IBM Retirement Fund trimmed its holdings in shares of Mastercard Incorporated (NYSE:MA – Get Rating) by 41.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 14,568 shares of the credit services provider’s stock after selling 10,133 shares during the period. Mastercard makes up about 0.7% of IBM Retirement Fund’s investment portfolio, making the stock its 19th biggest position. IBM Retirement Fund’s holdings in Mastercard were worth $5,235,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in the company. Cranbrook Wealth Management LLC grew its stake in Mastercard by 217.4% during the third quarter. Cranbrook Wealth Management LLC now owns 73 shares of the credit services provider’s stock worth $25,000 after buying an additional 50 shares during the last quarter. Avion Wealth raised its position in Mastercard by 34.0% in the 3rd quarter. Avion Wealth now owns 134 shares of the credit services provider’s stock valued at $47,000 after purchasing an additional 34 shares during the last quarter. Core Alternative Capital acquired a new position in Mastercard in the third quarter worth $47,000. Wealth Quarterback LLC grew its holdings in shares of Mastercard by 186.8% during the third quarter. Wealth Quarterback LLC now owns 152 shares of the credit services provider’s stock worth $55,000 after purchasing an additional 99 shares during the last quarter. Finally, HBC Financial Services PLLC acquired a new stake in shares of Mastercard in the third quarter valued at $60,000. Institutional investors own 73.86% of the company’s stock.
In other news, major shareholder Foundation Mastercard sold 155,060 shares of the stock in a transaction that occurred on Wednesday, February 9th. The stock was sold at an average price of $383.74, for a total value of $59,502,724.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Edward Grunde Mclaughlin sold 15,310 shares of the company’s stock in a transaction on Friday, January 28th. The stock was sold at an average price of $360.26, for a total transaction of $5,515,580.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 480,490 shares of company stock valued at $181,379,981. 0.33% of the stock is owned by insiders.
Several equities research analysts have weighed in on the stock. Raymond James lowered their price objective on shares of Mastercard from $453.00 to $447.00 and set an “outperform” rating for the company in a research report on Friday, January 28th. Mizuho dropped their price objective on shares of Mastercard from $465.00 to $400.00 and set a “buy” rating for the company in a research report on Friday, January 7th. Morgan Stanley increased their price objective on Mastercard from $448.00 to $449.00 and gave the company an “overweight” rating in a research report on Friday, January 28th. Wedbush cut their price target on Mastercard from $400.00 to $380.00 and set an “outperform” rating on the stock in a research note on Monday, December 20th. Finally, UBS Group started coverage on Mastercard in a research report on Thursday, November 18th. They issued a “buy” rating and a $448.00 price objective for the company. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $429.20.
Shares of MA traded up $9.68 during midday trading on Thursday, hitting $344.68. The stock had a trading volume of 4,340,750 shares, compared to its average volume of 5,126,335. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a market cap of $336.92 billion, a price-to-earnings ratio of 39.35, a price-to-earnings-growth ratio of 1.55 and a beta of 1.09. The company has a 50 day simple moving average of $360.82 and a two-hundred day simple moving average of $351.95. Mastercard Incorporated has a twelve month low of $305.61 and a twelve month high of $401.50.
Mastercard (NYSE:MA – Get Rating) last announced its earnings results on Thursday, January 27th. The credit services provider reported $2.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.19 by $0.16. Mastercard had a return on equity of 122.90% and a net margin of 46.00%. The business had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.17 billion. During the same quarter last year, the firm earned $1.64 EPS. Mastercard’s revenue for the quarter was up 26.6% compared to the same quarter last year. Analysts forecast that Mastercard Incorporated will post 10.35 EPS for the current fiscal year.
Mastercard announced that its board has initiated a stock repurchase plan on Tuesday, November 30th that allows the company to repurchase $8.00 billion in outstanding shares. This repurchase authorization allows the credit services provider to reacquire up to 2.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 9th. Stockholders of record on Friday, April 8th will be given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Thursday, April 7th. Mastercard’s dividend payout ratio is presently 22.37%.
Mastercard Profile (Get Rating)
Mastercard, Inc operates as a technology company. The firm engages in the payments industry that connects consumers, financial institutions, merchants, governments and business. It offers payment solutions for the development and implementation of credit, debit, prepaid, commercial and payment programs.
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