Cibc World Market Inc. Has $131.37 Million Stock Position in Mastercard Incorporated (NYSE:MA)

Cibc World Market Inc. lowered its holdings in Mastercard Incorporated (NYSE:MA) by 35.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 249,490 shares of the credit services provider’s stock after selling 135,993 shares during the quarter. Cibc World Market Inc.’s holdings in Mastercard were worth $131,374,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Temasek Holdings Private Ltd grew its holdings in shares of Mastercard by 2.3% during the 3rd quarter. Temasek Holdings Private Ltd now owns 2,805,554 shares of the credit services provider’s stock worth $1,385,383,000 after purchasing an additional 62,891 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Mastercard by 15.6% during the 4th quarter. Nordea Investment Management AB now owns 2,510,756 shares of the credit services provider’s stock worth $1,325,353,000 after purchasing an additional 337,905 shares in the last quarter. Cardano Risk Management B.V. grew its holdings in shares of Mastercard by 2.7% during the 4th quarter. Cardano Risk Management B.V. now owns 368,690 shares of the credit services provider’s stock worth $194,141,000 after purchasing an additional 9,611 shares in the last quarter. Sarasin & Partners LLP grew its holdings in shares of Mastercard by 4.7% during the 3rd quarter. Sarasin & Partners LLP now owns 831,942 shares of the credit services provider’s stock worth $410,813,000 after purchasing an additional 37,486 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Mastercard by 2.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,010,430 shares of the credit services provider’s stock worth $2,474,151,000 after purchasing an additional 100,550 shares in the last quarter. Institutional investors and hedge funds own 97.28% of the company’s stock.

Mastercard Stock Up 2.9 %

Shares of Mastercard stock opened at $564.81 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 2.36. Mastercard Incorporated has a 12 month low of $428.86 and a 12 month high of $576.94. The business has a fifty day simple moving average of $526.58 and a 200 day simple moving average of $499.80. The stock has a market cap of $518.40 billion, a PE ratio of 42.72, a price-to-earnings-growth ratio of 2.17 and a beta of 1.10.

Mastercard (NYSE:MA) last announced its quarterly earnings data on Thursday, January 30th. The credit services provider reported $3.82 EPS for the quarter, topping analysts’ consensus estimates of $3.71 by $0.11. Mastercard had a return on equity of 178.27% and a net margin of 45.26%. Research analysts predict that Mastercard Incorporated will post 14.47 EPS for the current year.

Mastercard declared that its board has initiated a share repurchase plan on Tuesday, December 17th that allows the company to repurchase $12.00 billion in shares. This repurchase authorization allows the credit services provider to purchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Mastercard Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Thursday, January 9th will be paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 0.54%. This is a boost from Mastercard’s previous quarterly dividend of $0.66. The ex-dividend date is Friday, January 10th. Mastercard’s payout ratio is presently 23.00%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on MA shares. William Blair reissued an “outperform” rating on shares of Mastercard in a report on Monday, November 25th. UBS Group raised their target price on Mastercard from $590.00 to $610.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Piper Sandler raised their target price on Mastercard from $575.00 to $591.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. TD Cowen raised their target price on Mastercard from $533.00 to $567.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, Macquarie raised their target price on Mastercard from $505.00 to $565.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Mastercard currently has an average rating of “Moderate Buy” and a consensus price target 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.