ZWJ Investment Counsel Inc. Cuts Stock Position in Mastercard Incorporated (NYSE:MA)

ZWJ Investment Counsel Inc. lessened its holdings in shares of Mastercard Incorporated (NYSE:MA) by 2.7% during the 4th quarter, Holdings Channel reports. The firm owned 1,112 shares of the credit services provider’s stock after selling 31 shares during the period. ZWJ Investment Counsel Inc.’s holdings in Mastercard were worth $474,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Activest Wealth Management lifted its holdings in Mastercard by 87.4% during the 4th quarter. Activest Wealth Management now owns 536 shares of the credit services provider’s stock worth $229,000 after buying an additional 250 shares during the last quarter. Everett Harris & Co. CA grew its position in shares of Mastercard by 0.5% in the 4th quarter. Everett Harris & Co. CA now owns 49,539 shares of the credit services provider’s stock valued at $21,129,000 after buying an additional 252 shares during the last quarter. Atlantic Union Bankshares Corp lifted its position in Mastercard by 23.9% in the fourth quarter. Atlantic Union Bankshares Corp now owns 12,124 shares of the credit services provider’s stock valued at $5,171,000 after acquiring an additional 2,337 shares during the last quarter. Fortune Financial Advisors LLC grew its holdings in shares of Mastercard by 4.5% during the fourth quarter. Fortune Financial Advisors LLC now owns 7,853 shares of the credit services provider’s stock worth $3,350,000 after purchasing an additional 339 shares during the last quarter. Finally, Foster Victor Wealth Advisors LLC lifted its holdings in shares of Mastercard by 1.5% in the 4th quarter. Foster Victor Wealth Advisors LLC now owns 42,752 shares of the credit services provider’s stock valued at $18,041,000 after purchasing an additional 612 shares during the last quarter. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Mastercard Stock Performance

Shares of NYSE:MA traded up $0.69 during trading hours on Friday, hitting $455.39. The stock had a trading volume of 2,548,844 shares, compared to its average volume of 2,169,012. The company has a debt-to-equity ratio of 2.06, a quick ratio of 1.17 and a current ratio of 1.17. The stock’s fifty day simple moving average is $471.70 and its 200 day simple moving average is $433.78. The firm has a market capitalization of $424.83 billion, a price-to-earnings ratio of 38.49, a PEG ratio of 1.73 and a beta of 1.08. Mastercard Incorporated has a 1-year low of $357.85 and a 1-year high of $490.00.

Mastercard (NYSE:MA) last issued its quarterly earnings data on Wednesday, January 31st. The credit services provider reported $3.18 earnings per share for the quarter, beating analysts’ consensus estimates of $3.08 by $0.10. Mastercard had a net margin of 44.60% and a return on equity of 191.22%. The business had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.46 billion. During the same period in the previous year, the business earned $2.65 earnings per share. Sell-side analysts anticipate that Mastercard Incorporated will post 14.35 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Tuesday, April 9th will be issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend is Monday, April 8th. Mastercard’s payout ratio is 22.32%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on MA shares. Oppenheimer reiterated an “outperform” rating and issued a $510.00 price target on shares of Mastercard in a report on Thursday, February 1st. TD Cowen assumed coverage on shares of Mastercard in a research note on Thursday, April 11th. They issued a “buy” rating and a $545.00 target price for the company. Robert W. Baird increased their price target on Mastercard from $525.00 to $545.00 and gave the stock an “outperform” rating in a research note on Thursday. Evercore ISI upped their target price on Mastercard from $530.00 to $545.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. Finally, KeyCorp raised their price target on Mastercard from $475.00 to $490.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Two analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Mastercard presently has a consensus rating of “Moderate Buy” and a consensus target price of $490.23.

Insider Activity

In other Mastercard news, insider Ajay Bhalla sold 98 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $439.52, for a total transaction of $43,072.96. Following the sale, the insider now directly owns 6,235 shares of the company’s stock, valued at approximately $2,740,407.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Ajay Bhalla sold 98 shares of the company’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $439.52, for a total transaction of $43,072.96. Following the completion of the sale, the insider now owns 6,235 shares in the company, valued at approximately $2,740,407.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Foundation Mastercard sold 111,000 shares of the business’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $457.15, for a total value of $50,743,650.00. Following the completion of the sale, the insider now owns 97,432,308 shares of the company’s stock, valued at $44,541,179,602.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 148,728 shares of company stock worth $68,483,403. Insiders own 0.13% of the company’s stock.

Mastercard Profile

Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. The company offers integrated products and value-added services for account holders, merchants, financial institutions, digital partners, businesses, governments, and other organizations, such as programs that enable issuers to provide consumers with credits to defer payments; payment products and solutions that allow its customers to access funds in deposit and other accounts; prepaid programs services; and commercial credit, debit, and prepaid payment products and solutions.