Mastercard Incorporated (NYSE:MA) Shares Sold by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI cut its stake in shares of Mastercard Incorporated (NYSE:MA) by 3.9% in the 4th quarter, Holdings Channel reports. 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 & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Highline Wealth Partners LLC purchased a new stake in Mastercard in the 3rd quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Mastercard in the second quarter valued at approximately $34,000. First Personal Financial Services acquired a new position in Mastercard during the third quarter worth $39,000. Lowe Wealth Advisors LLC raised its position in Mastercard by 74.0% in the third quarter. Lowe Wealth Advisors LLC now owns 87 shares of the credit services provider’s stock worth $43,000 after acquiring an additional 37 shares in the last quarter. Finally, Legacy Investment Solutions LLC acquired a new stake in Mastercard in the third quarter valued at $55,000. 97.28% of the stock is owned by institutional investors and hedge funds.

Mastercard Stock Performance

NYSE MA 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 market capitalization of $489.66 billion, a PE ratio of 40.36, a price-to-earnings-growth ratio of 2.10 and a beta of 1.10. The business’s 50-day moving average price is $524.77 and its 200 day moving average price is $497.91. Mastercard Incorporated has a twelve month low of $428.86 and a twelve month high of $537.70.

Mastercard (NYSE:MA) last released its earnings results on Thursday, October 31st. The credit services provider reported $3.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.73 by $0.16. Mastercard had a net margin of 45.26% and a return on equity of 178.27%. The business had revenue of $7.37 billion for the quarter, compared to analysts’ expectations of $7.27 billion. During the same period last year, the company earned $3.39 earnings per share. The company’s quarterly revenue was up 12.8% on a year-over-year basis. On average, research analysts predict that Mastercard Incorporated will post 14.47 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 repurchase $12.00 billion in shares. This repurchase authorization allows the credit services provider to reacquire up to 2.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Mastercard Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Thursday, January 9th will be paid a dividend of $0.76 per share. The ex-dividend date is Friday, January 10th. This is a boost from Mastercard’s previous quarterly dividend of $0.66. This represents a $3.04 annualized dividend and a dividend yield of 0.57%. Mastercard’s payout ratio is currently 23.00%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Susquehanna increased their price target on shares of Mastercard from $540.00 to $605.00 and gave the company a “positive” rating in a report on Friday, November 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $572.00 price target on shares of Mastercard in a research report on Thursday, November 14th. Citigroup upped their price target on Mastercard from $572.00 to $584.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. William Blair reaffirmed an “outperform” rating on shares of Mastercard in a report on Monday, November 25th. Finally, KeyCorp upped their target price on Mastercard from $515.00 to $580.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Mastercard has an average rating of “Moderate Buy” and a consensus target price of $567.29.

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.