Moors & Cabot Inc. Grows Stock Holdings in Mastercard Incorporated (NYSE:MA)

Moors & Cabot Inc. raised its position in Mastercard Incorporated (NYSE:MA) by 280.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,000 shares of the credit services provider’s stock after acquiring an additional 27,263 shares during the quarter. Moors & Cabot Inc.’s holdings in Mastercard were worth $38,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. OLD Mission Capital LLC purchased a new position in shares of Mastercard during the third quarter valued at about $237,000. Meitav Dash Investments Ltd. increased its position in shares of Mastercard by 13.8% during the second quarter. Meitav Dash Investments Ltd. now owns 122,963 shares of the credit services provider’s stock valued at $44,909,000 after buying an additional 14,944 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Mastercard by 18.8% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 755,140 shares of the credit services provider’s stock valued at $275,694,000 after buying an additional 119,452 shares during the period. Resources Management Corp CT ADV increased its position in shares of Mastercard by 26.5% during the second quarter. Resources Management Corp CT ADV now owns 2,270 shares of the credit services provider’s stock valued at $829,000 after buying an additional 476 shares during the period. Finally, AGF Investments Inc. increased its position in shares of Mastercard by 84.9% during the second quarter. AGF Investments Inc. now owns 10,205 shares of the credit services provider’s stock valued at $3,726,000 after buying an additional 4,685 shares during the period. Hedge funds and other institutional investors own 73.32% of the company’s stock.

Shares of Mastercard stock opened at $372.14 on Friday. The company has a market cap of $365.65 billion, a price-to-earnings ratio of 45.77, a price-to-earnings-growth ratio of 1.69 and a beta of 1.15. The company’s 50 day moving average is $350.03 and its 200 day moving average is $355.93. Mastercard Incorporated has a twelve month low of $306.00 and a twelve month high of $401.50. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 1.95.

Mastercard (NYSE:MA) last announced its earnings results on Thursday, October 28th. The credit services provider reported $2.37 EPS for the quarter, beating the Zacks’ consensus estimate of $2.19 by $0.18. Mastercard had a net margin of 45.50% and a return on equity of 116.88%. The business had revenue of $4.99 billion during the quarter, compared to analysts’ expectations of $4.95 billion. During the same period in the prior year, the company earned $1.60 earnings per share. The firm’s revenue was up 29.9% on a year-over-year basis. Sell-side analysts expect that Mastercard Incorporated will post 8.27 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 9th. Shareholders of record on Friday, January 7th will be issued a dividend of $0.49 per share. This is a boost from Mastercard’s previous quarterly dividend of $0.44. This represents a $1.96 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date is Thursday, January 6th. Mastercard’s dividend payout ratio is currently 24.11%.

Mastercard announced that its Board of Directors has initiated a share buyback program on Tuesday, November 30th that permits the company to repurchase $8.00 billion in shares. This repurchase authorization permits the credit services provider to repurchase up to 2.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Several equities research analysts recently commented on the stock. Morgan Stanley dropped their price objective on shares of Mastercard from $451.00 to $448.00 and set an “overweight” rating on the stock in a research note on Friday, October 29th. UBS Group assumed coverage on shares of Mastercard in a research note on Thursday, November 18th. They set a “buy” rating and a $448.00 price objective on the stock. Mizuho dropped their price objective on shares of Mastercard from $465.00 to $400.00 and set a “buy” rating on the stock in a research note on Friday, January 7th. Wells Fargo & Company boosted their price objective on shares of Mastercard from $400.00 to $430.00 and gave the stock an “overweight” rating in a research note on Thursday, November 11th. Finally, Royal Bank of Canada dropped their price objective on shares of Mastercard from $412.00 to $403.00 and set an “outperform” rating on the stock in a research note on Friday, October 29th. Two research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $426.63.

In other news, CEO Michael Miebach sold 10,670 shares of the stock in a transaction on Monday, November 15th. The shares were sold at an average price of $370.00, for a total value of $3,947,900.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Foundation Mastercard sold 90,994 shares of the stock in a transaction on Wednesday, November 17th. The stock was sold at an average price of $354.40, for a total transaction of $32,248,273.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 647,628 shares of company stock valued at $214,977,545. 0.33% of the stock is owned by corporate insiders.

Mastercard Company Profile

Mastercard, Inc operates as a technology company. The firm engages in the payments industry that connects consumers, financial institutions, merchants, governments and business. It offers payment solutions for the development and implementation of credit, debit, prepaid, commercial and payment programs.

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Institutional Ownership by Quarter for Mastercard (NYSE:MA)

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