Elkhorn Investments LLC bought a new position in shares of Mastercard Incorporated (NYSE:MA) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,816 shares of the credit services provider’s stock, valued at approximately $1,274,000.
Several other institutional investors and hedge funds have also made changes to their positions in MA. Raymond James Financial Services Advisors Inc. raised its holdings in Mastercard by 39.2% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 106,737 shares of the credit services provider’s stock worth $12,008,000 after purchasing an additional 30,060 shares in the last quarter. Northstar Wealth Partners LLC purchased a new position in Mastercard during the first quarter worth about $284,000. LBA Wealth Management LLC raised its holdings in Mastercard by 3.3% during the first quarter. LBA Wealth Management LLC now owns 7,009 shares of the credit services provider’s stock worth $788,000 after purchasing an additional 225 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Mastercard by 5.9% during the first quarter. Envestnet Asset Management Inc. now owns 388,395 shares of the credit services provider’s stock worth $43,678,000 after purchasing an additional 21,577 shares in the last quarter. Finally, Greenwood Capital Associates LLC raised its holdings in Mastercard by 0.9% during the first quarter. Greenwood Capital Associates LLC now owns 40,219 shares of the credit services provider’s stock worth $4,523,000 after purchasing an additional 361 shares in the last quarter. Institutional investors and hedge funds own 75.81% of the company’s stock.
In related news, Director Richard Haythornthwaite sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $142.51, for a total transaction of $712,550.00. Following the sale, the director now owns 45,278 shares in the company, valued at $6,452,567.78. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Craig Vosburg sold 14,200 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $141.86, for a total transaction of $2,014,412.00. Following the sale, the insider now owns 40,646 shares in the company, valued at approximately $5,766,041.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,000 shares of company stock valued at $3,582,984. Corporate insiders own 0.30% of the company’s stock.
Several research analysts recently issued reports on MA shares. Wedbush reissued a “buy” rating and set a $140.00 price target (up from $129.00) on shares of Mastercard in a report on Wednesday, September 6th. Susquehanna Bancshares reissued a “positive” rating and set a $158.00 price target (up from $149.00) on shares of Mastercard in a report on Friday, September 8th. Barclays increased their price target on shares of Mastercard from $142.00 to $148.00 and gave the stock an “overweight” rating in a report on Friday, September 8th. Citigroup increased their price target on shares of Mastercard from $157.00 to $167.00 and gave the stock a “buy” rating in a report on Wednesday, October 18th. Finally, Instinet reaffirmed a “buy” rating and issued a $163.00 target price (up from $153.00) on shares of Mastercard in a report on Saturday, September 9th. Two investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company. Mastercard has a consensus rating of “Buy” and a consensus price target of $159.22.
Shares of Mastercard Incorporated (NYSE:MA) traded up $2.03 on Thursday, hitting $149.45. 3,417,928 shares of the stock were exchanged, compared to its average volume of 3,220,732. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.66 and a current ratio of 1.66. Mastercard Incorporated has a fifty-two week low of $102.91 and a fifty-two week high of $154.65. The stock has a market cap of $158,610.00, a PE ratio of 33.67, a price-to-earnings-growth ratio of 1.93 and a beta of 1.21.
Mastercard (NYSE:MA) last issued its quarterly earnings data on Tuesday, October 31st. The credit services provider reported $1.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.23 by $0.11. Mastercard had a net margin of 38.70% and a return on equity of 78.38%. The business had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.28 billion. During the same period last year, the company posted $1.08 EPS. The company’s revenue was up 18.1% on a year-over-year basis. equities analysts expect that Mastercard Incorporated will post 4.54 earnings per share for the current year.
Mastercard announced that its Board of Directors has initiated a share buyback program on Monday, December 4th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the credit services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Tuesday, January 9th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.67%. This is a boost from Mastercard’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Monday, January 8th. Mastercard’s dividend payout ratio (DPR) is 20.51%.
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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