Meiji Yasuda Asset Management Co Ltd. reduced its position in shares of Mastercard Incorporated (NYSE:MA) by 2.3% in the third quarter, HoldingsChannel.com reports. The firm owned 37,111 shares of the credit services provider’s stock after selling 890 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Mastercard were worth $5,240,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Xact Kapitalforvaltning AB raised its stake in Mastercard by 5.2% in the second quarter. Xact Kapitalforvaltning AB now owns 180,077 shares of the credit services provider’s stock worth $21,870,000 after buying an additional 8,855 shares in the last quarter. Capital Asset Advisory Services LLC raised its stake in Mastercard by 2.1% in the second quarter. Capital Asset Advisory Services LLC now owns 4,935 shares of the credit services provider’s stock worth $600,000 after buying an additional 100 shares in the last quarter. BKD Wealth Advisors LLC raised its stake in Mastercard by 3.3% in the second quarter. BKD Wealth Advisors LLC now owns 2,574 shares of the credit services provider’s stock worth $313,000 after buying an additional 82 shares in the last quarter. Highwater Wealth Management LLC bought a new position in Mastercard in the second quarter worth about $278,000. Finally, Charter Trust Co. raised its stake in Mastercard by 2.2% in the second quarter. Charter Trust Co. now owns 13,885 shares of the credit services provider’s stock worth $1,686,000 after buying an additional 299 shares in the last quarter. Institutional investors own 75.58% of the company’s stock.
In other news, insider Edward Grunde Mclaughlin sold 17,167 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $151.81, for a total transaction of $2,606,122.27. Following the sale, the insider now owns 47,901 shares in the company, valued at $7,271,850.81. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.30% of the company’s stock.
Shares of Mastercard Incorporated (NYSE MA) opened at $162.33 on Friday. Mastercard Incorporated has a fifty-two week low of $104.01 and a fifty-two week high of $162.52. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.83. The company has a market cap of $171,850.00, a P/E ratio of 37.84, a PEG ratio of 1.80 and a beta of 1.21.
Mastercard (NYSE:MA) last posted its quarterly earnings results on Tuesday, October 31st. The credit services provider reported $1.34 EPS for the quarter, beating the Zacks’ consensus estimate of $1.23 by $0.11. Mastercard had a net margin of 38.70% and a return on equity of 78.38%. The firm had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.28 billion. During the same quarter in the prior year, the company posted $1.08 earnings per share. The business’s revenue for the quarter was up 18.1% on a year-over-year basis. sell-side analysts forecast that Mastercard Incorporated will post 4.54 EPS for the current year.
Mastercard announced that its Board of Directors has initiated a stock buyback program on Monday, December 4th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the credit services provider to buy shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Tuesday, January 9th will be issued a dividend of $0.25 per share. This is a boost from Mastercard’s previous quarterly dividend of $0.22. The ex-dividend date is Monday, January 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.62%. Mastercard’s dividend payout ratio is presently 23.31%.
A number of equities analysts recently issued reports on MA shares. Buckingham Research started coverage on shares of Mastercard in a research note on Monday, October 2nd. They issued a “buy” rating and a $163.00 price target for the company. Cowen reissued a “buy” rating and issued a $137.00 price target on shares of Mastercard in a research note on Thursday, October 12th. Royal Bank of Canada reissued a “buy” rating and issued a $156.00 price target on shares of Mastercard in a research note on Friday, September 22nd. Zacks Investment Research raised shares of Mastercard from a “hold” rating to a “buy” rating and set a $160.00 target price for the company in a research note on Thursday, September 21st. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $161.00 target price on shares of Mastercard in a research note on Friday, October 13th. Three research analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the company. Mastercard currently has an average rating of “Buy” and an average target price of $161.82.
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MasterCard Incorporated is a technology company that connects consumers, financial institutions, merchants, governments and businesses across the world, enabling them to use electronic forms of payment. The Company operates through Payment Solutions segment. The Company allows user to make payments by creating a range of payment solutions and services using its brands, which include MasterCard, Maestro and Cirrus.
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