Investment Management Corp of Ontario Increases Position in Mastercard Incorporated $MA

Investment Management Corp of Ontario raised its holdings in Mastercard Incorporated (NYSE:MA) by 11.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 81,630 shares of the credit services provider’s stock after acquiring an additional 8,672 shares during the period. Mastercard makes up approximately 0.7% of Investment Management Corp of Ontario’s investment portfolio, making the stock its 17th largest position. Investment Management Corp of Ontario’s holdings in Mastercard were worth $45,871,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Brighton Jones LLC increased its stake in shares of Mastercard by 42.3% in the 4th quarter. Brighton Jones LLC now owns 6,824 shares of the credit services provider’s stock worth $3,594,000 after acquiring an additional 2,028 shares during the last quarter. Cove Private Wealth LLC grew its holdings in shares of Mastercard by 80.3% in the first quarter. Cove Private Wealth LLC now owns 5,424 shares of the credit services provider’s stock valued at $2,973,000 after purchasing an additional 2,415 shares during the period. Paulson Wealth Management Inc. increased its position in Mastercard by 9.1% during the first quarter. Paulson Wealth Management Inc. now owns 1,028 shares of the credit services provider’s stock worth $563,000 after purchasing an additional 86 shares during the last quarter. Staley Capital Advisers Inc. raised its stake in Mastercard by 3.8% during the first quarter. Staley Capital Advisers Inc. now owns 5,942 shares of the credit services provider’s stock worth $3,257,000 after purchasing an additional 219 shares during the period. Finally, Independent Advisor Alliance boosted its holdings in Mastercard by 6.0% in the 1st quarter. Independent Advisor Alliance now owns 28,817 shares of the credit services provider’s stock valued at $15,795,000 after purchasing an additional 1,630 shares during the last quarter. 97.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MA has been the subject of a number of recent analyst reports. Robert W. Baird raised their price target on shares of Mastercard from $640.00 to $660.00 and gave the stock an “outperform” rating in a report on Monday, October 6th. Tigress Financial raised their target price on Mastercard from $685.00 to $730.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 6th. Wall Street Zen upgraded Mastercard from a “hold” rating to a “buy” rating in a research report on Saturday. Compass Point set a $620.00 price target on Mastercard and gave the company a “neutral” rating in a research note on Friday, October 31st. Finally, TD Cowen reissued a “buy” rating and set a $645.00 price objective on shares of Mastercard in a research report on Monday, August 11th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Mastercard has a consensus rating of “Buy” and a consensus price target of $652.50.

Mastercard Stock Down 1.1%

Shares of MA opened at $539.47 on Tuesday. The company’s 50-day simple moving average is $555.98 and its 200-day simple moving average is $566.79. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.12 and a current ratio of 1.12. Mastercard Incorporated has a 1 year low of $465.59 and a 1 year high of $601.77. The stock has a market capitalization of $484.45 billion, a PE ratio of 34.49, a P/E/G ratio of 2.14 and a beta of 0.87.

Mastercard (NYSE:MA) last announced its quarterly earnings data on Thursday, October 30th. The credit services provider reported $4.38 earnings per share for the quarter, beating analysts’ consensus estimates of $4.31 by $0.07. Mastercard had a net margin of 45.28% and a return on equity of 202.03%. The firm had revenue of $8.60 billion during the quarter, compared to analysts’ expectations of $8.53 billion. During the same quarter in the previous year, the business posted $3.89 earnings per share. The business’s quarterly revenue was up 16.7% compared to the same quarter last year. Analysts forecast that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Thursday, October 9th were given a dividend of $0.76 per share. The ex-dividend date of this dividend was Thursday, October 9th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.6%. Mastercard’s dividend payout ratio is currently 19.44%.

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.