Mastercard Incorporated (NYSE:MA) Stock Position Lowered by Convergence Investment Partners LLC

Convergence Investment Partners LLC lowered its position in shares of Mastercard Incorporated (NYSE:MA) by 31.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,383 shares of the credit services provider’s stock after selling 620 shares during the quarter. Convergence Investment Partners LLC’s holdings in Mastercard were worth $590,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Northern Trust Corp increased its holdings in shares of Mastercard by 2.9% in the third quarter. Northern Trust Corp now owns 9,075,358 shares of the credit services provider’s stock valued at $3,593,025,000 after buying an additional 251,516 shares in the last quarter. Jennison Associates LLC raised its position in shares of Mastercard by 6.9% during the third quarter. Jennison Associates LLC now owns 7,966,348 shares of the credit services provider’s stock worth $3,153,957,000 after purchasing an additional 515,481 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Mastercard by 5.9% during the third quarter. Ameriprise Financial Inc. now owns 5,510,259 shares of the credit services provider’s stock valued at $2,181,964,000 after purchasing an additional 306,663 shares during the last quarter. Royal Bank of Canada boosted its position in shares of Mastercard by 1.1% in the 3rd quarter. Royal Bank of Canada now owns 5,314,881 shares of the credit services provider’s stock valued at $2,104,214,000 after purchasing an additional 56,642 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Mastercard by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,557,530 shares of the credit services provider’s stock worth $1,804,372,000 after purchasing an additional 16,019 shares in the last quarter. 97.28% of the stock is owned by institutional investors and hedge funds.

Mastercard Stock Performance

Shares of NYSE MA opened at $462.42 on Monday. The business’s 50-day simple moving average is $471.35 and its 200-day simple moving average is $436.61. Mastercard Incorporated has a 52 week low of $357.85 and a 52 week high of $490.00. 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 firm has a market cap of $431.39 billion, a price-to-earnings ratio of 39.09, a P/E/G ratio of 1.76 and a beta of 1.08.

Mastercard (NYSE:MA) last released its quarterly earnings results on Wednesday, January 31st. The credit services provider reported $3.18 EPS for the quarter, beating analysts’ consensus estimates of $3.08 by $0.10. The company had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.46 billion. Mastercard had a net margin of 44.60% and a return on equity of 191.22%. During the same quarter last year, the firm posted $2.65 earnings per share. As a group, equities research analysts expect that Mastercard Incorporated will post 14.35 earnings per share for the current fiscal year.

Mastercard Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders 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 0.57%. The ex-dividend date is Monday, April 8th. Mastercard’s dividend payout ratio (DPR) is 22.32%.

Insider Activity

In related news, insider Craig Vosburg sold 13,542 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $460.06, for a total transaction of $6,230,132.52. Following the completion of the sale, the insider now owns 46,491 shares in the company, valued at approximately $21,388,649.46. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Craig Vosburg sold 13,542 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $460.06, for a total transaction of $6,230,132.52. Following the completion of the transaction, the insider now directly owns 46,491 shares in the company, valued at approximately $21,388,649.46. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Foundation Mastercard sold 200 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $487.25, for a total transaction of $97,450.00. Following the completion of the sale, the insider now owns 97,543,308 shares in the company, valued at $47,527,976,823. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 366,630 shares of company stock valued at $168,746,490. 0.13% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on MA shares. William Blair reiterated an “outperform” rating on shares of Mastercard in a report on Wednesday, January 31st. KeyCorp increased their target price on Mastercard from $475.00 to $490.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Evercore ISI lifted their price target on Mastercard from $530.00 to $545.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. Wells Fargo & Company increased their price objective on Mastercard from $490.00 to $530.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $510.00 target price on shares of Mastercard in a report on Thursday, February 1st. Two research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $490.23.

About Mastercard

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.