Pacific Global Investment Management Co. Sells 10,320 Shares of Mastercard Incorporated (NYSE:MA)

Pacific Global Investment Management Co. decreased its position in Mastercard Incorporated (NYSE:MA) by 71.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,109 shares of the credit services provider’s stock after selling 10,320 shares during the quarter. Mastercard comprises 2.8% of Pacific Global Investment Management Co.’s holdings, making the stock its 11th largest position. Pacific Global Investment Management Co.’s holdings in Mastercard were worth $2,164,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Swedbank AB lifted its position in Mastercard by 14.8% in the third quarter. Swedbank AB now owns 1,874,568 shares of the credit services provider’s stock valued at $925,662,000 after purchasing an additional 241,297 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its position in Mastercard by 20.5% in the third quarter. Creative Financial Designs Inc. ADV now owns 511 shares of the credit services provider’s stock valued at $252,000 after purchasing an additional 87 shares during the last quarter. Lowe Brockenbrough & Co. Inc. lifted its position in Mastercard by 21.6% in the third quarter. Lowe Brockenbrough & Co. Inc. now owns 1,097 shares of the credit services provider’s stock valued at $542,000 after purchasing an additional 195 shares during the last quarter. Greenwich Wealth Management LLC bought a new stake in Mastercard in the third quarter valued at approximately $224,000. Finally, Princeton Global Asset Management LLC lifted its position in Mastercard by 422.7% in the third quarter. Princeton Global Asset Management LLC now owns 230 shares of the credit services provider’s stock valued at $114,000 after purchasing an additional 186 shares during the last quarter. Institutional investors own 97.28% of the company’s stock.

Mastercard Stock Up 2.0 %

NYSE MA opened at $576.08 on Monday. The stock’s 50-day moving average price is $542.83 and its 200-day moving average price is $518.02. 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 52 week low of $428.86 and a 52 week high of $576.94. The company has a market capitalization of $525.22 billion, a P/E ratio of 41.47, a price-to-earnings-growth ratio of 2.37 and a beta of 1.10.

Mastercard (NYSE:MA) last posted its quarterly earnings data 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 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 earnings per share for the current year.

Mastercard announced that its board has initiated 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 reacquire up to 2.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Mastercard Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Wednesday, April 9th will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Wednesday, April 9th. Mastercard’s dividend payout ratio is currently 21.89%.

Analysts Set New Price Targets

A number of equities analysts recently commented on MA shares. Keefe, Bruyette & Woods upped their target price on Mastercard from $618.00 to $665.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Jefferies Financial Group upped their target price on Mastercard from $590.00 to $610.00 and gave the company a “buy” rating in a report on Monday, December 9th. DZ Bank upgraded Mastercard from a “hold” rating to a “buy” rating and set a $620.00 target price for the company in a report on Tuesday, February 4th. Piper Sandler restated an “overweight” rating and set a $635.00 target price (up previously from $591.00) on shares of Mastercard in a report on Friday, January 31st. Finally, TD Cowen upped their target price on Mastercard from $533.00 to $567.00 and gave the company a “buy” rating in a report on Friday, November 15th. Four investment 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $606.11.

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.