Montrusco Bolton Investments Inc. lifted its stake in shares of Mastercard Incorporated (NYSE:MA) by 4.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 125,069 shares of the credit services provider’s stock after buying an additional 5,423 shares during the period. Mastercard comprises approximately 0.9% of Montrusco Bolton Investments Inc.’s investment portfolio, making the stock its 27th biggest position. Montrusco Bolton Investments Inc.’s holdings in Mastercard were worth $17,647,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. American Beacon Advisors Inc. bought a new stake in shares of Mastercard in the first quarter worth $100,000. Chicago Partners Investment Group LLC grew its stake in shares of Mastercard by 1,365.6% in the second quarter. Chicago Partners Investment Group LLC now owns 938 shares of the credit services provider’s stock worth $105,000 after purchasing an additional 874 shares during the last quarter. Thompson Davis & CO. Inc. grew its stake in shares of Mastercard by 170.1% in the second quarter. Thompson Davis & CO. Inc. now owns 867 shares of the credit services provider’s stock worth $105,000 after purchasing an additional 546 shares during the last quarter. Proficio Capital Partners LLC grew its stake in shares of Mastercard by 108.2% in the first quarter. Proficio Capital Partners LLC now owns 893 shares of the credit services provider’s stock worth $108,000 after purchasing an additional 464 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Mastercard in the second quarter worth $121,000. Institutional investors own 75.81% of the company’s stock.
Shares of Mastercard Incorporated (MA) traded up $0.99 on Tuesday, reaching $150.88. 3,394,800 shares of the company’s stock were exchanged, compared to its average volume of 3,218,526. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $158,682.84, a PE ratio of 34.78, a P/E/G ratio of 2.00 and a beta of 1.20. Mastercard Incorporated has a twelve month low of $102.91 and a twelve month high of $154.65.
Mastercard announced that its board has authorized a share buyback program on Monday, December 4th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the credit services provider to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Tuesday, January 9th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend is Monday, January 8th. This is a boost from Mastercard’s previous quarterly dividend of $0.22. Mastercard’s dividend payout ratio is 20.47%.
In other news, insider Craig Vosburg sold 14,200 shares of the stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $141.86, for a total transaction of $2,014,412.00. Following the transaction, the insider now owns 40,646 shares of the company’s stock, valued at approximately $5,766,041.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard Haythornthwaite sold 5,000 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $142.51, for a total transaction of $712,550.00. Following the transaction, the director now directly owns 45,278 shares in the company, valued at approximately $6,452,567.78. The disclosure for this sale can be found here. Insiders have sold a total of 25,000 shares of company stock worth $3,582,984 in the last three months. Insiders own 0.30% of the company’s stock.
Several analysts recently weighed in on MA shares. Wedbush reissued a “buy” rating and issued a $140.00 price objective (up previously from $129.00) on shares of Mastercard in a research note on Wednesday, September 6th. Susquehanna Bancshares reissued a “positive” rating and issued a $158.00 price objective (up previously from $149.00) on shares of Mastercard in a research note on Friday, September 8th. Barclays boosted their price objective on shares of Mastercard from $142.00 to $148.00 and gave the stock an “overweight” rating in a research note on Friday, September 8th. Citigroup boosted their price objective on shares of Mastercard from $157.00 to $167.00 and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Finally, Instinet reissued a “buy” rating and issued a $163.00 price objective (up previously from $153.00) on shares of Mastercard in a research note on Saturday, September 9th. Two research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the company. Mastercard presently has a consensus rating of “Buy” and an average price target of $159.69.
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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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