Douglas Lane & Associates LLC decreased its holdings in Mastercard Incorporated (NYSE:MA) by 2.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 297,757 shares of the credit services provider’s stock after selling 8,282 shares during the period. Mastercard makes up about 1.8% of Douglas Lane & Associates LLC’s holdings, making the stock its 13th biggest holding. Douglas Lane & Associates LLC’s holdings in Mastercard were worth $106,282,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the stock. Raymond James Trust N.A. lifted its position in shares of Mastercard by 10.4% in the 4th quarter. Raymond James Trust N.A. now owns 18,372 shares of the credit services provider’s stock worth $6,557,000 after purchasing an additional 1,731 shares during the period. Captrust Financial Advisors lifted its stake in shares of Mastercard by 5.1% in the third quarter. Captrust Financial Advisors now owns 66,668 shares of the credit services provider’s stock worth $22,892,000 after buying an additional 3,210 shares in the last quarter. CHURCHILL MANAGEMENT Corp increased its position in shares of Mastercard by 6.6% during the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 60,286 shares of the credit services provider’s stock valued at $21,518,000 after acquiring an additional 3,712 shares in the last quarter. First PREMIER Bank raised its holdings in Mastercard by 2.3% in the 3rd quarter. First PREMIER Bank now owns 13,420 shares of the credit services provider’s stock worth $4,538,000 after acquiring an additional 300 shares during the last quarter. Finally, Avalon Investment & Advisory lifted its position in Mastercard by 8.2% in the 3rd quarter. Avalon Investment & Advisory now owns 7,269 shares of the credit services provider’s stock valued at $2,458,000 after acquiring an additional 553 shares in the last quarter. Institutional investors own 67.87% of the company’s stock.
MA has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their price target on Mastercard from $383.00 to $420.00 and gave the stock a “buy” rating in a research note on Thursday. BMO Capital Markets decreased their target price on Mastercard from $345.00 to $333.00 and set an “outperform” rating for the company in a research report on Thursday, October 29th. KeyCorp lowered their target price on shares of Mastercard from $365.00 to $325.00 and set an “overweight” rating on the stock in a research note on Monday, November 2nd. Smith Barney Citigroup reduced their price target on shares of Mastercard from $384.00 to $355.00 in a research note on Thursday, October 29th. Finally, Morgan Stanley boosted their price objective on shares of Mastercard from $338.00 to $359.00 and gave the company an “overweight” rating in a research report on Monday, October 26th. Three research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $353.30.
Mastercard (NYSE:MA) last issued its earnings results on Wednesday, October 28th. The credit services provider reported $1.60 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.05). The company had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.94 billion. Mastercard had a net margin of 43.13% and a return on equity of 114.80%. As a group, equities analysts expect that Mastercard Incorporated will post 6.35 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 9th. Shareholders of record on Friday, January 8th will be issued a $0.44 dividend. The ex-dividend date is Thursday, January 7th. This represents a $1.76 annualized dividend and a yield of 0.52%. This is a positive change from Mastercard’s previous quarterly dividend of $0.40. Mastercard’s dividend payout ratio is presently 22.65%.
Mastercard declared that its Board of Directors has approved a stock repurchase plan on Tuesday, December 8th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the credit services provider to repurchase up to 1.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are undervalued.
In related news, major shareholder Foundation Mastercard sold 30,100 shares of the firm’s stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $286.48, for a total transaction of $8,623,048.00. Following the completion of the sale, the insider now owns 109,426,813 shares in the company, valued at $31,348,593,388.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Edward Grunde Mclaughlin sold 13,248 shares of the company’s stock in a transaction that occurred on Friday, January 8th. The shares were sold at an average price of $350.73, for a total value of $4,646,471.04. Following the completion of the transaction, the insider now owns 38,447 shares in the company, valued at approximately $13,484,516.31. The disclosure for this sale can be found here. Insiders have sold 494,858 shares of company stock worth $156,949,220 over the last ninety days. 3.79% of the stock is owned by insiders.
Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers related products and services.
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