Bridgewater Associates LP cut its holdings in Mastercard Inc (NYSE:MA) by 79.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,388 shares of the credit services provider’s stock after selling 25,178 shares during the quarter. Bridgewater Associates LP’s holdings in Mastercard were worth $1,422,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Baker Ellis Asset Management LLC purchased a new stake in Mastercard during the third quarter worth $104,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in Mastercard during the second quarter worth $109,000. Fort L.P. purchased a new stake in Mastercard during the second quarter worth $120,000. Bogart Wealth LLC boosted its position in Mastercard by 434.7% during the third quarter. Bogart Wealth LLC now owns 663 shares of the credit services provider’s stock worth $148,000 after purchasing an additional 539 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in Mastercard during the second quarter worth $131,000. Hedge funds and other institutional investors own 74.84% of the company’s stock.
MA has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Mastercard from a “hold” rating to a “buy” rating and set a $223.00 target price on the stock in a research report on Monday, November 19th. Loop Capital set a $232.00 target price on Mastercard and gave the stock a “buy” rating in a research report on Wednesday, October 31st. Goldman Sachs Group upgraded Mastercard from a “buy” rating to a “conviction-buy” rating in a research report on Monday, September 17th. BMO Capital Markets boosted their target price on Mastercard from $238.00 to $248.00 and gave the stock an “outperform” rating in a research report on Thursday, November 1st. Finally, Royal Bank of Canada boosted their target price on Mastercard from $223.00 to $232.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 11th. They noted that the move was a valuation call. Three analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $221.28.
In other Mastercard news, Director Richard K. Davis bought 2,475 shares of the company’s stock in a transaction that occurred on Friday, November 2nd. The stock was purchased at an average cost of $196.37 per share, for a total transaction of $486,015.75. Following the completion of the purchase, the director now owns 3,468 shares of the company’s stock, valued at approximately $681,011.16. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.32% of the company’s stock.
Shares of NYSE:MA opened at $196.50 on Friday. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.01. Mastercard Inc has a 52-week low of $149.17 and a 52-week high of $225.35. The firm has a market capitalization of $207.06 billion, a PE ratio of 42.90, a P/E/G ratio of 1.72 and a beta of 1.21.
Mastercard (NYSE:MA) last issued its quarterly earnings data on Tuesday, October 30th. The credit services provider reported $1.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.68 by $0.10. Mastercard had a return on equity of 114.58% and a net margin of 35.88%. The business had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.86 billion. During the same period in the prior year, the business earned $1.34 earnings per share. The business’s revenue was up 14.7% on a year-over-year basis. On average, equities analysts anticipate that Mastercard Inc will post 6.43 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 8th. Stockholders of record on Wednesday, January 9th will be given a $0.33 dividend. This is an increase from Mastercard’s previous quarterly dividend of $0.25. This represents a $1.32 annualized dividend and a dividend yield of 0.67%. The ex-dividend date is Tuesday, January 8th. Mastercard’s dividend payout ratio is currently 21.83%.
Mastercard declared that its board has approved a stock buyback plan on Tuesday, December 4th that allows the company to repurchase $6.50 million in shares. This repurchase authorization allows the credit services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.
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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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