CIBC Private Wealth Group LLC Has $348.52 Million Holdings in Mastercard Incorporated (NYSE:MA)

CIBC Private Wealth Group LLC trimmed its holdings in Mastercard Incorporated (NYSE:MA) by 3.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 674,905 shares of the credit services provider’s stock after selling 26,077 shares during the period. CIBC Private Wealth Group LLC’s holdings in Mastercard were worth $348,521,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. boosted its position in shares of Mastercard by 4.8% during the 3rd quarter. Principal Financial Group Inc. now owns 3,031,915 shares of the credit services provider’s stock worth $1,497,160,000 after acquiring an additional 138,842 shares in the last quarter. White Knight Strategic Wealth Advisors LLC boosted its holdings in shares of Mastercard by 16.9% in the 3rd quarter. White Knight Strategic Wealth Advisors LLC now owns 1,904 shares of the credit services provider’s stock valued at $940,000 after purchasing an additional 275 shares in the last quarter. Ironwood Investment Counsel LLC increased its stake in shares of Mastercard by 0.6% in the 3rd quarter. Ironwood Investment Counsel LLC now owns 18,112 shares of the credit services provider’s stock valued at $8,944,000 after purchasing an additional 100 shares during the last quarter. Kolinsky Wealth Management LLC raised its holdings in shares of Mastercard by 8.1% during the 3rd quarter. Kolinsky Wealth Management LLC now owns 1,834 shares of the credit services provider’s stock worth $905,000 after buying an additional 137 shares in the last quarter. Finally, L.M. Kohn & Company lifted its position in shares of Mastercard by 6.8% during the 3rd quarter. L.M. Kohn & Company now owns 10,120 shares of the credit services provider’s stock worth $4,997,000 after buying an additional 647 shares during the last quarter. 97.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on MA shares. KeyCorp lifted their target price on Mastercard from $600.00 to $630.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Royal Bank of Canada upped their price objective on shares of Mastercard from $572.00 to $650.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods raised their target price on shares of Mastercard from $618.00 to $665.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Raymond James reiterated an “outperform” rating and set a $640.00 price target (up from $614.00) on shares of Mastercard in a report on Friday, January 31st. Finally, Citigroup raised their price objective on Mastercard from $584.00 to $650.00 and gave the company a “buy” rating in a report on Friday, January 31st. Four research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $606.11.

Mastercard Stock Performance

Shares of Mastercard stock opened at $540.57 on Friday. The business has a 50-day simple moving average of $550.58 and a 200 day simple moving average of $526.92. Mastercard Incorporated has a one year low of $428.86 and a one year high of $582.23. 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 $492.84 billion, a price-to-earnings ratio of 38.92, a PEG ratio of 2.37 and a beta of 1.10.

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

Mastercard Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Wednesday, April 9th will be issued a dividend of $0.76 per share. The ex-dividend date is Wednesday, April 9th. This represents a $3.04 annualized dividend and a yield of 0.56%. Mastercard’s payout ratio is 21.89%.

Mastercard announced that its board has initiated a share repurchase program on Tuesday, December 17th that authorizes the company to buyback $12.00 billion in shares. This buyback authorization authorizes the credit services provider to reacquire up to 2.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Mastercard

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

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.