Mastercard Incorporated (NYSE:MA) is Icon Advisers Inc. Co.’s 10th Largest Position

Icon Advisers Inc. Co. cut its holdings in Mastercard Incorporated (NYSE:MA) by 10.1% during the 4th quarter, Holdings Channel reports. The fund owned 11,965 shares of the credit services provider’s stock after selling 1,350 shares during the period. Mastercard comprises 1.4% of Icon Advisers Inc. Co.’s portfolio, making the stock its 10th biggest holding. Icon Advisers Inc. Co.’s holdings in Mastercard were worth $6,300,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Mastercard by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 77,179,138 shares of the credit services provider’s stock valued at $40,640,219,000 after buying an additional 377,302 shares in the last quarter. FMR LLC boosted its stake in Mastercard by 4.3% during the fourth quarter. FMR LLC now owns 22,267,937 shares of the credit services provider’s stock valued at $11,725,627,000 after buying an additional 912,856 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Mastercard by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 18,657,792 shares of the credit services provider’s stock valued at $9,800,202,000 after purchasing an additional 282,739 shares in the last quarter. Norges Bank purchased a new position in shares of Mastercard in the 4th quarter worth $6,022,224,000. Finally, Wellington Management Group LLP grew its position in Mastercard by 9.1% in the fourth quarter. Wellington Management Group LLP now owns 9,760,740 shares of the credit services provider’s stock worth $5,139,713,000 after acquiring an additional 817,836 shares in the last quarter. 97.28% of the stock is currently owned by hedge funds and other institutional investors.

Mastercard Trading Up 2.1 %

Shares of NYSE:MA opened at $509.66 on Monday. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market capitalization of $464.66 billion, a price-to-earnings ratio of 36.69, a price-to-earnings-growth ratio of 2.37 and a beta of 1.06. Mastercard Incorporated has a 1 year low of $428.86 and a 1 year high of $582.23. The business’s 50 day moving average price is $542.81 and its 200-day moving average price is $528.53.

Mastercard (NYSE:MA) last announced its quarterly earnings data on Thursday, January 30th. The credit services provider reported $3.82 earnings per share for the quarter, beating analysts’ consensus estimates of $3.71 by $0.11. Mastercard had a return on equity of 188.47% and a net margin of 45.71%. On average, equities research analysts forecast that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard announced that its board has authorized a share buyback plan on Tuesday, December 17th that allows the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization allows the credit services provider to purchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Mastercard Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Wednesday, April 9th will be issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date is Wednesday, April 9th. Mastercard’s dividend payout ratio is currently 21.89%.

Insider Transactions at Mastercard

In other Mastercard news, CEO Michael Miebach sold 15,775 shares of Mastercard stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $550.16, for a total value of $8,678,774.00. Following the completion of the transaction, the chief executive officer now directly owns 84,871 shares of the company’s stock, valued at $46,692,629.36. The trade was a 15.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Edward Grunde Mclaughlin sold 7,132 shares of Mastercard stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $534.68, for a total transaction of $3,813,337.76. Following the completion of the transaction, the insider now owns 34,524 shares of the company’s stock, valued at $18,459,292.32. This trade represents a 17.12 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. DZ Bank upgraded shares of Mastercard from a “hold” rating to a “buy” rating and set a $620.00 price objective on the stock in a research report on Tuesday, February 4th. The Goldman Sachs Group reiterated a “buy” rating and issued a $633.00 target price on shares of Mastercard in a report on Wednesday, April 2nd. Macquarie increased their price objective on shares of Mastercard from $565.00 to $645.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Evercore ISI assumed coverage on Mastercard in a research note on Wednesday, April 9th. They issued an “in-line” rating and a $550.00 target price on the stock. Finally, Morgan Stanley reduced their price target on Mastercard from $654.00 to $644.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Six investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Mastercard has an average rating of “Moderate Buy” and a consensus target price of $607.96.

Mastercard Company Profile

Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. The company offers integrated products and value-added services for account holders, merchants, financial institutions, digital partners, businesses, governments, and other organizations, such as programs that enable issuers to provide consumers with credits to defer payments; payment products and solutions that allow its customers to access funds in deposit and other accounts; prepaid programs services; and commercial credit, debit, and prepaid payment products and solutions.