purchasing an additional 18 shares in the last quarter. First Interstate Bank increased its stake in shares of Mastercard by 1.4% in the 2nd quarter. First Interstate Bank now owns 1,643 shares of the credit services provider’s stock worth $200,000 after purchasing an additional 23 shares in the last quarter. Finally, Lourd Capital LLC increased its stake in shares of Mastercard by 0.5% in the 2nd quarter. Lourd Capital LLC now owns 5,423 shares of the credit services provider’s stock worth $659,000 after purchasing an additional 26 shares in the last quarter. 75.81% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Mastercard Incorporated (NYSE MA) traded up $1.09 during trading on Monday, hitting $150.98. The stock had a trading volume of 516,765 shares, compared to its average volume of 3,217,780. The stock has a market capitalization of $158,682.84, a price-to-earnings ratio of 34.78, a price-to-earnings-growth ratio of 2.00 and a beta of 1.20. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.83. Mastercard Incorporated has a 52-week low of $102.91 and a 52-week high of $154.65.
Mastercard (NYSE:MA) last issued its quarterly earnings data on Tuesday, October 31st. The credit services provider reported $1.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.23 by $0.11. The firm had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.28 billion. Mastercard had a return on equity of 78.38% and a net margin of 38.70%. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.08 earnings per share. sell-side analysts forecast that Mastercard Incorporated will post 4.54 earnings per share for the current fiscal year.
Mastercard declared that its Board of Directors has approved a share buyback plan on Monday, December 4th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the credit services provider to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Tuesday, January 9th will be given a dividend of $0.25 per share. This is a positive change from Mastercard’s previous quarterly dividend of $0.22. The ex-dividend date is Monday, January 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.66%. Mastercard’s dividend payout ratio (DPR) is presently 20.47%.
In other news, Director Richard Haythornthwaite sold 5,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $142.51, for a total transaction of $712,550.00. Following the completion of the transaction, the director now owns 45,278 shares in the company, valued at $6,452,567.78. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Craig Vosburg sold 14,200 shares of the stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $141.86, for a total transaction of $2,014,412.00. Following the completion of the transaction, the insider now directly owns 40,646 shares of the company’s stock, valued at approximately $5,766,041.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,000 shares of company stock valued at $3,582,984. Company insiders own 0.30% of the company’s stock.
Several equities research analysts have recently commented on MA shares. Instinet restated a “buy” rating and issued a $163.00 price objective (up from $153.00) on shares of Mastercard in a research note on Saturday, September 9th. KeyCorp reiterated a “buy” rating and issued a $165.00 price target on shares of Mastercard in a research note on Wednesday, October 18th. BMO Capital Markets reiterated an “outperform” rating and issued a $174.00 price target (up previously from $157.00) on shares of Mastercard in a research note on Wednesday, November 1st. Piper Jaffray Companies reiterated a “buy” rating and issued a $161.00 price target on shares of Mastercard in a research note on Friday, October 13th. Finally, Vetr upgraded Mastercard from a “buy” rating to a “strong-buy” rating and set a $161.72 price target for the company in a research note on Tuesday, December 5th. Two analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $159.69.
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MasterCard Incorporated is a technology company that connects consumers, financial institutions, merchants, governments and businesses across the world, enabling them to use electronic forms of payment. The Company operates through Payment Solutions segment. The Company allows user to make payments by creating a range of payment solutions and services using its brands, which include MasterCard, Maestro and Cirrus.
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