Ithaka Group LLC cut its stake in Mastercard Incorporated (NYSE:MA) by 5.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 201,471 shares of the credit services provider’s stock after selling 10,606 shares during the period. Mastercard comprises about 5.2% of Ithaka Group LLC’s investment portfolio, making the stock its 6th largest position. Ithaka Group LLC’s holdings in Mastercard were worth $28,448,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of MA. Investment Centers of America Inc. lifted its position in shares of Mastercard by 19.7% during the third quarter. Investment Centers of America Inc. now owns 2,760 shares of the credit services provider’s stock valued at $390,000 after buying an additional 455 shares during the last quarter. Tiedemann Wealth Management LLC lifted its position in shares of Mastercard by 6.7% during the third quarter. Tiedemann Wealth Management LLC now owns 15,835 shares of the credit services provider’s stock valued at $1,969,000 after buying an additional 988 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Mastercard by 2.4% during the third quarter. Schwab Charles Investment Management Inc. now owns 3,134,676 shares of the credit services provider’s stock valued at $442,617,000 after buying an additional 72,220 shares during the last quarter. Barings LLC lifted its position in shares of Mastercard by 14.8% during the third quarter. Barings LLC now owns 74,430 shares of the credit services provider’s stock valued at $10,510,000 after buying an additional 9,570 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Mastercard by 3.3% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,593,016 shares of the credit services provider’s stock valued at $366,134,000 after buying an additional 83,096 shares during the last quarter. Hedge funds and other institutional investors own 75.66% of the company’s stock.
Mastercard Incorporated (NYSE MA) traded up $2.99 during trading on Monday, reaching $168.19. 5,226,202 shares of the company were exchanged, compared to its average volume of 3,910,000. Mastercard Incorporated has a 1 year low of $107.20 and a 1 year high of $177.11. The firm has a market cap of $178,060.00, a PE ratio of 46.08, a P/E/G ratio of 1.53 and a beta of 1.26. The company has a quick ratio of 1.66, a current ratio of 1.57 and a debt-to-equity ratio of 0.99.
Mastercard (NYSE:MA) last released its quarterly earnings results on Thursday, February 1st. The credit services provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.02. Mastercard had a net margin of 31.33% and a return on equity of 83.57%. The firm had revenue of $3.31 billion for the quarter, compared to analysts’ expectations of $3.25 billion. During the same quarter last year, the company earned $0.86 EPS. The firm’s revenue for the quarter was up 20.2% compared to the same quarter last year. sell-side analysts predict that Mastercard Incorporated will post 5.88 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 9th. Shareholders of record on Monday, April 9th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, April 6th. This represents a $1.00 dividend on an annualized basis and a yield of 0.59%. Mastercard’s payout ratio is currently 27.40%.
Mastercard declared that its Board of Directors has authorized a share repurchase plan on Monday, December 4th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the credit services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
Several analysts have commented on MA shares. Citigroup increased their price target on shares of Mastercard from $157.00 to $167.00 and gave the company a “buy” rating in a research report on Wednesday, October 18th. Robert W. Baird increased their price objective on shares of Mastercard from $150.00 to $170.00 and gave the company an “outperform” rating in a research report on Monday, October 16th. Credit Suisse Group reaffirmed a “hold” rating and issued a $164.00 price objective on shares of Mastercard in a research report on Monday, January 8th. Zacks Investment Research raised shares of Mastercard from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research report on Tuesday, January 2nd. Finally, Morgan Stanley increased their price objective on shares of Mastercard from $178.00 to $192.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirty-one have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $176.64.
In other Mastercard 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 value of $2,606,122.27. Following 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.30% of the company’s stock.
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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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