Covestor Ltd Boosts Stake in Mastercard Incorporated (NYSE:MA)

Covestor Ltd raised its stake in shares of Mastercard Incorporated (NYSE:MA) by 9.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,298 shares of the credit services provider’s stock after purchasing an additional 113 shares during the period. Mastercard accounts for about 0.4% of Covestor Ltd’s portfolio, making the stock its 19th biggest position. Covestor Ltd’s holdings in Mastercard were worth $683,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Argent Trust Co boosted its holdings in shares of Mastercard by 0.4% during the 4th quarter. Argent Trust Co now owns 27,672 shares of the credit services provider’s stock worth $14,571,000 after purchasing an additional 107 shares during the last quarter. Zuckerman Investment Group LLC boosted its position in Mastercard by 10.5% during the fourth quarter. Zuckerman Investment Group LLC now owns 2,883 shares of the credit services provider’s stock worth $1,626,000 after acquiring an additional 274 shares during the last quarter. Blue Edge Capital LLC boosted its position in Mastercard by 1.3% during the fourth quarter. Blue Edge Capital LLC now owns 7,438 shares of the credit services provider’s stock worth $3,917,000 after acquiring an additional 99 shares during the last quarter. Scotia Capital Inc. raised its stake in shares of Mastercard by 2.5% in the 4th quarter. Scotia Capital Inc. now owns 169,029 shares of the credit services provider’s stock valued at $89,009,000 after acquiring an additional 4,139 shares during the period. Finally, TRUE Private Wealth Advisors raised its stake in shares of Mastercard by 5.3% in the 4th quarter. TRUE Private Wealth Advisors now owns 440 shares of the credit services provider’s stock valued at $232,000 after purchasing an additional 22 shares in the last quarter. Institutional investors own 97.28% of the company’s stock.

Mastercard Stock Performance

MA traded down $10.52 during trading on Thursday, hitting $504.91. 332,636 shares of the company traded hands, compared to its average volume of 2,590,334. The firm has a market cap of $460.33 billion, a P/E ratio of 36.35, a price-to-earnings-growth ratio of 2.37 and a beta of 1.06. The stock’s fifty day moving average is $545.10 and its 200 day moving average is $528.04. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.68. Mastercard Incorporated has a one year low of $428.86 and a one year high of $582.23.

Mastercard (NYSE:MA) last issued its earnings results on Thursday, January 30th. The credit services provider reported $3.82 EPS for the quarter, topping the consensus estimate of $3.71 by $0.11. Mastercard had a net margin of 45.71% and a return on equity of 188.47%. As a group, equities analysts predict that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

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

Mastercard Dividend Announcement

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

Insider Buying and Selling

In related news, insider Edward Grunde Mclaughlin sold 7,132 shares of Mastercard 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 completion of the sale, the insider now directly owns 34,524 shares of the company’s stock, valued at $18,459,292.32. The trade was a 17.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Miebach sold 15,775 shares of the business’s stock in a transaction dated Wednesday, March 26th. The shares were 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 approximately $46,692,629.36. The trade was a 15.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MA. JPMorgan Chase & Co. increased their price objective on shares of Mastercard from $590.00 to $610.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Susquehanna lifted their price objective on shares of Mastercard from $605.00 to $670.00 and gave the stock a “positive” rating in a research note on Friday, January 31st. Macquarie upped their price objective on shares of Mastercard from $565.00 to $645.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Wells Fargo & Company upped their price objective on Mastercard from $585.00 to $625.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Finally, DZ Bank upgraded Mastercard from a “hold” rating to a “buy” rating and set a $620.00 price objective on the stock in a research note on Tuesday, February 4th. Six research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $607.96.

Mastercard 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.