Prime Capital Investment Advisors LLC grew its stake in Mastercard Inc (NYSE:MA) by 786.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,330 shares of the credit services provider’s stock after purchasing an additional 1,180 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Mastercard were worth $296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently bought and sold shares of MA. BlackRock Inc. grew its position in Mastercard by 0.7% in the second quarter. BlackRock Inc. now owns 65,030,203 shares of the credit services provider’s stock worth $12,779,736,000 after acquiring an additional 452,200 shares during the period. FMR LLC lifted its stake in Mastercard by 6.0% during the second quarter. FMR LLC now owns 39,120,141 shares of the credit services provider’s stock worth $7,687,891,000 after purchasing an additional 2,229,947 shares in the last quarter. Jennison Associates LLC lifted its stake in Mastercard by 4.8% during the third quarter. Jennison Associates LLC now owns 15,023,688 shares of the credit services provider’s stock worth $3,344,423,000 after purchasing an additional 693,667 shares in the last quarter. Bank of America Corp DE lifted its stake in Mastercard by 4.6% during the second quarter. Bank of America Corp DE now owns 6,150,557 shares of the credit services provider’s stock worth $1,208,709,000 after purchasing an additional 269,298 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its stake in Mastercard by 0.6% during the third quarter. Alliancebernstein L.P. now owns 3,957,969 shares of the credit services provider’s stock worth $881,084,000 after purchasing an additional 22,656 shares in the last quarter. Institutional investors and hedge funds own 74.84% of the company’s stock.
Mastercard stock opened at $202.99 on Friday. Mastercard Inc has a 1-year low of $147.51 and a 1-year high of $225.35. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.55 and a current ratio of 1.55. The firm has a market capitalization of $207.06 billion, a price-to-earnings ratio of 44.32, a price-to-earnings-growth ratio of 1.72 and a beta of 1.21.
Mastercard (NYSE:MA) last posted its quarterly earnings results on Tuesday, October 30th. The credit services provider reported $1.78 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.10. Mastercard had a return on equity of 114.58% and a net margin of 35.88%. The company had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $3.86 billion. During the same period last year, the firm earned $1.34 earnings per share. Mastercard’s quarterly revenue was up 14.7% on a year-over-year basis. As a group, analysts anticipate that Mastercard Inc will post 6.43 earnings per share for the current fiscal year.
Mastercard declared that its board has initiated a share buyback program on Tuesday, December 4th that authorizes the company to buyback $6.50 million in outstanding shares. This buyback authorization authorizes the credit services provider to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 8th. Shareholders of record on Wednesday, January 9th will be issued a dividend of $0.33 per share. This is a positive change from Mastercard’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, January 8th. This represents a $1.32 annualized dividend and a dividend yield of 0.65%. Mastercard’s dividend payout ratio (DPR) is presently 21.83%.
In other news, Director Richard K. Davis acquired 2,475 shares of the company’s stock in a transaction on Friday, November 2nd. The shares were bought at an average price of $196.37 per share, with a total value of $486,015.75. Following the completion of the acquisition, the director now owns 3,468 shares in the company, valued at approximately $681,011.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.32% of the company’s stock.
A number of research analysts have commented on the company. Royal Bank of Canada upped their price target on Mastercard from $223.00 to $232.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 11th. They noted that the move was a valuation call. Zacks Investment Research upgraded Mastercard from a “hold” rating to a “buy” rating and set a $235.00 price target on the stock in a research note on Thursday. Wells Fargo & Co upped their price target on Mastercard from $230.00 to $250.00 and gave the stock an “outperform” rating in a research note on Monday, October 1st. BMO Capital Markets upped their price target on Mastercard from $238.00 to $248.00 and gave the stock an “outperform” rating in a research note on Thursday, November 1st. Finally, Credit Suisse Group increased their price objective on Mastercard from $210.00 to $224.00 and gave the company an “outperform” rating in a research note on Monday, October 8th. Two research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $221.28.
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Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers related products and services.
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