Blue Edge Capital LLC lessened its holdings in shares of Mastercard Incorporated (NYSE:MA) by 4.0% during the 4th quarter, Holdings Channel reports. The firm owned 7,386 shares of the credit services provider’s stock after selling 305 shares during the period. Blue Edge Capital LLC’s holdings in Mastercard were worth $2,636,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JFS Wealth Advisors LLC purchased a new position in Mastercard during the 4th quarter valued at approximately $25,000. Jeppson Wealth Management LLC purchased a new position in Mastercard during the 3rd quarter valued at approximately $25,000. ForthRight Wealth Management LLC purchased a new position in Mastercard during the 4th quarter valued at approximately $31,000. Kinloch Capital LLC purchased a new position in Mastercard during the 4th quarter valued at approximately $32,000. Finally, Avion Wealth purchased a new position in Mastercard during the 3rd quarter valued at approximately $37,000. Institutional investors and hedge funds own 73.64% of the company’s stock.
In other news, major shareholder Foundation Mastercard sold 57,194 shares of the business’s stock in a transaction on Tuesday, February 16th. The stock was sold at an average price of $340.03, for a total value of $19,447,675.82. Following the completion of the transaction, the insider now directly owns 108,039,041 shares of the company’s stock, valued at approximately $36,736,515,111.23. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Edward Grunde Mclaughlin sold 13,248 shares of the business’s stock in a transaction on Friday, January 8th. The stock was sold at an average price of $350.73, for a total value of $4,646,471.04. Following the transaction, the insider now owns 38,447 shares in the company, valued at $13,484,516.31. The disclosure for this sale can be found here. Over the last three months, insiders sold 764,346 shares of company stock valued at $252,786,532. Corporate insiders own 3.79% of the company’s stock.
Mastercard (NYSE:MA) last released its quarterly earnings results on Thursday, January 28th. The credit services provider reported $1.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.51 by $0.13. The firm had revenue of $4.12 billion during the quarter, compared to analyst estimates of $4.01 billion. Mastercard had a return on equity of 114.80% and a net margin of 43.13%. The business’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.07 EPS. As a group, research analysts anticipate that Mastercard Incorporated will post 6.31 earnings per share for the current fiscal year.
Mastercard declared that its Board of Directors has authorized a stock buyback program on Tuesday, December 8th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the credit services provider to purchase up to 1.8% 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 Friday, May 7th. Stockholders of record on Friday, April 9th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 0.51%. The ex-dividend date is Thursday, April 8th. Mastercard’s payout ratio is 22.65%.
MA has been the subject of several research analyst reports. Wells Fargo & Company raised their price target on Mastercard from $350.00 to $400.00 and gave the company an “overweight” rating in a report on Monday, January 4th. Zacks Investment Research upgraded Mastercard from a “sell” rating to a “hold” rating and set a $358.00 target price for the company in a report on Tuesday, February 16th. Smith Barney Citigroup dropped their target price on Mastercard from $384.00 to $355.00 in a report on Thursday, October 29th. Sanford C. Bernstein began coverage on Mastercard in a report on Wednesday, January 27th. They issued an “outperform” rating and a $380.00 target price for the company. Finally, Bank of America upgraded Mastercard from a “neutral” rating to a “buy” rating and set a $400.00 target price for the company in a report on Wednesday, January 6th. Four investment analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $356.47.
Mastercard Company Profile
Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers related products and services.
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