Chase Investment Counsel Corp cut its holdings in shares of Mastercard Inc (NYSE:MA) by 3.9% during the 4th quarter, Holdings Channel reports. The firm owned 25,998 shares of the credit services provider’s stock after selling 1,045 shares during the quarter. Mastercard comprises approximately 2.9% of Chase Investment Counsel Corp’s holdings, making the stock its 11th biggest position. Chase Investment Counsel Corp’s holdings in Mastercard were worth $4,904,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kentucky Retirement Systems bought a new position in shares of Mastercard in the third quarter worth approximately $7,141,000. Russell Investments Group Ltd. increased its position in shares of Mastercard by 13.3% in the third quarter. Russell Investments Group Ltd. now owns 2,640,138 shares of the credit services provider’s stock worth $587,406,000 after purchasing an additional 310,839 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its position in shares of Mastercard by 1.4% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 372,696 shares of the credit services provider’s stock worth $70,310,000 after purchasing an additional 5,100 shares during the last quarter. Sandell Asset Management Corp. bought a new position in shares of Mastercard in the third quarter worth approximately $1,113,000. Finally, Bank of Hawaii increased its position in shares of Mastercard by 3.6% in the third quarter. Bank of Hawaii now owns 29,616 shares of the credit services provider’s stock worth $6,593,000 after purchasing an additional 1,040 shares during the last quarter. 74.31% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Richard Haythornthwaite sold 5,000 shares of the firm’s stock in a transaction on Monday, December 17th. The stock was sold at an average price of $192.00, for a total value of $960,000.00. Following the completion of the sale, the director now owns 40,183 shares of the company’s stock, valued at $7,715,136. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Edward Grunde Mclaughlin sold 20,269 shares of the firm’s stock in a transaction on Tuesday, January 22nd. The stock was sold at an average price of $199.53, for a total value of $4,044,273.57. Following the completion of the sale, the insider now directly owns 37,374 shares of the company’s stock, valued at approximately $7,457,234.22. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.
A number of research analysts have commented on the stock. Zacks Investment Research cut shares of Mastercard from a “buy” rating to a “hold” rating in a research report on Tuesday, November 20th. Nomura increased their price target on shares of Mastercard to $252.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Oppenheimer increased their price target on shares of Mastercard from $221.00 to $242.00 and gave the company an “outperform” rating in a research report on Monday, February 4th. Three equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $226.45.
Shares of MA stock opened at $219.31 on Friday. Mastercard Inc has a 52 week low of $167.94 and a 52 week high of $225.35. The firm has a market capitalization of $227.82 billion, a P/E ratio of 33.79, a price-to-earnings-growth ratio of 1.76 and a beta of 1.11. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.08.
Mastercard (NYSE:MA) last announced its quarterly earnings results on Thursday, January 31st. The credit services provider reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.03. Mastercard had a return on equity of 122.25% and a net margin of 39.19%. The company had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.79 billion. Sell-side analysts anticipate that Mastercard Inc will post 7.55 EPS for the current fiscal year.
Mastercard announced that its Board of Directors has approved a share repurchase program on Tuesday, December 4th that allows the company to repurchase $6.50 billion in shares. This repurchase authorization allows the credit services provider to buy shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Tuesday, April 9th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend is Monday, April 8th. Mastercard’s payout ratio is 20.34%.
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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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