Martin Investment Management LLC decreased its holdings in shares of Mastercard Inc (NYSE:MA) by 2.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 105,655 shares of the credit services provider’s stock after selling 2,818 shares during the quarter. Mastercard comprises about 6.4% of Martin Investment Management LLC’s portfolio, making the stock its biggest holding. Martin Investment Management LLC’s holdings in Mastercard were worth $19,932,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Kentucky Retirement Systems acquired a new stake in shares of Mastercard during the third quarter worth about $7,141,000. Russell Investments Group Ltd. raised its holdings in Mastercard by 13.3% during the third quarter. Russell Investments Group Ltd. now owns 2,640,138 shares of the credit services provider’s stock worth $587,406,000 after purchasing an additional 310,839 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in Mastercard by 1.4% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 372,696 shares of the credit services provider’s stock worth $70,310,000 after purchasing an additional 5,100 shares in the last quarter. Sandell Asset Management Corp. purchased a new position in shares of Mastercard during the third quarter worth approximately $1,113,000. Finally, Bank of Hawaii grew its position in shares of Mastercard by 3.6% during the third quarter. Bank of Hawaii now owns 29,616 shares of the credit services provider’s stock worth $6,593,000 after acquiring an additional 1,040 shares during the last quarter. 74.17% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently issued reports on MA. Wedbush raised their target price on shares of Mastercard from $220.00 to $235.00 and gave the stock an “outperform” rating in a research report on Thursday. Nomura raised their target price on shares of Mastercard to $252.00 and gave the stock a “buy” rating in a research report on Wednesday, February 20th. Oppenheimer raised their target price on shares of Mastercard from $221.00 to $242.00 and gave the stock an “outperform” rating in a research report on Monday, February 4th. Barclays restated a “buy” rating on shares of Mastercard in a research report on Sunday, February 3rd. Finally, Jefferies Financial Group initiated coverage on shares of Mastercard in a research report on Monday, January 28th. They set a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $226.80.
MA stock traded up $1.01 during trading on Thursday, hitting $229.51. The stock had a trading volume of 2,473,619 shares, compared to its average volume of 3,625,701. Mastercard Inc has a 1-year low of $167.94 and a 1-year high of $231.33. The company has a market capitalization of $232.82 billion, a price-to-earnings ratio of 35.36, a PEG ratio of 1.81 and a beta of 1.14. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.08.
Mastercard (NYSE:MA) last announced its earnings results on Thursday, January 31st. The credit services provider reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.03. Mastercard had a net margin of 39.19% and a return on equity of 122.25%. The firm had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.79 billion. As a group, research analysts predict that Mastercard Inc will post 7.55 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Tuesday, April 9th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date is Monday, April 8th. Mastercard’s payout ratio is currently 20.34%.
Mastercard declared that its Board of Directors has approved a share buyback program on Tuesday, December 4th that authorizes the company to buyback $6.50 billion in shares. This buyback authorization authorizes the credit services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
In related news, insider Edward Grunde Mclaughlin sold 20,269 shares of the company’s stock in a transaction that occurred on Tuesday, January 22nd. The stock was sold at an average price of $199.53, for a total transaction of $4,044,273.57. Following the sale, the insider now directly owns 37,374 shares of the company’s stock, valued at approximately $7,457,234.22. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Richard Haythornthwaite sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, December 17th. The shares were sold at an average price of $192.00, for a total value of $960,000.00. Following the sale, the director now directly owns 40,183 shares in the company, valued at $7,715,136. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by insiders.
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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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