Condor Capital Management lessened its stake in Mastercard Incorporated (NYSE:MA) by 1.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,715 shares of the credit services provider’s stock after selling 341 shares during the quarter. Condor Capital Management’s holdings in Mastercard were worth $2,925,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently bought and sold shares of MA. Vestor Capital LLC raised its position in Mastercard by 2.3% in the 3rd quarter. Vestor Capital LLC now owns 38,352 shares of the credit services provider’s stock worth $5,415,000 after buying an additional 867 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its position in Mastercard by 56.8% in the 3rd quarter. Bronfman E.L. Rothschild L.P. now owns 30,663 shares of the credit services provider’s stock worth $4,330,000 after buying an additional 11,107 shares during the last quarter. Norinchukin Bank The raised its position in Mastercard by 3.1% in the 3rd quarter. Norinchukin Bank The now owns 116,896 shares of the credit services provider’s stock worth $16,506,000 after buying an additional 3,547 shares during the last quarter. ING Groep NV raised its position in Mastercard by 85.9% in the 3rd quarter. ING Groep NV now owns 473,702 shares of the credit services provider’s stock worth $66,887,000 after buying an additional 218,915 shares during the last quarter. Finally, D.A. Davidson & CO. raised its position in Mastercard by 4.7% in the 3rd quarter. D.A. Davidson & CO. now owns 60,615 shares of the credit services provider’s stock worth $8,558,000 after buying an additional 2,694 shares during the last quarter. 75.58% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on the company. Barclays reissued a “buy” rating and issued a $170.00 target price on shares of Mastercard in a research report on Friday, January 5th. Sanford C. Bernstein reissued a “buy” rating and issued a $180.00 target price (up previously from $166.00) on shares of Mastercard in a research report on Monday, December 11th. Mizuho reissued a “hold” rating and issued a $140.00 target price on shares of Mastercard in a research report on Thursday, October 12th. Zacks Investment Research raised Mastercard from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research report on Tuesday, January 2nd. Finally, Buckingham Research assumed coverage on Mastercard in a research report on Monday, October 2nd. They issued a “buy” rating and a $163.00 target price for the company. Three investment analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the stock. Mastercard currently has an average rating of “Buy” and an average price target of $161.82.
Mastercard (NYSE:MA) last announced its quarterly earnings data on Tuesday, October 31st. The credit services provider reported $1.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.23 by $0.11. The company had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.28 billion. Mastercard had a return on equity of 78.38% and a net margin of 38.70%. The firm’s revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.08 EPS. equities research analysts anticipate that Mastercard Incorporated will post 4.54 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Tuesday, January 9th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, January 8th. This is an increase from Mastercard’s previous quarterly dividend of $0.22. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.62%. Mastercard’s payout ratio is 23.31%.
Mastercard declared that its Board of Directors has initiated a share buyback 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 often an indication that the company’s management believes its stock is undervalued.
In related news, insider Edward Grunde Mclaughlin sold 17,167 shares of the business’s 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 approximately $7,271,850.81. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.30% of the company’s stock.
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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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