Associated Banc Corp trimmed its position in shares of Mastercard Inc (NYSE:MA) by 3.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 75,191 shares of the credit services provider’s stock after selling 3,066 shares during the period. Associated Banc Corp’s holdings in Mastercard were worth $11,381,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. Intellectus Partners LLC increased its holdings in Mastercard by 3.2% in the 2nd quarter. Intellectus Partners LLC now owns 2,454 shares of the credit services provider’s stock valued at $298,000 after purchasing an additional 76 shares in the last quarter. Summit Financial Wealth Advisors LLC increased its holdings in Mastercard by 5.1% in the 2nd quarter. Summit Financial Wealth Advisors LLC now owns 1,869 shares of the credit services provider’s stock valued at $227,000 after purchasing an additional 90 shares in the last quarter. Bank of Hawaii increased its holdings in Mastercard by 0.3% in the 2nd quarter. Bank of Hawaii now owns 27,185 shares of the credit services provider’s stock valued at $3,302,000 after purchasing an additional 91 shares in the last quarter. Vestor Capital LLC increased its holdings in Mastercard by 0.3% in the 2nd quarter. Vestor Capital LLC now owns 37,485 shares of the credit services provider’s stock valued at $4,553,000 after purchasing an additional 100 shares in the last quarter. Finally, Pinebridge Investments L.P. increased its holdings in Mastercard by 1.5% in the 2nd quarter. Pinebridge Investments L.P. now owns 9,540 shares of the credit services provider’s stock valued at $1,159,000 after purchasing an additional 145 shares in the last quarter. Institutional investors and hedge funds own 75.22% of the company’s stock.
Mastercard Inc (MA) opened at $183.24 on Monday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.57 and a current ratio of 1.57. Mastercard Inc has a 12-month low of $110.13 and a 12-month high of $183.33. The company has a market cap of $192,660.00, a PE ratio of 41.84, a PEG ratio of 1.70 and a beta of 1.18.
Mastercard declared that its Board of Directors has initiated a share buyback program on Monday, December 4th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the credit services provider to buy shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 9th. Shareholders of record on Monday, April 9th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, April 6th. This represents a $1.00 dividend on an annualized basis and a yield of 0.55%. Mastercard’s dividend payout ratio is currently 22.83%.
In other Mastercard news, insider Edward Grunde Mclaughlin sold 17,167 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $151.81, for a total value of $2,606,122.27. Following the transaction, the insider now owns 47,901 shares of the company’s stock, valued at $7,271,850.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.30% of the company’s stock.
Several brokerages have recently weighed in on MA. Vetr upgraded Mastercard from a “hold” rating to a “buy” rating and set a $157.45 target price for the company in a research note on Wednesday, November 29th. Sanford C. Bernstein restated a “buy” rating and set a $180.00 target price (up from $166.00) on shares of Mastercard in a research note on Monday, December 11th. Zacks Investment Research upgraded Mastercard from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research note on Tuesday, January 2nd. Royal Bank of Canada downgraded Mastercard from a “top pick” rating to an “outperform” rating and set a $130.00 target price for the company. in a research note on Thursday, January 4th. Finally, Mizuho upgraded Mastercard from a “neutral” rating to a “buy” rating in a research note on Thursday, January 4th. Two research analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $177.40.
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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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