Smith Asset Management Group LP acquired a new stake in Mastercard Incorporated (NYSE:MA) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 63,370 shares of the credit services provider’s stock, valued at approximately $8,948,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Mastercard by 2.3% in the second quarter. Vanguard Group Inc. now owns 65,297,307 shares of the credit services provider’s stock valued at $7,930,357,000 after purchasing an additional 1,490,267 shares during the period. Janus Henderson Group PLC increased its holdings in Mastercard by 784.3% in the second quarter. Janus Henderson Group PLC now owns 16,870,229 shares of the credit services provider’s stock valued at $2,048,899,000 after purchasing an additional 14,962,583 shares during the period. Capital Research Global Investors increased its holdings in Mastercard by 15.8% in the second quarter. Capital Research Global Investors now owns 12,685,589 shares of the credit services provider’s stock valued at $1,540,665,000 after purchasing an additional 1,729,179 shares during the period. Capital World Investors increased its holdings in Mastercard by 2.3% in the second quarter. Capital World Investors now owns 12,675,652 shares of the credit services provider’s stock valued at $1,539,458,000 after purchasing an additional 289,488 shares during the period. Finally, UBS Asset Management Americas Inc. grew its holdings in Mastercard by 6.0% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 6,174,892 shares of the credit services provider’s stock worth $749,941,000 after acquiring an additional 347,768 shares during the period. Institutional investors and hedge funds own 75.58% of the company’s stock.
In other Mastercard news, insider Edward Grunde Mclaughlin sold 17,167 shares of Mastercard 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 transaction, 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 is available through this link. 0.30% of the stock is owned by company insiders.
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 firm has a market cap of $171,850.00, a PE 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 current ratio of 1.66 and a quick ratio of 1.66.
Mastercard (NYSE:MA) last announced its quarterly earnings results on Tuesday, October 31st. The credit services provider reported $1.34 earnings per share for the quarter, beating 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 analysts’ expectations of $3.28 billion. During the same quarter last year, the firm earned $1.08 EPS. The firm’s revenue for the quarter was up 18.1% compared to the same quarter last year. equities analysts expect that Mastercard Incorporated will post 4.54 earnings per share for the current year.
Mastercard declared that its board has approved 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 reacquire shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Tuesday, January 9th will be given 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 boost from Mastercard’s previous quarterly dividend of $0.22. Mastercard’s dividend payout ratio (DPR) is currently 23.31%.
MA has been the subject of a number of recent analyst reports. Buckingham Research initiated coverage on Mastercard in a report on Monday, October 2nd. They set a “buy” rating and a $163.00 price target for the company. Cowen reiterated a “buy” rating and set a $137.00 price target on shares of Mastercard in a report on Thursday, October 12th. Royal Bank of Canada reiterated a “buy” rating and set a $156.00 price target on shares of Mastercard in a report on Friday, September 22nd. Zacks Investment Research upgraded Mastercard from a “hold” rating to a “buy” rating and set a $160.00 price target for the company in a report on Thursday, September 21st. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $161.00 price target on shares of Mastercard in a report on Friday, October 13th. Three equities research analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the stock. Mastercard 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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