Friedberg Investment Management trimmed its stake in Mastercard Incorporated (NYSE:MA) by 77.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 2,280 shares of the credit services provider’s stock after selling 8,000 shares during the period. Friedberg Investment Management’s holdings in Mastercard were worth $322,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in MA. Proficio Capital Partners LLC grew its holdings in shares of Mastercard by 1.3% in the second quarter. Proficio Capital Partners LLC now owns 905 shares of the credit services provider’s stock valued at $118,000 after purchasing an additional 12 shares in the last quarter. First Interstate Bank grew its holdings in shares of Mastercard by 1.4% in the second 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 in the last quarter. Lourd Capital LLC grew its holdings in shares of Mastercard by 0.5% in the second 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 in the last quarter. Sullivan Bruyette Speros & Blaney LLC grew its holdings in shares of Mastercard by 1.8% in the second 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 in the last quarter. Finally, American Asset Management Inc. grew its holdings in shares of Mastercard by 2.4% in the second 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 in the last quarter. 75.58% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Edward Grunde Mclaughlin sold 17,167 shares of the company’s stock in a transaction on 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 completion of the transaction, 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 this link. Corporate insiders own 0.30% of the company’s stock.
Mastercard Incorporated (MA) opened at $162.33 on Friday. 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 twelve month low of $104.01 and a twelve month high of $162.52. 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 issued its earnings results on Tuesday, October 31st. The credit services provider reported $1.34 earnings per share (EPS) for the quarter, beating the 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 during the quarter, compared to analysts’ expectations of $3.28 billion. During the same quarter in the prior 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 forecast that Mastercard Incorporated will post 4.54 earnings per share for the current fiscal year.
Mastercard declared that its Board of Directors has initiated a stock repurchase plan on Monday, December 4th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the credit services provider to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.
The business 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 boost from Mastercard’s previous quarterly dividend of $0.22. The ex-dividend date is Monday, January 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.62%. Mastercard’s dividend payout ratio is presently 23.31%.
A number of brokerages recently weighed in on MA. Vetr upgraded shares of Mastercard from a “sell” rating to a “hold” rating and set a $158.70 price objective for the company in a report on Thursday. Sanford C. Bernstein restated a “buy” rating and issued a $180.00 price objective (up previously from $166.00) on shares of Mastercard in a report on Monday, December 11th. Cowen restated a “buy” rating and issued a $137.00 price objective on shares of Mastercard in a report on Thursday, October 12th. Zacks Investment Research cut shares of Mastercard from a “buy” rating to a “hold” rating in a report on Wednesday, November 8th. Finally, Mizuho restated a “hold” rating and issued a $140.00 price objective on shares of Mastercard in a report on Thursday, October 12th. Three analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the company’s stock. The company presently 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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