Wendell David Associates Inc. lowered its stake in shares of Mastercard Incorporated (NYSE:MA) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174,065 shares of the credit services provider’s stock after selling 4,257 shares during the quarter. Mastercard comprises 4.5% of Wendell David Associates Inc.’s holdings, making the stock its 2nd largest holding. Wendell David Associates Inc.’s holdings in Mastercard were worth $26,346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. Convergence Investment Partners LLC acquired a new stake in Mastercard in the fourth quarter worth about $211,000. USS Investment Management Ltd boosted its holdings in Mastercard by 29.4% in the fourth quarter. USS Investment Management Ltd now owns 1,935,000 shares of the credit services provider’s stock worth $293,781,000 after acquiring an additional 440,000 shares in the last quarter. Legacy Private Trust Co. boosted its holdings in Mastercard by 13.6% in the fourth quarter. Legacy Private Trust Co. now owns 23,557 shares of the credit services provider’s stock worth $3,566,000 after acquiring an additional 2,820 shares in the last quarter. Oakmont Partners LLC acquired a new stake in Mastercard in the fourth quarter worth about $201,000. Finally, Gofen & Glossberg LLC IL boosted its holdings in Mastercard by 1.2% in the fourth quarter. Gofen & Glossberg LLC IL now owns 157,242 shares of the credit services provider’s stock worth $23,800,000 after acquiring an additional 1,800 shares in the last quarter. 75.79% of the stock is currently owned by institutional investors.
Mastercard Incorporated (NYSE:MA) opened at $167.12 on Thursday. Mastercard Incorporated has a 12 month low of $106.50 and a 12 month high of $177.11. The stock has a market capitalization of $178,630.00, a PE ratio of 45.78, a PEG ratio of 1.57 and a beta of 1.26. The company has a quick ratio of 1.66, a current ratio of 1.57 and a debt-to-equity ratio of 0.99.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 9th. Investors of record on Monday, April 9th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.60%. The ex-dividend date is Friday, April 6th. Mastercard’s dividend payout ratio is currently 27.40%.
Mastercard declared that its Board of Directors has authorized a stock repurchase plan on Monday, December 4th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the credit services provider to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.
Several brokerages have weighed in on MA. Barclays raised their price target on Mastercard from $170.00 to $178.00 and gave the stock an “overweight” rating in a report on Tuesday, January 30th. Argus raised 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. KeyCorp raised their price target on Mastercard from $170.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Zacks Investment Research downgraded Mastercard from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, Sanford C. Bernstein reissued a “buy” rating and issued a $180.00 price target (up previously from $166.00) on shares of Mastercard in a report on Monday, December 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirty have assigned a buy rating to the company. Mastercard presently has a consensus rating of “Buy” and an average price target of $176.64.
In related news, insider Edward Grunde Mclaughlin sold 17,167 shares of Mastercard stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $151.81, for a total transaction of $2,606,122.27. Following the completion of the transaction, the insider now directly owns 47,901 shares in the company, valued at $7,271,850.81. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.30% of the stock is currently owned by company 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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