Cannon Advisors Inc. Trims Stock Position in Mastercard Incorporated (NYSE:MA)

Cannon Advisors Inc. trimmed its holdings in shares of Mastercard Incorporated (NYSE:MA) by 7.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,490 shares of the credit services provider’s stock after selling 413 shares during the period. Mastercard comprises approximately 2.5% of Cannon Advisors Inc.’s holdings, making the stock its 14th biggest holding. Cannon Advisors Inc.’s holdings in Mastercard were worth $2,891,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. NewSquare Capital LLC purchased a new position in Mastercard during the fourth quarter worth $26,000. Marshall Investment Management LLC purchased a new stake in Mastercard during the 4th quarter worth about $30,000. Halbert Hargrove Global Advisors LLC acquired a new position in Mastercard in the 4th quarter valued at about $32,000. Truvestments Capital LLC lifted its holdings in Mastercard by 62.5% in the 4th quarter. Truvestments Capital LLC now owns 65 shares of the credit services provider’s stock valued at $34,000 after purchasing an additional 25 shares in the last quarter. Finally, CoreFirst Bank & Trust acquired a new stake in shares of Mastercard during the 4th quarter worth about $37,000. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Mastercard Price Performance

MA stock opened at $548.66 on Tuesday. The firm has a market cap of $500.22 billion, a P/E ratio of 39.50, a price-to-earnings-growth ratio of 2.37 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. Mastercard Incorporated has a 1 year low of $428.86 and a 1 year high of $582.23. The stock has a 50-day simple moving average of $551.05 and a 200-day simple moving average of $527.59.

Mastercard (NYSE:MA) last issued its quarterly earnings data on Thursday, January 30th. The credit services provider reported $3.82 earnings per share (EPS) for the quarter, beating 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, equities analysts predict that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Announces Dividend

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

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Mastercard from $618.00 to $665.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Morgan Stanley cut their price target on Mastercard from $654.00 to $644.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Royal Bank of Canada raised their price objective on Mastercard from $572.00 to $650.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Susquehanna upped their target price on Mastercard from $605.00 to $670.00 and gave the company a “positive” rating in a research note on Friday, January 31st. Finally, Raymond James reiterated an “outperform” rating and set a $640.00 target price (up from $614.00) on shares of Mastercard in a research report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $606.11.

Insider Buying and Selling at Mastercard

In other Mastercard news, insider Edward Grunde Mclaughlin sold 7,132 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $534.68, for a total value of $3,813,337.76. Following the transaction, the insider now directly owns 34,524 shares of the company’s stock, valued at $18,459,292.32. This represents a 17.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael Miebach sold 15,775 shares of the firm’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $550.16, for a total transaction of $8,678,774.00. Following the sale, the chief executive officer now directly owns 84,871 shares of the company’s stock, valued at $46,692,629.36. The trade was a 15.67 % decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by corporate insiders.

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.