Livforsakringsbolaget Skandia Omsesidigt reduced its stake in Mastercard Incorporated (NYSE:MA) by 21.8% in the 4th quarter, Holdings Channel reports. The firm owned 14,325 shares of the credit services provider’s stock after selling 4,000 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Mastercard were worth $2,168,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently made changes to their positions in MA. Boys Arnold & Co. Inc. raised its position in Mastercard by 7.8% during the 2nd quarter. Boys Arnold & Co. Inc. now owns 5,006 shares of the credit services provider’s stock worth $608,000 after buying an additional 363 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new position in Mastercard during the 2nd quarter worth approximately $2,351,000. Baldwin Investment Management LLC raised its position in Mastercard by 5.9% during the 2nd quarter. Baldwin Investment Management LLC now owns 3,600 shares of the credit services provider’s stock worth $437,000 after buying an additional 200 shares during the last quarter. Captrust Financial Advisors purchased a new position in Mastercard during the 2nd quarter worth approximately $172,000. Finally, Royal Bank of Canada raised its position in Mastercard by 1.2% during the 2nd quarter. Royal Bank of Canada now owns 4,136,794 shares of the credit services provider’s stock worth $502,413,000 after buying an additional 50,050 shares during the last quarter. 75.79% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Edward Grunde Mclaughlin sold 17,167 shares of Mastercard stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $151.81, for a total value of $2,606,122.27. Following the sale, the insider now owns 47,901 shares of the company’s stock, valued at approximately $7,271,850.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.30% of the stock is currently owned by company insiders.
Mastercard (NYSE:MA) last released its quarterly earnings results on Thursday, February 1st. The credit services provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.02. Mastercard had a net margin of 31.33% and a return on equity of 83.57%. The firm had revenue of $3.31 billion for the quarter, compared to analysts’ expectations of $3.25 billion. During the same quarter last year, the company earned $0.86 EPS. The firm’s revenue for the quarter was up 20.2% compared to the same quarter last year. equities analysts expect that Mastercard Incorporated will post 5.88 earnings per share for the current fiscal year.
Mastercard announced that its Board of Directors has initiated a stock 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 reacquire shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 9th. Investors of record on Monday, April 9th will be paid a $0.25 dividend. The ex-dividend date is Friday, April 6th. This represents a $1.00 dividend on an annualized basis and a yield of 0.61%. Mastercard’s dividend payout ratio is currently 27.40%.
Several equities analysts have recently weighed in on the stock. Piper Jaffray Companies lifted their target price on shares of Mastercard from $208.00 to $212.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Morgan Stanley lifted their target price on shares of Mastercard from $178.00 to $192.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Barclays lifted their target price on shares of Mastercard from $178.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Cantor Fitzgerald lifted their target price on shares of Mastercard to $198.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Finally, Guggenheim reaffirmed a “buy” rating and set a $201.00 target price on shares of Mastercard in a report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirty-one have given a buy rating to the company. Mastercard presently has an average rating of “Buy” and a consensus target price of $176.64.
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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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