Hobbs Wealth Management LLC Invests $274,000 in Mastercard Incorporated (NYSE:MA)

Hobbs Wealth Management LLC purchased a new stake in shares of Mastercard Incorporated (NYSE:MA) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 521 shares of the credit services provider’s stock, valued at approximately $274,000.

Several other institutional investors have also recently made changes to their positions in MA. NewSquare Capital LLC acquired a new stake in Mastercard in the 4th quarter worth about $26,000. Halbert Hargrove Global Advisors LLC purchased a new position in Mastercard in the 4th quarter worth approximately $32,000. Marshall Investment Management LLC acquired a new position in Mastercard during the fourth quarter worth $30,000. Truvestments Capital LLC increased its stake in shares of Mastercard by 62.5% in the 4th quarter. Truvestments Capital LLC now owns 65 shares of the credit services provider’s stock worth $34,000 after acquiring an additional 25 shares during the last quarter. Finally, FPC Investment Advisory Inc. raised its stake in Mastercard by 483.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 70 shares of the credit services provider’s stock worth $39,000 after purchasing an additional 58 shares during the period. 97.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Mastercard

In related news, CEO Michael Miebach sold 15,775 shares of Mastercard stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $550.16, for a total transaction 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Edward Grunde Mclaughlin sold 7,132 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $534.68, for a total value of $3,813,337.76. Following the completion of the sale, the insider now directly owns 34,524 shares in the company, 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. 0.10% of the stock is owned by insiders.

Mastercard Trading Down 3.0 %

Shares of MA stock opened at $499.96 on Friday. Mastercard Incorporated has a twelve month low of $428.86 and a twelve month high of $582.23. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.68. The business’s 50 day moving average is $543.80 and its two-hundred day moving average is $528.13. The company has a market capitalization of $455.81 billion, a P/E ratio of 35.99, a price-to-earnings-growth ratio of 2.37 and a beta of 1.06.

Mastercard (NYSE:MA) last posted 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 net margin of 45.71% and a return on equity of 188.47%. Equities analysts forecast that Mastercard Incorporated will post 15.91 EPS for the current year.

Mastercard declared that its Board of Directors has initiated a stock buyback 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 purchase up to 2.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Mastercard Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors 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 0.61%. Mastercard’s dividend payout ratio is currently 21.89%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on MA shares. Raymond James reissued an “outperform” rating and set a $640.00 target price (up previously from $614.00) on shares of Mastercard in a research note on Friday, January 31st. Royal Bank of Canada lifted their price objective on Mastercard from $572.00 to $650.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Monness Crespi & Hardt lowered shares of Mastercard from a “buy” rating to a “neutral” rating in a research note on Wednesday. The Goldman Sachs Group reaffirmed a “buy” rating and set a $633.00 price objective on shares of Mastercard in a research report on Wednesday, April 2nd. Finally, Macquarie lifted their price target on shares of Mastercard from $565.00 to $645.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Six investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Mastercard currently has a consensus rating of “Moderate Buy” and an average 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.