Gabelli Funds LLC decreased its position in Mastercard Incorporated (NYSE:MA) by 0.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 944,800 shares of the credit services provider’s stock after selling 1,000 shares during the period. Mastercard accounts for about 0.8% of Gabelli Funds LLC’s investment portfolio, making the stock its 7th biggest position. Gabelli Funds LLC owned approximately 0.09% of Mastercard worth $133,406,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Boys Arnold & Co. Inc. lifted its holdings in Mastercard by 7.8% during the second 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 period. OMERS ADMINISTRATION Corp purchased a new stake in shares of Mastercard during the 2nd quarter valued at $2,351,000. Baldwin Investment Management LLC lifted its holdings in shares of Mastercard by 5.9% during the 2nd quarter. Baldwin Investment Management LLC now owns 3,600 shares of the credit services provider’s stock valued at $437,000 after purchasing an additional 200 shares during the last quarter. IBM Retirement Fund lifted its holdings in shares of Mastercard by 68.8% during the 2nd quarter. IBM Retirement Fund now owns 23,051 shares of the credit services provider’s stock valued at $3,128,000 after purchasing an additional 9,397 shares during the last quarter. Finally, Oribel Capital Management LP purchased a new stake in shares of Mastercard during the 1st quarter valued at $5,849,000. Institutional investors own 75.57% of the company’s stock.
In related news, Director Richard Haythornthwaite sold 5,000 shares of Mastercard stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $142.51, for a total value of $712,550.00. Following the completion of the sale, the director now owns 45,278 shares in the company, valued at approximately $6,452,567.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Fraccaro sold 5,800 shares of Mastercard 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 (NYSE:MA) last announced its quarterly earnings results on Tuesday, October 31st. The credit services provider reported $1.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.23 by $0.11. The business had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.28 billion. Mastercard had a net margin of 38.70% and a return on equity of 78.38%. The business’s revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.08 EPS. research analysts forecast that Mastercard Incorporated will post 4.54 earnings per share for the current fiscal year.
Mastercard announced that its board has authorized a stock buyback plan on Monday, December 4th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the credit services provider to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board 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 $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Monday, January 8th. This is an increase from Mastercard’s previous quarterly dividend of $0.22. Mastercard’s dividend payout ratio (DPR) is 20.51%.
MA has been the subject of several analyst reports. Oppenheimer reiterated a “buy” rating and set a $145.00 price objective on shares of Mastercard in a report on Friday, September 8th. Citigroup increased their price objective on Mastercard from $157.00 to $167.00 and gave the company a “buy” rating in a report on Wednesday, October 18th. Nomura increased their price objective on Mastercard from $153.00 to $163.00 and gave the company a “buy” rating in a report on Friday, September 8th. Zacks Investment Research lowered Mastercard from a “buy” rating to a “hold” rating in a report on Wednesday, November 8th. Finally, Susquehanna Bancshares reiterated a “positive” rating and set a $158.00 price objective (up previously from $149.00) on shares of Mastercard in a report on Friday, September 8th. Three equities research analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company’s stock. Mastercard currently has a consensus rating of “Buy” and a consensus target price of $159.59.
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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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