Highland Capital Management LLC Trims Position in Mastercard Incorporated (NYSE:MA)

Highland Capital Management LLC cut its position in Mastercard Incorporated (NYSE:MA) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,187 shares of the credit services provider’s stock after selling 53 shares during the period. Highland Capital Management LLC’s holdings in Mastercard were worth $7,330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of MA. Bornite Capital Management LP purchased a new stake in shares of Mastercard in the first quarter worth $21,442,000. United Bank boosted its position in shares of Mastercard by 34.5% during the first quarter. United Bank now owns 6,007 shares of the credit services provider’s stock worth $2,147,000 after acquiring an additional 1,541 shares during the last quarter. Mackenzie Financial Corp boosted its position in shares of Mastercard by 30.1% during the first quarter. Mackenzie Financial Corp now owns 272,358 shares of the credit services provider’s stock worth $97,335,000 after acquiring an additional 63,040 shares during the last quarter. First Western Trust Bank bought a new position in shares of Mastercard during the first quarter worth $1,168,000. Finally, Bridgewater Associates LP bought a new position in shares of Mastercard during the first quarter worth $12,926,000. 97.28% of the stock is owned by hedge funds and other institutional investors.

Mastercard Price Performance

Mastercard stock opened at $477.95 on Thursday. The firm has a 50-day moving average price of $463.16 and a 200-day moving average price of $426.09. The firm has a market capitalization of $445.87 billion, a PE ratio of 40.40, a price-to-earnings-growth ratio of 1.81 and a beta of 1.08. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 2.06. Mastercard Incorporated has a 12-month low of $352.80 and a 12-month high of $490.00.

Mastercard (NYSE:MA) last posted its quarterly earnings results on Wednesday, January 31st. The credit services provider reported $3.18 EPS for the quarter, topping the consensus estimate of $3.08 by $0.10. The company had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.46 billion. Mastercard had a net margin of 44.60% and a return on equity of 191.22%. During the same quarter last year, the firm posted $2.65 EPS. As a group, equities research analysts forecast that Mastercard Incorporated will post 14.35 EPS for the current year.

Mastercard Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Tuesday, April 9th will be paid a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Monday, April 8th. Mastercard’s dividend payout ratio is presently 22.32%.

Mastercard declared that its board has approved a share repurchase plan on Tuesday, December 5th that allows the company to buyback $11.00 billion in outstanding shares. This buyback authorization allows the credit services provider to buy up to 2.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

MA has been the subject of a number of research reports. Oppenheimer restated an “outperform” rating and set a $510.00 target price on shares of Mastercard in a research report on Thursday, February 1st. Jefferies Financial Group upped their target price on shares of Mastercard from $425.00 to $480.00 and gave the stock a “buy” rating in a research report on Tuesday, December 12th. Royal Bank of Canada upped their target price on shares of Mastercard from $432.00 to $499.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. BMO Capital Markets increased their price objective on shares of Mastercard from $480.00 to $490.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Finally, The Goldman Sachs Group increased their price objective on shares of Mastercard from $433.00 to $482.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Two research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $479.62.

Insider Buying and Selling

In related news, major shareholder Foundation Mastercard sold 200 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $487.25, for a total value of $97,450.00. Following the transaction, the insider now owns 97,543,308 shares of the company’s stock, valued at approximately $47,527,976,823. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Mastercard news, insider Craig Vosburg sold 8,900 shares of the firm’s stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $430.26, for a total transaction of $3,829,314.00. Following the transaction, the insider now owns 46,491 shares of the company’s stock, valued at approximately $20,003,217.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Foundation Mastercard sold 200 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $487.25, for a total transaction of $97,450.00. Following the transaction, the insider now directly owns 97,543,308 shares in the company, valued at approximately $47,527,976,823. The disclosure for this sale can be found here. Insiders have sold 50,628 shares of company stock valued at $23,309,067 in the last 90 days. Company insiders own 0.13% 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.