WealthPLAN Partners LLC raised its stake in shares of Mastercard Incorporated (NYSE:MA) by 3,899.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,999 shares of the credit services provider’s stock after acquiring an additional 3,899 shares during the quarter. WealthPLAN Partners LLC’s holdings in Mastercard were worth $486,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in MA. Advisor Group Inc. boosted its position in shares of Mastercard by 1.0% in the 2nd quarter. Advisor Group Inc. now owns 82,476 shares of the credit services provider’s stock worth $9,863,000 after purchasing an additional 781 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Mastercard by 0.6% in the 2nd quarter. Nordea Investment Management AB now owns 1,041,071 shares of the credit services provider’s stock worth $126,438,000 after purchasing an additional 5,745 shares in the last quarter. Elkhorn Investments LLC acquired a new stake in shares of Mastercard in the 2nd quarter worth $1,274,000. Cibc World Markets Corp boosted its position in shares of Mastercard by 28.5% in the 2nd quarter. Cibc World Markets Corp now owns 132,551 shares of the credit services provider’s stock worth $16,098,000 after purchasing an additional 29,425 shares in the last quarter. Finally, Harfst & Associates Inc. boosted its position in shares of Mastercard by 59.7% in the 2nd quarter. Harfst & Associates Inc. now owns 2,909 shares of the credit services provider’s stock worth $353,000 after purchasing an additional 1,087 shares in the last quarter. 75.81% of the stock is currently owned by institutional investors and hedge funds.
Mastercard Incorporated (MA) traded up $2.03 during midday trading on Thursday, hitting $149.45. The company’s stock had a trading volume of 3,417,928 shares, compared to its average volume of 3,220,732. The stock has a market cap of $158,610.00, a price-to-earnings ratio of 33.67, a P/E/G ratio of 1.93 and a beta of 1.21. Mastercard Incorporated has a twelve month low of $102.91 and a twelve month high of $154.65. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.66 and a quick ratio of 1.66.
Mastercard (NYSE:MA) last released its quarterly earnings data on Tuesday, October 31st. The credit services provider reported $1.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.23 by $0.11. The business had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.28 billion. Mastercard had a return on equity of 78.38% and a net margin of 38.70%. The company’s revenue was up 18.1% on a year-over-year basis. During the same quarter last year, the business posted $1.08 EPS. sell-side analysts expect that Mastercard Incorporated will post 4.54 earnings per share for the current year.
Mastercard declared that its Board of Directors has authorized a stock buyback plan on Monday, December 4th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the credit services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Tuesday, January 9th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, January 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.67%. This is a positive change from Mastercard’s previous quarterly dividend of $0.22. Mastercard’s dividend payout ratio (DPR) is presently 20.51%.
In related news, insider Michael Fraccaro sold 5,800 shares of Mastercard stock in a transaction dated Thursday, October 12th. The stock was sold at an average price of $147.59, for a total value of $856,022.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Craig Vosburg sold 14,200 shares of Mastercard stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $141.86, for a total value of $2,014,412.00. Following the completion of the transaction, the insider now owns 40,646 shares of the company’s stock, valued at approximately $5,766,041.56. The disclosure for this sale can be found here. Insiders have sold a total of 25,000 shares of company stock valued at $3,582,984 in the last quarter. Company insiders own 0.30% of the company’s stock.
A number of analysts have recently weighed in on the company. Bank of America raised their price objective on Mastercard from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, November 6th. Cantor Fitzgerald reissued a “buy” rating and issued a $165.00 price objective on shares of Mastercard in a research report on Tuesday, October 31st. Zacks Investment Research cut Mastercard from a “buy” rating to a “hold” rating in a research report on Wednesday, November 8th. Loop Capital raised their price objective on Mastercard to $167.00 and gave the stock a “buy” rating in a research report on Wednesday, November 1st. They noted that the move was a valuation call. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $174.00 price objective (up previously from $157.00) on shares of Mastercard in a research report on Wednesday, November 1st. Two research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $159.22.
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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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