Keybank National Association OH reduced its holdings in shares of Mastercard Incorporated (NYSE:MA) by 0.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 717,043 shares of the credit services provider’s stock after selling 4,759 shares during the period. Keybank National Association OH owned 0.07% of Mastercard worth $101,246,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Prudential Financial Inc. boosted its position in shares of Mastercard by 1.3% during the 3rd quarter. Prudential Financial Inc. now owns 1,311,926 shares of the credit services provider’s stock worth $185,244,000 after purchasing an additional 16,425 shares in the last quarter. Stoneridge Investment Partners LLC bought a new position in shares of Mastercard during the 3rd quarter worth about $249,000. Smith Moore & CO. boosted its position in shares of Mastercard by 32.2% during the 3rd quarter. Smith Moore & CO. now owns 1,713 shares of the credit services provider’s stock worth $242,000 after purchasing an additional 417 shares in the last quarter. USA Financial Portformulas Corp boosted its position in shares of Mastercard by 11.2% during the 3rd quarter. USA Financial Portformulas Corp now owns 29,602 shares of the credit services provider’s stock worth $4,180,000 after purchasing an additional 2,987 shares in the last quarter. Finally, West Coast Financial LLC boosted its position in shares of Mastercard by 2.7% during the 3rd quarter. West Coast Financial LLC now owns 78,594 shares of the credit services provider’s stock worth $11,098,000 after purchasing an additional 2,063 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 $162.33 on Friday. Mastercard Incorporated has a 1 year low of $104.01 and a 1 year high of $162.52. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.66 and a current ratio of 1.66. The company has a market cap of $171,850.00, a P/E ratio of 37.84, a price-to-earnings-growth ratio of 1.82 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 EPS 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 firm had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.28 billion. During the same quarter last year, the firm earned $1.08 EPS. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. sell-side analysts forecast that Mastercard Incorporated will post 4.54 earnings per share for the current year.
Mastercard announced that its Board of Directors has initiated a stock buyback program on Monday, December 4th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the credit services provider to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
The business 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 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 presently 23.31%.
In other news, insider Edward Grunde Mclaughlin sold 17,167 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $151.81, for a total transaction of $2,606,122.27. Following the completion of the sale, the insider now owns 47,901 shares in the company, valued at approximately $7,271,850.81. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.30% of the company’s stock.
A number of equities analysts have recently issued reports on MA shares. Mizuho raised shares of Mastercard from a “neutral” rating to a “buy” rating in a research report on Thursday, January 4th. Citigroup increased their price objective on shares of Mastercard from $157.00 to $167.00 and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Zacks Investment Research cut shares of Mastercard from a “buy” rating to a “hold” rating in a research report on Wednesday, November 8th. SunTrust Banks increased their price objective on shares of Mastercard to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, November 1st. Finally, Wells Fargo & Co raised shares of Mastercard from a “market perform” rating to an “outperform” rating and raised their price target for the company from $130.00 to $160.00 in a research report on Wednesday, October 11th. Three equities research analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $161.82.
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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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