Fisher Asset Management LLC increased its holdings in shares of Mastercard Incorporated (NYSE:MA) by 2.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 321,219 shares of the credit services provider’s stock after purchasing an additional 7,244 shares during the period. Fisher Asset Management LLC’s holdings in Mastercard were worth $45,356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of the stock. American Beacon Advisors Inc. purchased a new position in Mastercard in the first quarter valued at $100,000. Chicago Partners Investment Group LLC increased its holdings in Mastercard by 1,365.6% in the second quarter. Chicago Partners Investment Group LLC now owns 938 shares of the credit services provider’s stock valued at $105,000 after buying an additional 874 shares in the last quarter. Thompson Davis & CO. Inc. increased its holdings in Mastercard by 170.1% in the second quarter. Thompson Davis & CO. Inc. now owns 867 shares of the credit services provider’s stock valued at $105,000 after buying an additional 546 shares in the last quarter. Proficio Capital Partners LLC increased its holdings in Mastercard by 108.2% in the first quarter. Proficio Capital Partners LLC now owns 893 shares of the credit services provider’s stock valued at $108,000 after buying an additional 464 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in Mastercard in the second quarter valued at $121,000. 75.81% of the stock is owned by hedge funds and other institutional investors.
Mastercard Incorporated (NYSE:MA) traded up $1.62 on Wednesday, reaching $152.50. 3,360,200 shares of the company were exchanged, compared to its average volume of 3,219,118. The firm has a market capitalization of $159,730.92, a price-to-earnings ratio of 35.01, a PEG ratio of 2.01 and a beta of 1.20. Mastercard Incorporated has a 52-week low of $102.91 and a 52-week high of $154.65. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.83.
Mastercard declared that its board has authorized a share repurchase program on Monday, December 4th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the credit services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
The firm 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. The ex-dividend date is Monday, January 8th. This is a positive change from Mastercard’s previous quarterly dividend of $0.22. This represents a $1.00 dividend on an annualized basis and a yield of 0.66%. Mastercard’s payout ratio is presently 20.47%.
In related news, insider Michael Fraccaro sold 5,800 shares of the business’s stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $147.59, for a total transaction of $856,022.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Craig Vosburg sold 14,200 shares of the business’s 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 transaction, the insider now owns 40,646 shares in the company, valued at $5,766,041.56. The disclosure for this sale can be found here. Insiders have sold 25,000 shares of company stock worth $3,582,984 over the last 90 days. 0.30% of the stock is currently owned by company insiders.
A number of research analysts have weighed in on MA shares. Oppenheimer reaffirmed a “buy” rating and issued a $145.00 price objective on shares of Mastercard in a report on Friday, September 8th. Citigroup lifted their price objective on shares of Mastercard from $157.00 to $167.00 and gave the company a “buy” rating in a report on Wednesday, October 18th. Nomura lifted their price objective on shares of Mastercard from $153.00 to $163.00 and gave the company a “buy” rating in a report on Friday, September 8th. Zacks Investment Research cut shares of Mastercard from a “buy” rating to a “hold” rating in a report on Wednesday, November 8th. Finally, Susquehanna Bancshares reaffirmed a “positive” rating and issued a $158.00 price objective (up previously from $149.00) on shares of Mastercard in a report on Friday, September 8th. Two investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price 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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