State Treasurer State of Michigan lessened its position in shares of Mastercard Inc (NYSE:MA) by 3.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 272,228 shares of the credit services provider’s stock after selling 11,100 shares during the quarter. State Treasurer State of Michigan’s holdings in Mastercard were worth $41,204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently modified their holdings of MA. Massey Quick Simon & CO. LLC purchased a new stake in Mastercard during the 3rd quarter worth about $102,000. Thompson Davis & CO. Inc. lifted its holdings in Mastercard by 170.1% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 867 shares of the credit services provider’s stock worth $105,000 after purchasing an additional 546 shares in the last quarter. Wealthcare Advisory Partners LLC purchased a new stake in Mastercard during the 3rd quarter worth about $106,000. Acrospire Investment Management LLC purchased a new stake in Mastercard during the 2nd quarter worth about $121,000. Finally, Horan Capital Advisors LLC. purchased a new stake in Mastercard during the 3rd quarter worth about $131,000. 75.51% of the stock is currently owned by hedge funds and other institutional investors.
Mastercard Inc (NYSE:MA) opened at $175.76 on Monday. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $184,791.25, a PE ratio of 38.29, a PEG ratio of 1.63 and a beta of 1.26. Mastercard Inc has a 1 year low of $109.76 and a 1 year high of $177.11.
Mastercard declared that its board has initiated a stock repurchase program on Monday, December 4th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the credit services provider to purchase 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.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 9th. Investors of record on Monday, April 9th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, April 6th. This represents a $1.00 annualized dividend and a yield of 0.57%. Mastercard’s payout ratio is 27.40%.
In related news, insider Edward Grunde Mclaughlin sold 17,167 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $151.81, for a total transaction of $2,606,122.27. Following the transaction, the insider now directly owns 47,901 shares in the company, valued at approximately $7,271,850.81. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.30% of the stock is owned by company insiders.
Several research firms have weighed in on MA. Vetr raised Mastercard from a “hold” rating to a “buy” rating and set a $182.50 price target on the stock in a report on Wednesday, February 21st. Tigress Financial reaffirmed a “buy” rating on shares of Mastercard in a report on Thursday, February 8th. Zacks Investment Research raised Mastercard from a “hold” rating to a “buy” rating and set a $191.00 price target on the stock in a report on Monday, February 5th. BMO Capital Markets raised their price target on Mastercard to $206.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Finally, Cantor Fitzgerald raised their price target on Mastercard to $198.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Two investment analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the company’s stock. Mastercard presently has an average rating of “Buy” and a consensus price target of $177.40.
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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