Sowell Financial Services LLC purchased a new position in shares of Mastercard Inc (NYSE:MA) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 938 shares of the credit services provider’s stock, valued at approximately $209,000.
Other hedge funds also recently added to or reduced their stakes in the company. Baker Ellis Asset Management LLC acquired a new position in Mastercard in the third quarter worth $104,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in Mastercard in the second quarter worth $109,000. Fort L.P. acquired a new position in Mastercard in the second quarter worth $120,000. Point72 Hong Kong Ltd acquired a new position in Mastercard in the second quarter worth $131,000. Finally, Bogart Wealth LLC boosted its holdings in Mastercard by 434.7% in the third quarter. Bogart Wealth LLC now owns 663 shares of the credit services provider’s stock worth $148,000 after purchasing an additional 539 shares during the period. 74.84% of the stock is owned by institutional investors and hedge funds.
In related news, Director Richard K. Davis acquired 2,475 shares of the business’s stock in a transaction that occurred on Friday, November 2nd. The shares were acquired at an average cost of $196.37 per share, for a total transaction of $486,015.75. Following the completion of the purchase, the director now directly owns 3,468 shares in the company, valued at $681,011.16. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.32% of the company’s stock.
Mastercard (NYSE:MA) last posted its earnings results on Tuesday, October 30th. The credit services provider reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. The company had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $3.86 billion. Mastercard had a return on equity of 114.58% and a net margin of 35.88%. The firm’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period last year, the business posted $1.34 earnings per share. As a group, analysts predict that Mastercard Inc will post 6.43 EPS for the current year.
Mastercard announced that its Board of Directors has authorized a share repurchase plan on Tuesday, December 4th that authorizes the company to buyback $6.50 million in outstanding shares. This buyback authorization authorizes the credit services provider to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 8th. Shareholders of record on Wednesday, January 9th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 0.67%. This is a boost from Mastercard’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, January 8th. Mastercard’s dividend payout ratio (DPR) is presently 21.83%.
A number of research firms have commented on MA. Royal Bank of Canada lifted their price objective on shares of Mastercard from $223.00 to $232.00 and gave the stock an “outperform” rating in a report on Tuesday, September 11th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Mastercard from a “buy” rating to a “hold” rating in a report on Friday. Wells Fargo & Co lifted their price objective on shares of Mastercard from $230.00 to $250.00 and gave the stock an “outperform” rating in a report on Monday, October 1st. BMO Capital Markets lifted their price objective on shares of Mastercard from $238.00 to $248.00 and gave the stock an “outperform” rating in a report on Thursday, November 1st. Finally, Credit Suisse Group lifted their price objective on shares of Mastercard from $210.00 to $224.00 and gave the stock an “outperform” rating in a report on Monday, October 8th. Three analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $221.28.
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Mastercard Company Profile
Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers related products and services.
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