Canopy Partners LLC Buys 180 Shares of Mastercard Incorporated (NYSE:MA)

Canopy Partners LLC grew its stake in Mastercard Incorporated (NYSE:MA) by 4.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,566 shares of the credit services provider’s stock after acquiring an additional 180 shares during the quarter. Mastercard accounts for 0.9% of Canopy Partners LLC’s portfolio, making the stock its 24th biggest holding. Canopy Partners LLC’s holdings in Mastercard were worth $2,404,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in Mastercard during the 4th quarter valued at about $6,022,224,000. Raymond James Financial Inc. purchased a new position in Mastercard in the 4th quarter worth approximately $837,017,000. Proficio Capital Partners LLC boosted its stake in Mastercard by 79,739.7% during the 4th quarter. Proficio Capital Partners LLC now owns 1,555,277 shares of the credit services provider’s stock valued at $818,962,000 after purchasing an additional 1,553,329 shares during the last quarter. FMR LLC raised its stake in shares of Mastercard by 4.3% in the fourth quarter. FMR LLC now owns 22,267,937 shares of the credit services provider’s stock worth $11,725,627,000 after purchasing an additional 912,856 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Mastercard by 9.1% during the fourth quarter. Wellington Management Group LLP now owns 9,760,740 shares of the credit services provider’s stock valued at $5,139,713,000 after buying an additional 817,836 shares during the last quarter. 97.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on MA shares. Keefe, Bruyette & Woods raised their price target on shares of Mastercard from $618.00 to $665.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Morgan Stanley decreased their target price on shares of Mastercard from $654.00 to $644.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. William Blair restated an “outperform” rating on shares of Mastercard in a research note on Friday, January 31st. Monness Crespi & Hardt raised Mastercard from a “neutral” rating to a “buy” rating and set a $640.00 target price on the stock in a report on Friday, January 31st. Finally, Citigroup raised their target price on Mastercard from $584.00 to $650.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $606.11.

Mastercard Stock Down 7.7 %

NYSE MA opened at $489.94 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.68. Mastercard Incorporated has a 52 week low of $428.86 and a 52 week high of $582.23. The firm has a market capitalization of $446.68 billion, a price-to-earnings ratio of 35.27, a PEG ratio of 2.37 and a beta of 1.06. The company has a fifty day moving average of $550.92 and a two-hundred day moving average of $528.50.

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

Mastercard Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Wednesday, April 9th will be paid a $0.76 dividend. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $3.04 dividend on an annualized basis and a yield of 0.62%. Mastercard’s payout ratio is 21.89%.

Mastercard declared that its board has initiated a stock repurchase plan on Tuesday, December 17th that authorizes the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization authorizes the credit services provider to buy up to 2.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

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

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.