Norway Savings Bank lessened its stake in shares of Mastercard Incorporated (NYSE:MA – Free Report) by 13.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 904 shares of the credit services provider’s stock after selling 145 shares during the period. Norway Savings Bank’s holdings in Mastercard were worth $476,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of MA. International Assets Investment Management LLC increased its holdings in Mastercard by 120,665.3% in the 3rd quarter. International Assets Investment Management LLC now owns 8,041,758 shares of the credit services provider’s stock worth $3,971,020,000 after purchasing an additional 8,035,099 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Mastercard by 51.7% during the third quarter. Bank of Montreal Can now owns 5,765,714 shares of the credit services provider’s stock worth $2,846,187,000 after purchasing an additional 1,965,782 shares during the last quarter. FMR LLC increased its stake in shares of Mastercard by 3.4% in the third quarter. FMR LLC now owns 21,355,081 shares of the credit services provider’s stock valued at $10,545,139,000 after buying an additional 700,769 shares during the period. Geode Capital Management LLC raised its holdings in Mastercard by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 18,375,053 shares of the credit services provider’s stock valued at $9,043,972,000 after buying an additional 453,773 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. boosted its position in Mastercard by 52.8% during the 3rd quarter. Montrusco Bolton Investments Inc. now owns 1,185,081 shares of the credit services provider’s stock worth $573,017,000 after buying an additional 409,334 shares during the period. 97.28% of the stock is currently owned by institutional investors and hedge funds.
Mastercard Stock Up 0.1 %
NYSE:MA traded up $0.33 during trading hours on Tuesday, hitting $512.26. 1,172,490 shares of the company traded hands, compared to its average volume of 2,122,005. Mastercard Incorporated has a one year low of $416.53 and a one year high of $537.70. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 2.36. The company has a market cap of $470.17 billion, a PE ratio of 38.75, a PEG ratio of 2.36 and a beta of 1.10. The firm’s 50-day simple moving average is $523.65 and its 200-day simple moving average is $490.70.
Mastercard declared that its board has authorized a stock buyback plan on Tuesday, December 17th that authorizes the company to buyback $12.00 billion in shares. This buyback authorization authorizes the credit services provider to reacquire up to 2.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.
Mastercard Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Thursday, January 9th will be given a dividend of $0.76 per share. The ex-dividend date is Friday, January 10th. This is a positive change from Mastercard’s previous quarterly dividend of $0.66. This represents a $3.04 annualized dividend and a dividend yield of 0.59%. Mastercard’s dividend payout ratio (DPR) is currently 23.00%.
Analysts Set New Price Targets
Several research firms have recently issued reports on MA. Piper Sandler reaffirmed an “overweight” rating and set a $575.00 price target (up previously from $565.00) on shares of Mastercard in a research note on Friday, November 15th. Morgan Stanley raised their target price on Mastercard from $564.00 to $654.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Susquehanna upped their price target on Mastercard from $540.00 to $605.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Royal Bank of Canada restated an “outperform” rating and set a $572.00 price objective on shares of Mastercard in a research report on Thursday, November 14th. Finally, BMO Capital Markets lifted their price objective on Mastercard from $550.00 to $565.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $562.76.
Check Out Our Latest Analysis on Mastercard
About Mastercard
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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