LA Financiere DE L Echiquier cut its holdings in shares of Mastercard Incorporated (NYSE:MA) by 12.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 56,615 shares of the credit services provider’s stock after selling 8,023 shares during the quarter. Mastercard accounts for about 5.6% of LA Financiere DE L Echiquier’s investment portfolio, making the stock its 8th largest holding. LA Financiere DE L Echiquier’s holdings in Mastercard were worth $7,994,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in MA. HighTower Advisors LLC raised its stake in shares of Mastercard by 8.8% during the 1st quarter. HighTower Advisors LLC now owns 90,089 shares of the credit services provider’s stock worth $10,112,000 after purchasing an additional 7,293 shares in the last quarter. Fayerweather Charles raised its stake in shares of Mastercard by 0.8% during the 1st quarter. Fayerweather Charles now owns 19,754 shares of the credit services provider’s stock worth $2,221,000 after purchasing an additional 160 shares in the last quarter. Toth Financial Advisory Corp raised its stake in shares of Mastercard by 14.3% during the 2nd quarter. Toth Financial Advisory Corp now owns 18,876 shares of the credit services provider’s stock worth $2,292,000 after purchasing an additional 2,359 shares in the last quarter. Xact Kapitalforvaltning AB raised its stake in shares of Mastercard by 5.2% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 180,077 shares of the credit services provider’s stock worth $21,870,000 after purchasing an additional 8,855 shares in the last quarter. Finally, Capital Asset Advisory Services LLC raised its stake in shares of Mastercard by 2.1% during the 2nd quarter. Capital Asset Advisory Services LLC now owns 4,935 shares of the credit services provider’s stock worth $600,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 75.58% of the company’s stock.
Mastercard Incorporated (NYSE MA) opened at $159.50 on Wednesday. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $168,860.00, a P/E ratio of 37.18, a price-to-earnings-growth ratio of 1.80 and a beta of 1.21. Mastercard Incorporated has a 1 year low of $104.01 and a 1 year high of $160.48.
Mastercard (NYSE:MA) last issued its quarterly earnings results on Tuesday, October 31st. The credit services provider reported $1.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.23 by $0.11. Mastercard had a return on equity of 78.38% and a net margin of 38.70%. The company had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.28 billion. During the same period in the previous year, the business posted $1.08 EPS. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. equities analysts anticipate that Mastercard Incorporated will post 4.54 earnings per share for the current year.
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 issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend is Monday, January 8th. This is a positive change from Mastercard’s previous quarterly dividend of $0.22. Mastercard’s dividend payout ratio (DPR) is presently 20.51%.
Mastercard announced that its Board of Directors has authorized a stock buyback program on Monday, December 4th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the credit services provider to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.
A number of brokerages recently weighed in on MA. Morgan Stanley reissued an “overweight” rating and issued a $160.00 price objective (up from $138.00) on shares of Mastercard in a research note on Tuesday, September 19th. Zacks Investment Research raised Mastercard from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a research note on Thursday, September 21st. Royal Bank of Canada reissued a “buy” rating and issued a $156.00 price objective on shares of Mastercard in a research note on Friday, September 22nd. Cantor Fitzgerald began coverage on Mastercard in a research note on Thursday, September 28th. They issued an “overweight” rating and a $165.00 price objective on the stock. Finally, Buckingham Research began coverage on Mastercard in a research note on Monday, October 2nd. They issued a “buy” rating and a $163.00 price objective on the stock. Three analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $160.69.
In other news, insider Edward Grunde Mclaughlin sold 17,167 shares of Mastercard stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $151.81, for a total transaction of $2,606,122.27. Following the sale, the insider now owns 47,901 shares of the company’s stock, valued at approximately $7,271,850.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Fraccaro sold 5,800 shares of Mastercard stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $147.59, for a total value of $856,022.00. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.
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Mastercard Company Profile
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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