Sumitomo Mitsui Asset Management Company LTD increased its stake in shares of Mastercard Incorporated (NYSE:MA) by 42.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 575,528 shares of the credit services provider’s stock after buying an additional 171,873 shares during the period. Mastercard comprises 1.3% of Sumitomo Mitsui Asset Management Company LTD’s portfolio, making the stock its 14th largest holding. Sumitomo Mitsui Asset Management Company LTD owned 0.05% of Mastercard worth $81,264,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in MA. Boys Arnold & Co. Inc. lifted its holdings in shares of Mastercard by 7.8% in the second quarter. Boys Arnold & Co. Inc. now owns 5,006 shares of the credit services provider’s stock valued at $608,000 after purchasing an additional 363 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in shares of Mastercard in the second quarter valued at about $2,351,000. Baldwin Investment Management LLC lifted its holdings in shares of Mastercard by 5.9% in the second quarter. Baldwin Investment Management LLC now owns 3,600 shares of the credit services provider’s stock valued at $437,000 after purchasing an additional 200 shares in the last quarter. Personal Capital Advisors Corp lifted its holdings in shares of Mastercard by 3.3% in the second quarter. Personal Capital Advisors Corp now owns 270,438 shares of the credit services provider’s stock valued at $32,845,000 after purchasing an additional 8,670 shares in the last quarter. Finally, IBM Retirement Fund lifted its holdings in shares of Mastercard by 68.8% in the second quarter. IBM Retirement Fund now owns 23,051 shares of the credit services provider’s stock valued at $3,128,000 after purchasing an additional 9,397 shares in the last quarter. 75.57% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Richard Haythornthwaite sold 5,000 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $142.51, for a total value of $712,550.00. Following the completion of the sale, the director now owns 45,278 shares of the company’s stock, valued at $6,452,567.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Craig Vosburg sold 14,200 shares of the stock in a transaction on 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 directly owns 40,646 shares of the company’s stock, valued at approximately $5,766,041.56. The disclosure for this sale can be found here. Insiders have sold 25,000 shares of company stock valued at $3,582,984 in the last ninety days. 0.30% of the stock is currently owned by company insiders.
Mastercard Incorporated (NYSE:MA) opened at $151.68 on Wednesday. Mastercard Incorporated has a 52-week low of $102.98 and a 52-week high of $154.65. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.66 and a current ratio of 1.66. The company has a market cap of $160,580.00, a P/E ratio of 35.53, a P/E/G ratio of 2.04 and a beta of 1.21.
Mastercard (NYSE:MA) last issued its quarterly earnings results on Tuesday, October 31st. The credit services provider reported $1.34 EPS for the quarter, topping the consensus estimate of $1.23 by $0.11. Mastercard had a net margin of 38.70% and a return on equity of 78.38%. 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 prior year, the business posted $1.08 earnings per share. Mastercard’s revenue for the quarter was up 18.1% compared to the same quarter last year. equities research analysts expect that Mastercard Incorporated will post 4.54 EPS for the current fiscal year.
Mastercard announced that its board has initiated a stock repurchase program on Monday, December 4th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the credit services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Tuesday, January 9th will be given a dividend of $0.25 per share. This is a positive change from Mastercard’s previous quarterly dividend of $0.22. The ex-dividend date is Monday, January 8th. This represents a $1.00 annualized dividend and a yield of 0.66%. Mastercard’s dividend payout ratio is 20.51%.
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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