Cobiz Wealth LLC cut its stake in Mastercard Incorporated (NYSE:MA) by 0.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 65,391 shares of the credit services provider’s stock after selling 330 shares during the period. Mastercard comprises approximately 2.1% of Cobiz Wealth LLC’s portfolio, making the stock its 9th largest position. Cobiz Wealth LLC’s holdings in Mastercard were worth $9,898,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Massey Quick Simon & CO. LLC purchased a new stake in shares of Mastercard in the third quarter valued at about $102,000. Wealthcare Advisory Partners LLC purchased a new stake in shares of Mastercard in the third quarter valued at about $106,000. Thompson Davis & CO. Inc. raised its holdings in shares of 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 buying an additional 546 shares during the last quarter. Horan Capital Advisors LLC. purchased a new stake in shares of Mastercard in the third quarter valued at about $131,000. Finally, Acrospire Investment Management LLC purchased a new stake in shares of Mastercard in the second quarter valued at about $121,000. 75.66% of the stock is owned by hedge funds and other institutional investors.
Mastercard Incorporated (NYSE MA) opened at $170.12 on Wednesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.66 and a current ratio of 1.57. The stock has a market cap of $177,272.27, a P/E ratio of 36.64, a P/E/G ratio of 1.56 and a beta of 1.26. Mastercard Incorporated has a one year low of $107.76 and a one year high of $177.11.
Mastercard (NYSE:MA) last announced its quarterly earnings data on Thursday, February 1st. The credit services provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.02. The business had revenue of $3.31 billion for the quarter, compared to the consensus estimate of $3.25 billion. Mastercard had a net margin of 31.33% and a return on equity of 83.57%. The company’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.86 earnings per share. research analysts forecast that Mastercard Incorporated will post 5.88 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 9th. Shareholders of record on Monday, April 9th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend is Friday, April 6th. Mastercard’s dividend payout ratio is currently 27.40%.
Mastercard declared that its board has authorized a share buyback program 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 buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
A number of equities research analysts have recently commented on MA shares. KeyCorp reaffirmed a “buy” rating and issued a $165.00 target price on shares of Mastercard in a report on Wednesday, October 18th. Royal Bank of Canada cut shares of Mastercard from a “top pick” rating to an “outperform” rating and set a $130.00 target price for the company. in a report on Thursday, January 4th. Guggenheim reaffirmed a “buy” rating and issued a $201.00 target price on shares of Mastercard in a report on Friday, February 2nd. BMO Capital Markets reiterated an “outperform” rating and set a $174.00 price target (up from $157.00) on shares of Mastercard in a research note on Wednesday, November 1st. Finally, Piper Jaffray Companies boosted their price target on shares of Mastercard from $208.00 to $212.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and thirty-one have assigned a buy rating to the company. Mastercard has a consensus rating of “Buy” and a consensus target price of $176.64.
In other Mastercard news, insider Edward Grunde Mclaughlin sold 17,167 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $151.81, for a total transaction of $2,606,122.27. Following the transaction, the insider now owns 47,901 shares of the company’s stock, valued at $7,271,850.81. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.30% of the company’s stock.
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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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