Capital Management Corp VA lessened its position in shares of Mastercard Inc (NYSE:MA) by 4.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 59,949 shares of the credit services provider’s stock after selling 2,699 shares during the period. Mastercard accounts for 2.5% of Capital Management Corp VA’s holdings, making the stock its 18th biggest holding. Capital Management Corp VA’s holdings in Mastercard were worth $9,074,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in MA. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Mastercard by 0.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 206,730 shares of the credit services provider’s stock worth $25,107,000 after purchasing an additional 1,125 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in Mastercard by 5.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 56,379 shares of the credit services provider’s stock worth $6,847,000 after purchasing an additional 2,948 shares during the period. Brighton Jones LLC acquired a new stake in Mastercard in the second quarter worth $301,000. OMERS ADMINISTRATION Corp acquired a new stake in Mastercard in the second quarter worth $2,351,000. Finally, Allen Investment Management LLC acquired a new stake in Mastercard in the second quarter worth $884,000. 75.51% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have commented on the stock. Vetr upgraded shares of Mastercard from a “sell” rating to a “hold” rating and set a $158.70 price target for the company in a report on Thursday, January 11th. Tigress Financial restated a “buy” rating on shares of Mastercard in a report on Thursday, February 8th. Sanford C. Bernstein restated a “buy” rating and issued a $180.00 price target (up from $166.00) on shares of Mastercard in a report on Monday, December 11th. Argus upgraded shares of Mastercard from a “hold” rating to a “buy” rating and set a $200.00 price target for the company in a report on Friday, February 2nd. Finally, Cantor Fitzgerald raised their price target on shares of Mastercard to $198.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Two investment analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $177.40.
Mastercard (NYSE:MA) last released its quarterly earnings results on Thursday, February 1st. The credit services provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.02. Mastercard had a net margin of 31.33% and a return on equity of 83.57%. The business had revenue of $3.31 billion for the quarter, compared to analysts’ expectations of $3.25 billion. During the same period in the previous year, the company earned $0.86 earnings per share. The firm’s revenue for the quarter was up 20.2% compared to the same quarter last year. analysts predict that Mastercard Inc will post 5.88 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 9th. Investors of record on Monday, April 9th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend is Friday, April 6th. Mastercard’s dividend payout ratio (DPR) is presently 22.37%.
Mastercard announced that its Board of Directors has approved a stock repurchase program on Monday, December 4th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the credit services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
In related news, insider Edward Grunde Mclaughlin sold 17,167 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $151.81, for a total transaction of $2,606,122.27. Following the transaction, the insider now directly owns 47,901 shares in the company, valued at $7,271,850.81. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.30% of the stock is currently owned by insiders.
Mastercard Company Profile
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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