Gardner Russo & Gardner LLC cut its holdings in Mastercard Inc (NYSE:MA) by 3.6% in the third quarter, HoldingsChannel reports. The firm owned 8,351,354 shares of the credit services provider’s stock after selling 308,279 shares during the period. Mastercard accounts for approximately 13.4% of Gardner Russo & Gardner LLC’s portfolio, making the stock its 2nd biggest holding. Gardner Russo & Gardner LLC’s holdings in Mastercard were worth $1,859,095,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the stock. Baker Ellis Asset Management LLC acquired a new position in shares of Mastercard during the third quarter valued at about $104,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in shares of Mastercard during the second quarter valued at about $109,000. Fort L.P. acquired a new position in shares of Mastercard during the second quarter valued at about $120,000. Point72 Hong Kong Ltd acquired a new position in shares of Mastercard during the second quarter valued at about $131,000. Finally, Bogart Wealth LLC raised its position in shares of Mastercard by 434.7% during the third quarter. Bogart Wealth LLC now owns 663 shares of the credit services provider’s stock valued at $148,000 after buying an additional 539 shares during the last quarter. Hedge funds and other institutional investors own 74.84% of the company’s stock.
NYSE:MA opened at $196.50 on Friday. Mastercard Inc has a 12-month low of $149.17 and a 12-month high of $225.35. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.55 and a quick ratio of 1.55. The stock has a market capitalization of $209.65 billion, a P/E ratio of 33.39, a price-to-earnings-growth ratio of 1.74 and a beta of 1.21.
Mastercard (NYSE:MA) last posted its quarterly earnings results on Tuesday, October 30th. The credit services provider reported $1.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.10. Mastercard had a net margin of 35.88% and a return on equity of 114.58%. The firm had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.86 billion. During the same quarter in the prior year, the business posted $1.34 earnings per share. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. Equities analysts predict that Mastercard Inc will post 6.43 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 8th. Investors of record on Wednesday, January 9th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Tuesday, January 8th. This is a positive change from Mastercard’s previous quarterly dividend of $0.25. Mastercard’s dividend payout ratio is 21.83%.
Mastercard announced that its Board of Directors has authorized a stock buyback program on Tuesday, December 4th that permits the company to buyback $6.50 million in outstanding shares. This buyback authorization permits the credit services provider to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.
A number of brokerages have recently commented on MA. Zacks Investment Research lowered shares of Mastercard from a “buy” rating to a “hold” rating in a research report on Friday. Barclays began coverage on shares of Mastercard in a research report on Wednesday, November 14th. They set an “overweight” rating and a $240.00 price objective for the company. BMO Capital Markets upped their price objective on shares of Mastercard from $238.00 to $248.00 and gave the company an “outperform” rating in a research report on Thursday, November 1st. Loop Capital set a $232.00 price objective on shares of Mastercard and gave the company a “buy” rating in a research report on Wednesday, October 31st. Finally, Credit Suisse Group upped their price objective on shares of Mastercard from $210.00 to $224.00 and gave the company an “outperform” rating in a research report on Monday, October 8th. Three equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the company. Mastercard presently has a consensus rating of “Buy” and an average target price of $221.28.
In other Mastercard news, Director Richard K. Davis purchased 2,475 shares of the company’s stock in a transaction that occurred on Friday, November 2nd. The stock was purchased at an average price of $196.37 per share, with a total value of $486,015.75. Following the completion of the transaction, the director now directly owns 3,468 shares of the company’s stock, valued at approximately $681,011.16. The transaction 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.
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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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