Mastercard Incorporated (NYSE:MA) Shares Sold by Washington Trust Bank

Washington Trust Bank decreased its position in Mastercard Incorporated (NYSE:MA) by 2.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,316 shares of the credit services provider’s stock after selling 1,015 shares during the quarter. Mastercard accounts for approximately 1.9% of Washington Trust Bank’s holdings, making the stock its 13th largest position. Washington Trust Bank’s holdings in Mastercard were worth $20,176,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Bank of Montreal Can lifted its holdings in shares of Mastercard by 51.7% in the 3rd quarter. Bank of Montreal Can now owns 5,765,714 shares of the credit services provider’s stock worth $2,846,187,000 after purchasing an additional 1,965,782 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Mastercard in the 4th quarter worth approximately $837,017,000. Proficio Capital Partners LLC lifted its holdings in shares of Mastercard by 79,739.7% in the 4th quarter. Proficio Capital Partners LLC now owns 1,555,277 shares of the credit services provider’s stock worth $818,962,000 after purchasing an additional 1,553,329 shares during the last quarter. FMR LLC lifted its holdings in shares of Mastercard by 3.4% in the 3rd quarter. FMR LLC now owns 21,355,081 shares of the credit services provider’s stock worth $10,545,139,000 after purchasing an additional 700,769 shares during the last quarter. Finally, Amundi lifted its holdings in shares of Mastercard by 13.1% in the 4th quarter. Amundi now owns 4,899,438 shares of the credit services provider’s stock worth $2,532,541,000 after purchasing an additional 565,717 shares during the last quarter. Institutional investors and hedge funds own 97.28% of the company’s stock.

Mastercard Price Performance

Shares of NYSE:MA opened at $535.14 on Friday. Mastercard Incorporated has a fifty-two week low of $428.86 and a fifty-two week high of $582.23. The business has a 50-day moving average of $547.55 and a two-hundred day moving average of $524.36. The stock has a market capitalization of $487.89 billion, a P/E ratio of 38.53, a P/E/G ratio of 2.37 and a beta of 1.10. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.03 and a quick ratio of 1.03.

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, topping 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, equities research analysts predict that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Mastercard Announces Dividend

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 issued a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 0.57%. The ex-dividend date is Wednesday, April 9th. Mastercard’s payout ratio is 21.89%.

Mastercard announced that its Board of Directors has authorized a stock buyback program on Tuesday, December 17th that permits the company to buyback $12.00 billion in outstanding shares. This buyback authorization permits the credit services provider to purchase up to 2.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

MA has been the topic of several recent research reports. KeyCorp raised their price target on Mastercard from $600.00 to $630.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Wells Fargo & Company raised their price target on Mastercard from $585.00 to $625.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Oppenheimer cut their target price on Mastercard from $591.00 to $588.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. Monness Crespi & Hardt raised Mastercard from a “neutral” rating to a “buy” rating and set a $640.00 target price on the stock in a research note on Friday, January 31st. Finally, DZ Bank raised Mastercard from a “hold” rating to a “buy” rating and set a $620.00 target price on the stock in a research note on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Mastercard presently has an average rating of “Moderate Buy” and an average target price of $606.11.

Insider Buying and Selling

In other Mastercard news, insider Edward Grunde Mclaughlin sold 7,132 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 34,524 shares of the company’s stock, valued at approximately $18,459,292.32. This represents a 17.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.10% of the stock is currently owned by corporate insiders.

About Mastercard

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.