Wesbanco Bank Inc. trimmed its holdings in shares of Mastercard Incorporated (NYSE:MA) by 2.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 164,166 shares of the credit services provider’s stock after selling 4,797 shares during the period. Mastercard comprises 1.2% of Wesbanco Bank Inc.’s investment portfolio, making the stock its 16th biggest holding. Wesbanco Bank Inc.’s holdings in Mastercard were worth $23,180,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MA. Vanguard Group Inc. boosted its holdings in Mastercard by 2.3% in the second quarter. Vanguard Group Inc. now owns 65,297,307 shares of the credit services provider’s stock valued at $7,930,357,000 after acquiring an additional 1,490,267 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Mastercard by 784.3% during the second quarter. Janus Henderson Group PLC now owns 16,870,229 shares of the credit services provider’s stock worth $2,048,899,000 after acquiring an additional 14,962,583 shares during the last quarter. Capital Research Global Investors increased its position in shares of Mastercard by 15.8% during the second quarter. Capital Research Global Investors now owns 12,685,589 shares of the credit services provider’s stock worth $1,540,665,000 after acquiring an additional 1,729,179 shares during the last quarter. Capital World Investors increased its position in shares of Mastercard by 2.3% during the second quarter. Capital World Investors now owns 12,675,652 shares of the credit services provider’s stock worth $1,539,458,000 after acquiring an additional 289,488 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in shares of Mastercard by 6.0% during the second quarter. UBS Asset Management Americas Inc. now owns 6,174,892 shares of the credit services provider’s stock worth $749,941,000 after acquiring an additional 347,768 shares during the last quarter. 75.57% of the stock is owned by hedge funds and other institutional investors.
Shares of Mastercard Incorporated (NYSE MA) opened at $151.36 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.66 and a quick ratio of 1.66. Mastercard Incorporated has a 52 week low of $102.98 and a 52 week high of $154.65. The stock has a market cap of $160,240.00, a price-to-earnings ratio of 35.28, a price-to-earnings-growth ratio of 2.01 and a beta of 1.21.
Mastercard declared that its board has initiated a share buyback program on Monday, December 4th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the credit services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Tuesday, January 9th will be issued a dividend of $0.25 per share. This is an increase from Mastercard’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Monday, January 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.66%. Mastercard’s payout ratio is presently 20.51%.
In other Mastercard 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 value of $856,022.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard Haythornthwaite sold 5,000 shares of the business’s stock in a transaction dated 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 directly owns 45,278 shares of the company’s stock, valued at approximately $6,452,567.78. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.
Several analysts recently weighed in on MA shares. Oppenheimer reissued a “buy” rating and issued a $145.00 price objective on shares of Mastercard in a report on Friday, September 8th. Citigroup lifted their target price on Mastercard from $157.00 to $167.00 and gave the company a “buy” rating in a research note on Wednesday, October 18th. Nomura boosted their price objective on Mastercard from $153.00 to $163.00 and gave the stock a “buy” rating in a research report on Friday, September 8th. Zacks Investment Research downgraded Mastercard from a “buy” rating to a “hold” rating in a research report on Wednesday, November 8th. Finally, Susquehanna Bancshares restated a “positive” rating and issued a $158.00 target price (up from $149.00) on shares of Mastercard in a research report on Friday, September 8th. Three investment analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $159.59.
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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