Wrapmanager Inc. reduced its stake in shares of Mastercard Incorporated (NYSE:MA) by 53.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,109 shares of the credit services provider’s stock after selling 3,628 shares during the quarter. Wrapmanager Inc.’s holdings in Mastercard were worth $439,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in MA. Vanguard Group Inc. lifted its position in shares of Mastercard by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 65,297,307 shares of the credit services provider’s stock worth $7,930,357,000 after purchasing an additional 1,490,267 shares during the last quarter. Janus Henderson Group PLC grew its position in Mastercard by 784.3% during the second quarter. Janus Henderson Group PLC now owns 16,870,229 shares of the credit services provider’s stock worth $2,048,899,000 after buying an additional 14,962,583 shares during the period. Capital Research Global Investors grew its position in Mastercard by 15.8% during the second quarter. Capital Research Global Investors now owns 12,685,589 shares of the credit services provider’s stock worth $1,540,665,000 after buying an additional 1,729,179 shares during the period. Capital World Investors grew its position in Mastercard by 2.3% during the second quarter. Capital World Investors now owns 12,675,652 shares of the credit services provider’s stock worth $1,539,458,000 after buying an additional 289,488 shares during the period. Finally, UBS Asset Management Americas Inc. grew its position in shares of Mastercard by 6.0% in the second quarter. UBS Asset Management Americas Inc. now owns 6,174,892 shares of the credit services provider’s stock valued at $749,941,000 after purchasing an additional 347,768 shares during the last quarter. 75.57% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts recently weighed in on MA shares. Wedbush reaffirmed a “buy” rating and set a $140.00 price target (up from $129.00) on shares of Mastercard in a report on Wednesday, September 6th. Susquehanna Bancshares restated a “positive” rating and issued a $158.00 price target (up from $149.00) on shares of Mastercard in a research report on Friday, September 8th. Barclays lifted their price objective on shares of Mastercard from $142.00 to $148.00 and gave the company an “overweight” rating in a research report on Friday, September 8th. Citigroup boosted their price target on shares of Mastercard from $157.00 to $167.00 and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Finally, Instinet restated a “buy” rating and set a $163.00 price target (up from $153.00) on shares of Mastercard in a research report on Saturday, September 9th. Two investment analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company’s stock. Mastercard has an average rating of “Buy” and an average price target of $159.92.
Mastercard (NYSE:MA) last issued its quarterly earnings results on Tuesday, October 31st. The credit services provider reported $1.34 EPS for the quarter, topping the Zacks’ consensus estimate of $1.23 by $0.11. Mastercard had a return on equity of 78.38% and a net margin of 38.70%. The company had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.28 billion. During the same quarter last year, the business earned $1.08 earnings per share. Mastercard’s revenue was up 18.1% on a year-over-year basis. research analysts forecast that Mastercard Incorporated will post 4.54 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Tuesday, January 9th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, January 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.66%. This is a boost from Mastercard’s previous quarterly dividend of $0.22. Mastercard’s dividend payout ratio (DPR) is presently 20.51%.
Mastercard announced that its board has authorized a stock buyback program on Monday, December 4th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the credit services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
In other Mastercard news, insider Michael Fraccaro sold 5,800 shares of Mastercard stock in a transaction dated 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 legal filing with the SEC, which is accessible through this link. 0.30% of the stock is currently owned by company insiders.
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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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