Twin Capital Management Inc. raised its position in Mastercard Incorporated (NYSE:MA) by 79.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 37,820 shares of the credit services provider’s stock after purchasing an additional 16,760 shares during the period. Twin Capital Management Inc.’s holdings in Mastercard were worth $5,340,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of MA. Proficio Capital Partners LLC boosted its stake in shares of Mastercard by 1.3% during the second quarter. Proficio Capital Partners LLC now owns 905 shares of the credit services provider’s stock valued at $118,000 after acquiring an additional 12 shares during the last quarter. First Interstate Bank boosted its stake in shares of Mastercard by 1.4% during the second quarter. First Interstate Bank now owns 1,643 shares of the credit services provider’s stock valued at $200,000 after acquiring an additional 23 shares during the last quarter. Sullivan Bruyette Speros & Blaney LLC boosted its stake in shares of Mastercard by 1.8% during the second quarter. Sullivan Bruyette Speros & Blaney LLC now owns 2,427 shares of the credit services provider’s stock valued at $295,000 after acquiring an additional 44 shares during the last quarter. American Asset Management Inc. boosted its stake in shares of Mastercard by 2.4% during the second quarter. American Asset Management Inc. now owns 2,100 shares of the credit services provider’s stock valued at $255,000 after acquiring an additional 50 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. boosted its stake in shares of Mastercard by 1.2% during the second quarter. ZWJ Investment Counsel Inc. now owns 5,067 shares of the credit services provider’s stock valued at $615,000 after acquiring an additional 60 shares during the last quarter. 75.61% of the stock is currently owned by institutional investors.
A number of research firms recently commented on MA. Barclays reaffirmed a “buy” rating and set a $170.00 price objective on shares of Mastercard in a research note on Friday, January 5th. Sanford C. Bernstein reaffirmed a “buy” rating and set a $180.00 price objective (up previously from $166.00) on shares of Mastercard in a research note on Monday, December 11th. Mizuho reaffirmed a “hold” rating and set a $140.00 price objective on shares of Mastercard in a research note on Thursday, October 12th. Zacks Investment Research raised Mastercard from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research note on Tuesday, January 2nd. Finally, Buckingham Research began coverage on Mastercard in a research note on Monday, October 2nd. They set a “buy” rating and a $163.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-eight have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $162.22.
Mastercard (NYSE:MA) last released its quarterly earnings data on Tuesday, October 31st. The credit services provider reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. The company had revenue of $3.40 billion for 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 company’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period last year, the business posted $1.08 EPS. equities research analysts anticipate that Mastercard Incorporated will post 4.55 earnings per share for the current year.
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. This represents a $1.00 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend is Monday, January 8th. Mastercard’s dividend payout ratio (DPR) is presently 23.31%.
Mastercard announced that its Board of Directors has approved a stock repurchase plan on Monday, December 4th that authorizes the company to buyback $4.00 billion 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 generally an indication that the company’s board believes its stock is undervalued.
In related news, insider Edward Grunde Mclaughlin sold 17,167 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 47,901 shares in the company, valued at approximately $7,271,850.81. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.30% of the company’s stock.
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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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