Clarkston Capital Partners LLC lessened its holdings in shares of Mastercard Incorporated (NYSE:MA) by 16.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 77,895 shares of the credit services provider’s stock after selling 15,840 shares during the period. Clarkston Capital Partners LLC’s holdings in Mastercard were worth $10,999,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. Proficio Capital Partners LLC lifted its stake in Mastercard by 1.3% during the 2nd quarter. Proficio Capital Partners LLC now owns 905 shares of the credit services provider’s stock valued at $118,000 after acquiring an additional 12 shares during the period. First Interstate Bank increased its position in shares of Mastercard by 1.4% during the 2nd quarter. First Interstate Bank now owns 1,643 shares of the credit services provider’s stock valued at $200,000 after purchasing an additional 23 shares during the last quarter. Lourd Capital LLC increased its position in shares of Mastercard by 0.5% during the 2nd quarter. Lourd Capital LLC now owns 5,423 shares of the credit services provider’s stock valued at $659,000 after purchasing an additional 26 shares during the last quarter. Sullivan Bruyette Speros & Blaney LLC increased its position in shares of Mastercard by 1.8% during the 2nd quarter. Sullivan Bruyette Speros & Blaney LLC now owns 2,427 shares of the credit services provider’s stock valued at $295,000 after purchasing an additional 44 shares during the last quarter. Finally, American Asset Management Inc. increased its position in shares of Mastercard by 2.4% during the 2nd quarter. American Asset Management Inc. now owns 2,100 shares of the credit services provider’s stock valued at $255,000 after purchasing an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 75.58% of the company’s stock.
In other news, insider Edward Grunde Mclaughlin sold 17,167 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 47,901 shares in the company, valued at $7,271,850.81. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.30% of the company’s stock.
Shares of Mastercard Incorporated (MA) traded up $1.41 during trading on Friday, hitting $162.33. The stock had a trading volume of 3,039,310 shares, compared to its average volume of 3,470,000. The stock has a market capitalization of $171,850.00, a price-to-earnings ratio of 37.84, a P/E/G ratio of 1.82 and a beta of 1.21. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.66 and a current ratio of 1.66. Mastercard Incorporated has a 1 year low of $104.01 and a 1 year high of $162.52.
Mastercard (NYSE:MA) last announced its quarterly earnings results on Tuesday, October 31st. The credit services provider reported $1.34 EPS for the quarter, beating the consensus estimate of $1.23 by $0.11. The firm had revenue of $3.40 billion for 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 revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.08 earnings per share. research analysts forecast that Mastercard Incorporated will post 4.54 earnings per share for the current year.
Mastercard declared that its board has initiated a stock repurchase plan on Monday, December 4th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the credit services provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Tuesday, January 9th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, January 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.62%. This is a positive change from Mastercard’s previous quarterly dividend of $0.22. Mastercard’s dividend payout ratio (DPR) is currently 23.31%.
Several research firms have recently commented on MA. Cowen reaffirmed a “buy” rating and set a $171.00 price target on shares of Mastercard in a research report on Friday. Vetr raised shares of Mastercard from a “sell” rating to a “hold” rating and set a $158.70 target price for the company in a report on Thursday. Wells Fargo & Co reissued an “outperform” rating and issued a $178.00 target price (up from $167.00) on shares of Mastercard in a report on Tuesday. Credit Suisse Group reaffirmed a “hold” rating and set a $164.00 price objective on shares of Mastercard in a report on Monday, January 8th. Finally, Barclays reaffirmed a “buy” rating and set a $170.00 price objective on shares of Mastercard in a report on Friday, January 5th. Three investment analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $161.82.
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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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