Crow Point Partners LLC reduced its position in Mastercard Incorporated (NYSE:MA) by 0.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 80,709 shares of the credit services provider’s stock after selling 546 shares during the quarter. Mastercard makes up about 1.8% of Crow Point Partners LLC’s holdings, making the stock its 18th largest position. Crow Point Partners LLC’s holdings in Mastercard were worth $11,315,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Glassman Wealth Services grew its position in shares of Mastercard by 0.3% in the first quarter. Glassman Wealth Services now owns 1,769 shares of the credit services provider’s stock valued at $199,000 after purchasing an additional 6 shares in the last quarter. Proficio Capital Partners LLC grew its position in shares of Mastercard by 1.3% in the second quarter. Proficio Capital Partners LLC now owns 905 shares of the credit services provider’s stock valued at $118,000 after purchasing an additional 12 shares in the last quarter. Berkshire Asset Management LLC PA grew its position in shares of Mastercard by 0.3% in the second quarter. Berkshire Asset Management LLC PA now owns 6,448 shares of the credit services provider’s stock valued at $783,000 after purchasing an additional 18 shares in the last quarter. First Interstate Bank grew its position in shares of Mastercard by 1.4% in the second quarter. First Interstate Bank now owns 1,643 shares of the credit services provider’s stock valued at $200,000 after purchasing an additional 23 shares in the last quarter. Finally, Lourd Capital LLC grew its position in shares of Mastercard by 0.5% in the second quarter. Lourd Capital LLC now owns 5,423 shares of the credit services provider’s stock valued at $659,000 after purchasing an additional 26 shares in the last quarter. 75.81% of the stock is owned by institutional investors and hedge funds.
In other Mastercard news, insider Craig Vosburg sold 14,200 shares of Mastercard stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $141.86, for a total transaction of $2,014,412.00. Following the completion of the sale, the insider now owns 40,646 shares of the company’s stock, valued at $5,766,041.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard Haythornthwaite sold 5,000 shares of Mastercard stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $142.51, for a total value of $712,550.00. Following the sale, the director now directly owns 45,278 shares of the company’s stock, valued at approximately $6,452,567.78. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,000 shares of company stock valued at $3,582,984. Corporate insiders own 0.30% of the company’s stock.
Mastercard (NYSE:MA) last issued its quarterly earnings results on Tuesday, October 31st. The credit services provider reported $1.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.23 by $0.11. Mastercard had a return on equity of 78.38% and a net margin of 38.70%. The firm had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.28 billion. During the same quarter in the previous year, the company posted $1.08 earnings per share. The company’s revenue was up 18.1% compared to the same quarter last year. equities analysts expect that Mastercard Incorporated will post 4.54 earnings per share for the current fiscal year.
Mastercard announced that its board has authorized a share repurchase plan on Monday, December 4th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the credit services provider to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Tuesday, January 9th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, January 8th. This represents a $1.00 annualized dividend and a yield of 0.66%. This is a positive change from Mastercard’s previous quarterly dividend of $0.22. Mastercard’s payout ratio is 20.47%.
Several brokerages have recently weighed in on MA. Sanford C. Bernstein reiterated an “outperform” rating and issued a $180.00 price target (up from $166.00) on shares of Mastercard in a research report on Monday. Vetr raised Mastercard from a “buy” rating to a “strong-buy” rating and set a $161.72 price objective for the company in a research note on Tuesday, December 5th. Zacks Investment Research lowered Mastercard from a “buy” rating to a “hold” rating in a research note on Wednesday, November 8th. Bank of America lifted their price objective on Mastercard from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, November 6th. Finally, J P Morgan Chase & Co lifted their price objective on Mastercard from $152.00 to $160.00 and gave the company an “overweight” rating in a research note on Wednesday, November 1st. Two equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average 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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