Fagan Associates Inc. lowered its holdings in Mastercard Incorporated (NYSE:MA) by 9.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,246 shares of the credit services provider’s stock after selling 3,974 shares during the period. Mastercard makes up 2.5% of Fagan Associates Inc.’s investment portfolio, making the stock its 9th largest position. Fagan Associates Inc.’s holdings in Mastercard were worth $5,118,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in MA. Massey Quick Simon & CO. LLC purchased a new position in shares of Mastercard during the 3rd quarter valued at about $102,000. Chicago Partners Investment Group LLC raised its holdings in shares of Mastercard by 1,365.6% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 938 shares of the credit services provider’s stock valued at $105,000 after buying an additional 874 shares in the last quarter. Thompson Davis & CO. Inc. raised its holdings in shares of Mastercard by 170.1% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 867 shares of the credit services provider’s stock valued at $105,000 after buying an additional 546 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in shares of Mastercard by 1.3% during the 2nd quarter. Proficio Capital Partners LLC now owns 905 shares of the credit services provider’s stock valued at $118,000 after buying an additional 12 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in Mastercard during the 2nd quarter worth approximately $121,000. 75.66% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Mastercard Incorporated (MA) traded up $2.40 during trading hours on Wednesday, reaching $172.52. The company’s stock had a trading volume of 4,203,532 shares, compared to its average volume of 4,070,000. The stock has a market capitalization of $182,640.00, a PE ratio of 47.27, a price-to-earnings-growth ratio of 1.56 and a beta of 1.26. Mastercard Incorporated has a 1-year low of $107.76 and a 1-year high of $177.11. 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 announced its quarterly earnings data on Thursday, February 1st. The credit services provider reported $1.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.02. Mastercard had a return on equity of 83.57% and a net margin of 31.33%. The business had revenue of $3.31 billion during the quarter, compared to analysts’ expectations of $3.25 billion. During the same quarter in the previous year, the business earned $0.86 earnings per share. The firm’s quarterly revenue 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.
Mastercard announced that its Board of Directors has approved a stock buyback program on Monday, December 4th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the credit services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 9th. Stockholders of record on Monday, April 9th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Friday, April 6th. Mastercard’s dividend payout ratio is currently 27.40%.
In other news, insider Edward Grunde Mclaughlin sold 17,167 shares of the business’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 completion of the transaction, the insider now owns 47,901 shares in the company, valued at $7,271,850.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.30% of the stock is owned by insiders.
MA has been the topic of several recent research reports. Zacks Investment Research lowered Mastercard from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Mizuho upgraded Mastercard from a “neutral” rating to a “buy” rating in a research report on Thursday, January 4th. Citigroup raised their price target on Mastercard from $157.00 to $167.00 and gave the stock a “buy” rating in a research report on Wednesday, October 18th. SunTrust Banks raised their price target on Mastercard to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, November 1st. Finally, Royal Bank of Canada lowered Mastercard from a “top pick” rating to an “outperform” rating and set a $130.00 price objective on the stock. in a research report on Thursday, January 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirty-one have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $176.64.
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Mastercard Company Profile
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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