NewEdge Wealth LLC Acquires 3,218 Shares of Mastercard Incorporated (NYSE:MA)

NewEdge Wealth LLC increased its holdings in Mastercard Incorporated (NYSE:MA) by 3.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 100,155 shares of the credit services provider’s stock after buying an additional 3,218 shares during the period. Mastercard accounts for 0.9% of NewEdge Wealth LLC’s investment portfolio, making the stock its 19th biggest position. NewEdge Wealth LLC’s holdings in Mastercard were worth $52,739,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of MA. State Street Corp lifted its holdings in shares of Mastercard by 0.7% in the third quarter. State Street Corp now owns 35,288,912 shares of the credit services provider’s stock worth $17,425,665,000 after buying an additional 257,312 shares in the last quarter. FMR LLC lifted its stake in Mastercard by 3.4% in the 3rd quarter. FMR LLC now owns 21,355,081 shares of the credit services provider’s stock worth $10,545,139,000 after purchasing an additional 700,769 shares in the last quarter. Geode Capital Management LLC boosted 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 purchasing an additional 453,773 shares during the period. Franklin Resources Inc. grew its position in shares of Mastercard by 4.2% during the 3rd quarter. Franklin Resources Inc. now owns 7,501,814 shares of the credit services provider’s stock valued at $3,800,836,000 after purchasing an additional 304,293 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Mastercard by 1.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,308,684 shares of the credit services provider’s stock worth $3,115,228,000 after purchasing an additional 64,456 shares during the period. 97.28% of the stock is currently owned by hedge funds and other institutional investors.

Mastercard Stock Down 0.6 %

NYSE MA opened at $560.86 on Thursday. 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 $511.34 billion, a PE ratio of 40.38, a PEG ratio of 2.37 and a beta of 1.10. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.03 and a quick ratio of 1.03. The business’s 50-day moving average is $541.04 and its 200 day moving average is $516.03.

Mastercard (NYSE:MA) last issued its quarterly earnings data on Thursday, January 30th. The credit services provider reported $3.82 earnings per share for the quarter, topping analysts’ consensus estimates of $3.71 by $0.11. Mastercard had a return on equity of 188.47% and a net margin of 45.71%. Sell-side analysts forecast that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard announced that its Board of Directors has authorized a share repurchase plan 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 reacquire up to 2.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

Mastercard Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Wednesday, April 9th will be given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date is Wednesday, April 9th. Mastercard’s payout ratio is currently 21.89%.

Analyst Ratings Changes

Several research firms recently issued reports on MA. Raymond James reissued an “outperform” rating and set a $640.00 price objective (up previously from $614.00) on shares of Mastercard in a research note on Friday, January 31st. Tigress Financial lifted their price target on Mastercard from $550.00 to $685.00 and gave the company a “strong-buy” rating in a research report on Thursday, February 13th. Monness Crespi & Hardt upgraded shares of Mastercard from a “neutral” rating to a “buy” rating and set a $640.00 price objective on the stock in a research report on Friday, January 31st. Piper Sandler reiterated an “overweight” rating and set a $635.00 target price (up from $591.00) on shares of Mastercard in a research report on Friday, January 31st. Finally, Wells Fargo & Company increased their price target on shares of Mastercard from $585.00 to $625.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.