Elite Wealth Management Inc. Cuts Stock Position in Mastercard Incorporated (NYSE:MA)

Elite Wealth Management Inc. decreased its holdings in Mastercard Incorporated (NYSE:MA) by 3.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,495 shares of the credit services provider’s stock after selling 481 shares during the quarter. Mastercard accounts for about 0.9% of Elite Wealth Management Inc.’s holdings, making the stock its 11th biggest holding. Elite Wealth Management Inc.’s holdings in Mastercard were worth $7,106,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in MA. Swedbank AB raised its holdings in Mastercard by 14.8% in the third quarter. Swedbank AB now owns 1,874,568 shares of the credit services provider’s stock valued at $925,662,000 after acquiring an additional 241,297 shares in the last quarter. McAdam LLC raised its holdings in shares of Mastercard by 19.6% in the 3rd quarter. McAdam LLC now owns 1,174 shares of the credit services provider’s stock valued at $580,000 after purchasing an additional 192 shares in the last quarter. DT Investment Partners LLC raised its holdings in shares of Mastercard by 5.6% in the 3rd quarter. DT Investment Partners LLC now owns 1,760 shares of the credit services provider’s stock valued at $869,000 after purchasing an additional 93 shares in the last quarter. Woodard & Co. Asset Management Group Inc. ADV lifted its position in shares of Mastercard by 6.5% during the 3rd quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 7,402 shares of the credit services provider’s stock worth $3,655,000 after purchasing an additional 452 shares during the last quarter. Finally, Zweig DiMenna Associates LLC grew its stake in shares of Mastercard by 118.5% during the third quarter. Zweig DiMenna Associates LLC now owns 21,850 shares of the credit services provider’s stock worth $10,790,000 after purchasing an additional 11,850 shares in the last quarter. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Mastercard Stock Performance

Shares of MA opened at $557.44 on Friday. Mastercard Incorporated has a 1 year low of $428.86 and a 1 year high of $576.94. The stock has a market capitalization of $511.63 billion, a P/E ratio of 40.13, a P/E/G ratio of 2.39 and a beta of 1.10. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.03 and a current ratio of 1.03. The company’s fifty day moving average is $538.98 and its two-hundred day moving average is $513.33.

Mastercard (NYSE:MA) last posted its quarterly earnings results on Thursday, January 30th. The credit services provider reported $3.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.71 by $0.11. Mastercard had a net margin of 45.71% and a return on equity of 188.47%. On average, sell-side analysts predict that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard announced that its Board of Directors has approved a stock repurchase program on Tuesday, December 17th that authorizes the company to buyback $12.00 billion in outstanding shares. This buyback authorization authorizes the credit services provider to purchase up to 2.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Mastercard Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Wednesday, April 9th will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date is Wednesday, April 9th. Mastercard’s dividend payout ratio is presently 21.89%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on MA shares. Citigroup raised their price target on Mastercard from $584.00 to $650.00 and gave the company a “buy” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. boosted their target price on Mastercard from $590.00 to $610.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. DZ Bank raised shares of Mastercard from a “hold” rating to a “buy” rating and set a $620.00 price objective on the stock in a report on Tuesday, February 4th. Morgan Stanley reduced their price objective on shares of Mastercard from $654.00 to $644.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Finally, Jefferies Financial Group increased their target price on shares of Mastercard from $590.00 to $610.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Four research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Mastercard presently has a consensus rating of “Moderate Buy” and an average price target of $606.11.

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.