D.A. Davidson & CO. increased its stake in Mastercard Incorporated (NYSE:MA) by 4.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 60,615 shares of the credit services provider’s stock after purchasing an additional 2,694 shares during the period. D.A. Davidson & CO.’s holdings in Mastercard were worth $8,558,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Boys Arnold & Co. Inc. raised its holdings in Mastercard by 7.8% in the 2nd quarter. Boys Arnold & Co. Inc. now owns 5,006 shares of the credit services provider’s stock valued at $608,000 after acquiring an additional 363 shares during the period. OMERS ADMINISTRATION Corp bought a new position in shares of Mastercard during the second quarter worth approximately $2,351,000. Baldwin Investment Management LLC increased its holdings in shares of Mastercard by 5.9% during the second quarter. Baldwin Investment Management LLC now owns 3,600 shares of the credit services provider’s stock worth $437,000 after purchasing an additional 200 shares during the period. Captrust Financial Advisors bought a new position in shares of Mastercard during the second quarter worth approximately $172,000. Finally, Royal Bank of Canada increased its holdings in shares of Mastercard by 1.2% during the second quarter. Royal Bank of Canada now owns 4,136,794 shares of the credit services provider’s stock worth $502,413,000 after purchasing an additional 50,050 shares during the period. 75.79% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Edward Grunde Mclaughlin sold 17,167 shares of the company’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 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 Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.30% of the company’s stock.
Several analysts recently issued reports on MA shares. Wells Fargo & Co upgraded shares of Mastercard from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $130.00 to $160.00 in a research report on Wednesday, October 11th. Cowen restated a “buy” rating and issued a $137.00 target price on shares of Mastercard in a research report on Thursday, October 12th. Mizuho restated a “hold” rating and issued a $140.00 target price on shares of Mastercard in a research report on Thursday, October 12th. Stephens initiated coverage on shares of Mastercard in a research note on Friday, October 13th. They set an “overweight” rating and a $166.00 price target for the company. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $161.00 price target on shares of Mastercard in a research note on Friday, October 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirty have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $176.64.
Mastercard Incorporated (NYSE MA) traded down $5.96 on Monday, reaching $164.59. 7,150,352 shares of the company’s stock were exchanged, compared to its average volume of 3,180,000. Mastercard Incorporated has a 52-week low of $105.60 and a 52-week high of $177.11. The company has a current ratio of 1.57, a quick ratio of 1.66 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $174,250.00, a PE ratio of 45.09, a price-to-earnings-growth ratio of 1.80 and a beta of 1.26.
Mastercard (NYSE:MA) last posted its quarterly earnings results on Thursday, February 1st. The credit services provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.02. The company had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.25 billion. Mastercard had a net margin of 31.33% and a return on equity of 83.57%. The company’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.86 earnings per share. sell-side analysts expect that Mastercard Incorporated will post 5.62 EPS for the current year.
Mastercard declared that its board has approved a share buyback program 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. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 9th. Investors of record on Monday, April 9th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.61%. Mastercard’s dividend payout ratio (DPR) is presently 27.40%.
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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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