Dynamic Technology Lab Private Ltd acquired a new position in Mastercard Incorporated (NYSE:MA) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,509 shares of the credit services provider’s stock, valued at approximately $1,343,000.
Several other institutional investors have also recently modified their holdings of MA. Toth Financial Advisory Corp lifted its stake in shares of Mastercard by 14.3% in the second quarter. Toth Financial Advisory Corp now owns 18,876 shares of the credit services provider’s stock worth $2,292,000 after buying an additional 2,359 shares during the last quarter. Xact Kapitalforvaltning AB increased its position in Mastercard by 5.2% during the second quarter. Xact Kapitalforvaltning AB now owns 180,077 shares of the credit services provider’s stock worth $21,870,000 after acquiring an additional 8,855 shares during the period. Capital Asset Advisory Services LLC increased its position in Mastercard by 2.1% during the second quarter. Capital Asset Advisory Services LLC now owns 4,935 shares of the credit services provider’s stock worth $600,000 after acquiring an additional 100 shares during the period. BKD Wealth Advisors LLC increased its position in Mastercard by 3.3% during the second quarter. BKD Wealth Advisors LLC now owns 2,574 shares of the credit services provider’s stock worth $313,000 after acquiring an additional 82 shares during the period. Finally, Highwater Wealth Management LLC bought a new position in Mastercard during the second quarter worth $278,000. Institutional investors and hedge funds own 75.58% of the company’s stock.
Shares of Mastercard Incorporated (NYSE MA) opened at $159.86 on Thursday. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.83. Mastercard Incorporated has a fifty-two week low of $104.01 and a fifty-two week high of $160.48. The firm has a market cap of $169,240.00, a PE ratio of 37.26, a PEG ratio of 1.80 and a beta of 1.21.
Mastercard (NYSE:MA) last posted its earnings results on Tuesday, October 31st. The credit services provider reported $1.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.23 by $0.11. Mastercard had a net margin of 38.70% and a return on equity of 78.38%. The business had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same quarter in the prior year, the firm earned $1.08 EPS. The firm’s quarterly revenue was up 18.1% compared to the same quarter last year. research analysts expect that Mastercard Incorporated will post 4.54 earnings per share for the current year.
Mastercard announced that its board has authorized a stock buyback program on Monday, December 4th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the credit services provider to buy shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Tuesday, January 9th will be issued a $0.25 dividend. This is a positive change from Mastercard’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Monday, January 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.63%. Mastercard’s dividend payout ratio is presently 23.31%.
In other news, insider Edward Grunde Mclaughlin sold 17,167 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $151.81, for a total value 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.30% of the stock is currently owned by corporate insiders.
A number of equities analysts recently issued reports on the stock. Zacks Investment Research raised shares of Mastercard from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research report on Tuesday, January 2nd. Barclays reaffirmed a “buy” rating and set a $170.00 target price on shares of Mastercard in a research report on Friday, January 5th. Credit Suisse Group reaffirmed a “hold” rating and set a $164.00 target price on shares of Mastercard in a research report on Monday. Wells Fargo & Co reaffirmed an “outperform” rating and set a $178.00 target price (up previously from $167.00) on shares of Mastercard in a research report on Tuesday. Finally, Royal Bank of Canada lowered shares of Mastercard from a “top pick” rating to an “outperform” rating and set a $130.00 target price on the stock. in a research report on Thursday, January 4th. Three analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company. Mastercard presently has an average rating of “Buy” and an average target price of $160.69.
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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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