Wealthstreet Investment Advisors LLC purchased a new position in shares of Mastercard Inc (NYSE:MA) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 16,309 shares of the credit services provider’s stock, valued at approximately $2,469,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of MA. Community Bank N.A. lifted its position in Mastercard by 119.7% during the 4th quarter. Community Bank N.A. now owns 670 shares of the credit services provider’s stock valued at $101,000 after purchasing an additional 365 shares during the period. Massey Quick Simon & CO. LLC acquired a new position in Mastercard during the 3rd quarter valued at about $102,000. Wealthcare Advisory Partners LLC acquired a new position in Mastercard during the 3rd quarter valued at about $106,000. Acrospire Investment Management LLC acquired a new position in Mastercard during the 2nd quarter valued at about $121,000. Finally, Horan Capital Advisors LLC. acquired a new position in Mastercard during the 3rd quarter valued at about $131,000. Institutional investors and hedge funds own 76.10% of the company’s stock.
A number of research analysts have issued reports on MA shares. Vetr upgraded shares of Mastercard from a “hold” rating to a “buy” rating and set a $157.45 target price on the stock in a research report on Wednesday, November 29th. Sanford C. Bernstein reaffirmed a “buy” rating and issued a $180.00 price target (up from $166.00) on shares of Mastercard in a research note on Monday, December 11th. Zacks Investment Research raised Mastercard from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research note on Tuesday, January 2nd. Royal Bank of Canada cut Mastercard from a “top pick” rating to an “outperform” rating and set a $130.00 price target for the company. in a research note on Thursday, January 4th. Finally, Mizuho raised Mastercard from a “neutral” rating to a “buy” rating in a research note on Thursday, January 4th. Two investment analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $177.40.
Mastercard (NYSE:MA) last issued its quarterly earnings results on Thursday, February 1st. The credit services provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.02. The company had revenue of $3.31 billion during the quarter, compared to analysts’ expectations of $3.25 billion. Mastercard had a net margin of 31.33% and a return on equity of 83.57%. The business’s quarterly revenue was up 20.2% on a year-over-year basis. During the same period last year, the business earned $0.86 EPS. analysts anticipate that Mastercard Inc will post 5.92 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 9th. Stockholders of record on Monday, April 9th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, April 6th. This represents a $1.00 annualized dividend and a dividend yield of 0.55%. Mastercard’s dividend payout ratio is currently 22.83%.
Mastercard announced that its board has approved a stock repurchase plan on Monday, December 4th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the credit services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
In other news, insider Edward Grunde Mclaughlin sold 17,167 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $151.81, for a total transaction of $2,606,122.27. Following the completion of the transaction, the insider now directly owns 47,901 shares of the company’s stock, valued at approximately $7,271,850.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.30% of the stock is owned by company insiders.
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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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