Parsons Capital Management Inc. RI decreased its position in shares of Mastercard Incorporated (NYSE:MA – Free Report) by 3.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,447 shares of the credit services provider’s stock after selling 552 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Mastercard were worth $7,081,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently modified their holdings of the company. Temasek Holdings Private Ltd lifted its stake in shares of Mastercard by 2.3% in the 3rd quarter. Temasek Holdings Private Ltd now owns 2,805,554 shares of the credit services provider’s stock valued at $1,385,383,000 after purchasing an additional 62,891 shares during the last quarter. Nordea Investment Management AB raised its holdings in Mastercard by 15.6% in the 4th quarter. Nordea Investment Management AB now owns 2,510,756 shares of the credit services provider’s stock valued at $1,325,353,000 after buying an additional 337,905 shares during the period. Cardano Risk Management B.V. lifted its position in Mastercard by 2.7% in the fourth quarter. Cardano Risk Management B.V. now owns 368,690 shares of the credit services provider’s stock valued at $194,141,000 after buying an additional 9,611 shares during the last quarter. Sarasin & Partners LLP boosted its stake in Mastercard by 4.7% during the third quarter. Sarasin & Partners LLP now owns 831,942 shares of the credit services provider’s stock worth $410,813,000 after buying an additional 37,486 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Mastercard by 2.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,010,430 shares of the credit services provider’s stock valued at $2,474,151,000 after acquiring an additional 100,550 shares during the last quarter. Hedge funds and other institutional investors own 97.28% of the company’s stock.
Mastercard Trading Down 0.1 %
Shares of Mastercard stock opened at $533.50 on Monday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 2.36. The company has a fifty day simple moving average of $524.77 and a 200-day simple moving average of $497.91. The stock has a market cap of $489.66 billion, a price-to-earnings ratio of 40.36, a PEG ratio of 2.10 and a beta of 1.10. Mastercard Incorporated has a 12-month low of $428.86 and a 12-month high of $537.70.
Mastercard announced that its Board of Directors has authorized a share buyback 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 often an indication that the company’s board of directors believes its shares are undervalued.
Mastercard Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Thursday, January 9th will be issued a $0.76 dividend. This is an increase from Mastercard’s previous quarterly dividend of $0.66. This represents a $3.04 annualized dividend and a dividend yield of 0.57%. The ex-dividend date is Friday, January 10th. Mastercard’s dividend payout ratio is presently 23.00%.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on the stock. Piper Sandler upped their price objective on shares of Mastercard from $575.00 to $591.00 and gave the stock an “overweight” rating in a report on Friday. Barclays lifted their price objective on Mastercard from $536.00 to $576.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Macquarie increased their target price on Mastercard from $505.00 to $565.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Jefferies Financial Group lifted their target price on Mastercard from $590.00 to $610.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, UBS Group increased their price target on shares of Mastercard from $590.00 to $610.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Mastercard currently has a consensus rating of “Moderate Buy” and a consensus target price of $567.29.
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.
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