California Public Employees Retirement System raised its position in Mastercard Incorporated (NYSE:MA) by 4.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,327,427 shares of the credit services provider’s stock after purchasing an additional 101,727 shares during the period. California Public Employees Retirement System owned approximately 0.22% of Mastercard worth $328,633,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of MA. Massey Quick Simon & CO. LLC acquired a new position in Mastercard during the third quarter worth $102,000. Thompson Davis & CO. Inc. lifted its stake in Mastercard by 170.1% in the second quarter. Thompson Davis & CO. Inc. now owns 867 shares of the credit services provider’s stock valued at $105,000 after acquiring an additional 546 shares during the last quarter. Proficio Capital Partners LLC lifted its stake in Mastercard by 1.3% in 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. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Mastercard in the second quarter valued at $121,000. Finally, Acrospire Investment Management LLC acquired a new stake in Mastercard in the second quarter valued at $121,000. 75.66% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have commented on MA shares. Nomura increased their price target on shares of Mastercard from $163.00 to $164.00 and gave the company a “buy” rating in a research note on Wednesday, November 1st. SunTrust Banks increased their price target on shares of Mastercard to $180.00 and gave the company a “buy” rating in a research note on Wednesday, November 1st. Loop Capital increased their price objective on shares of Mastercard to $167.00 and gave the company a “buy” rating in a research report on Wednesday, November 1st. They noted that the move was a valuation call. Cantor Fitzgerald reissued a “buy” rating and issued a $165.00 price objective on shares of Mastercard in a research report on Tuesday, October 31st. Finally, Sanford C. Bernstein reissued a “buy” rating and issued a $166.00 price objective (up from $145.00) on shares of Mastercard in a research report on Monday, October 30th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirty-one have given a buy rating to the stock. Mastercard currently has a consensus rating of “Buy” and an average price target of $176.64.
Mastercard (NYSE:MA) last posted its earnings results on Thursday, February 1st. The credit services provider reported $1.14 EPS for the quarter, topping the consensus estimate of $1.12 by $0.02. Mastercard had a net margin of 31.33% and a return on equity of 83.57%. The business had revenue of $3.31 billion for the quarter, compared to the consensus estimate of $3.25 billion. During the same period last year, the company earned $0.86 EPS. The firm’s revenue was up 20.2% compared to the same quarter last year. analysts predict that Mastercard Incorporated will post 5.88 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 9th. Shareholders of record on Monday, April 9th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, April 6th. This represents a $1.00 annualized dividend and a yield of 0.58%. Mastercard’s payout ratio is 27.40%.
Mastercard announced that its board has authorized a stock repurchase 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 generally a sign that the company’s leadership believes its stock is undervalued.
In other 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 completion of the sale, the insider now owns 47,901 shares in the company, valued at approximately $7,271,850.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.30% of the stock is currently owned by company insiders.
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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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