Parnassus Investments CA lifted its position in shares of Mastercard Incorporated (NYSE:MA) by 0.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,193,492 shares of the credit services provider’s stock after purchasing an additional 1,879 shares during the period. Mastercard accounts for approximately 1.8% of Parnassus Investments CA’s portfolio, making the stock its 21st largest position. Parnassus Investments CA owned 0.30% of Mastercard worth $450,921,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Thompson Davis & CO. Inc. boosted its holdings in shares of Mastercard by 170.1% during the second quarter. Thompson Davis & CO. Inc. now owns 867 shares of the credit services provider’s stock worth $105,000 after purchasing an additional 546 shares during the period. Proficio Capital Partners LLC raised its stake in Mastercard by 1.3% in the second quarter. Proficio Capital Partners LLC now owns 905 shares of the credit services provider’s stock worth $118,000 after buying an additional 12 shares in the last quarter. Chicago Partners Investment Group LLC raised its stake 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 worth $105,000 after buying an additional 874 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in Mastercard in the second quarter worth about $121,000. Finally, Acrospire Investment Management LLC bought a new position in Mastercard in the second quarter worth about $121,000. Institutional investors own 75.57% of the company’s stock.
A number of equities analysts recently issued reports on MA shares. Wedbush reissued a “buy” rating and issued a $140.00 price target (up from $129.00) on shares of Mastercard in a research note on Wednesday, September 6th. Susquehanna Bancshares reissued a “positive” rating and issued a $158.00 price target (up from $149.00) on shares of Mastercard in a research note on Friday, September 8th. Barclays increased their price target on shares of Mastercard from $142.00 to $148.00 and gave the stock an “overweight” rating in a research note on Friday, September 8th. Citigroup increased their price target on shares of Mastercard from $157.00 to $167.00 and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Finally, Instinet reissued a “buy” rating and issued a $163.00 price target (up from $153.00) on shares of Mastercard in a research note on Saturday, September 9th. Three investment analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $159.59.
Mastercard (NYSE:MA) last announced its earnings results on Tuesday, October 31st. The credit services provider reported $1.34 earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.28 billion. During the same quarter last year, the firm earned $1.08 earnings per share. The business’s revenue for the quarter was up 18.1% on a year-over-year basis. equities research analysts expect that Mastercard Incorporated will post 4.54 EPS for the current fiscal year.
The firm also recently announced 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. This is an increase from Mastercard’s previous quarterly dividend of $0.22. The ex-dividend date is Monday, January 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.66%. Mastercard’s dividend payout ratio (DPR) is currently 20.51%.
Mastercard announced that its Board of Directors has authorized a stock buyback plan on Monday, December 4th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the credit services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.
In related news, Director Richard Haythornthwaite sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $142.51, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael Fraccaro sold 5,800 shares of the firm’s stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $147.59, for a total transaction of $856,022.00. The disclosure for this sale can be found here. 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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