Fairfield Bush & CO. maintained its stake in Mastercard Incorporated (NYSE:MA) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,405 shares of the credit services provider’s stock at the end of the second quarter. Fairfield Bush & CO.’s holdings in Mastercard were worth $414,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of the business. Glassman Wealth Services increased its holdings in Mastercard by 0.3% in the first quarter. Glassman Wealth Services now owns 1,769 shares of the credit services provider’s stock valued at $199,000 after buying an additional 6 shares during the last quarter. Proficio Capital Partners LLC increased its holdings in Mastercard by 1.3% in the second 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 during the last quarter. Berkshire Asset Management LLC PA increased its holdings in Mastercard by 0.3% in the second quarter. Berkshire Asset Management LLC PA now owns 6,448 shares of the credit services provider’s stock valued at $783,000 after buying an additional 18 shares during the last quarter. First Interstate Bank increased its holdings in Mastercard by 1.4% in the second quarter. First Interstate Bank now owns 1,643 shares of the credit services provider’s stock valued at $200,000 after buying an additional 23 shares during the last quarter. Finally, Lourd Capital LLC increased its holdings in Mastercard by 0.5% in the second quarter. Lourd Capital LLC now owns 5,423 shares of the credit services provider’s stock valued at $659,000 after buying an additional 26 shares during the last quarter. Institutional investors own 75.81% of the company’s stock.
Several brokerages recently weighed in on MA. Vetr raised Mastercard from a “buy” rating to a “strong-buy” rating and set a $161.72 price objective for the company in a report on Tuesday. Piper Jaffray Companies reissued an “overweight” rating and issued a $150.00 price objective (up from $143.00) on shares of Mastercard in a report on Friday, September 8th. Cowen reissued a “buy” rating and issued a $137.00 price objective on shares of Mastercard in a report on Thursday, October 12th. Bank of America boosted their price objective on Mastercard from $165.00 to $170.00 and gave the company a “buy” rating in a report on Monday, November 6th. Finally, Zacks Investment Research lowered Mastercard from a “buy” rating to a “hold” rating in a report on Wednesday, November 8th. Two research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $159.22.
Mastercard (NYSE:MA) last issued its quarterly earnings data on Tuesday, October 31st. The credit services provider reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. Mastercard had a return on equity of 78.38% and a net margin of 38.70%. The business had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.28 billion. During the same period in the prior year, the company posted $1.08 EPS. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. sell-side analysts forecast that Mastercard Incorporated will post 4.54 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Tuesday, January 9th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.69%. This is a positive change from Mastercard’s previous quarterly dividend of $0.22. Mastercard’s dividend payout ratio is 20.51%.
Mastercard announced that its board has authorized a share repurchase 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 purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
In other Mastercard news, insider Michael Fraccaro sold 5,800 shares of the company’s stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $147.59, for a total value of $856,022.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard Haythornthwaite sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $142.51, for a total value of $712,550.00. Following the completion of the sale, the director now owns 45,278 shares of the company’s stock, valued at $6,452,567.78. The disclosure for this sale can be found here. Insiders sold a total of 25,000 shares of company stock valued at $3,582,984 over the last three months. Corporate insiders own 0.30% of the company’s stock.
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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