Wealthfront Inc. grew its position in shares of Mastercard (NYSE:MA) by 7.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,996 shares of the credit services provider’s stock after acquiring an additional 2,642 shares during the quarter. Wealthfront Inc.’s holdings in Mastercard were worth $5,751,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the business. TIAA FSB purchased a new stake in shares of Mastercard in the second quarter worth about $10,324,000. MML Investors Services LLC boosted its position in shares of Mastercard by 13.9% in the second quarter. MML Investors Services LLC now owns 29,415 shares of the credit services provider’s stock worth $3,573,000 after buying an additional 3,587 shares during the period. FIL Ltd boosted its position in shares of Mastercard by 169.4% in the second quarter. FIL Ltd now owns 917,426 shares of the credit services provider’s stock worth $111,421,000 after buying an additional 576,895 shares during the period. California Public Employees Retirement System boosted its position in shares of Mastercard by 1.7% in the second quarter. California Public Employees Retirement System now owns 2,225,700 shares of the credit services provider’s stock worth $270,311,000 after buying an additional 37,500 shares during the period. Finally, GQG Partners LLC boosted its position in shares of Mastercard by 444.1% in the second quarter. GQG Partners LLC now owns 301,695 shares of the credit services provider’s stock worth $36,641,000 after buying an additional 246,247 shares during the period. Institutional investors own 76.04% of the company’s stock.
Shares of Mastercard (MA) opened at $180.58 on Tuesday. Mastercard has a one year low of $110.33 and a one year high of $183.73. The stock has a market capitalization of $191,930.16, a P/E ratio of 49.47, a price-to-earnings-growth ratio of 1.68 and a beta of 1.17. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.99.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 9th. Shareholders of record on Monday, April 9th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.55%. The ex-dividend date is Friday, April 6th. Mastercard’s payout ratio is currently 27.40%.
Mastercard announced that its Board of Directors has authorized a share repurchase program on Monday, December 4th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the credit services provider to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.
Several equities research analysts have recently weighed in on the company. Vetr raised Mastercard from a “hold” rating to a “buy” rating and set a $182.50 target price for the company in a research report on Wednesday, February 21st. Piper Jaffray Companies upped their target price on Mastercard from $208.00 to $212.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Morgan Stanley upped their target price on Mastercard from $178.00 to $192.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Barclays upped their target price on Mastercard from $178.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Finally, Cantor Fitzgerald increased their price target on Mastercard to $198.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Two equities research analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the stock. Mastercard has a consensus rating of “Buy” and an average price target of $177.40.
In other news, Director David R. Carlucci sold 5,950 shares of the stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $183.10, for a total transaction of $1,089,445.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Edward Grunde Mclaughlin sold 17,167 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $151.81, for a total value of $2,606,122.27. Following the sale, the insider now owns 47,901 shares in the company, valued at $7,271,850.81. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.
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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