IBM Retirement Fund boosted its position in shares of Mastercard Inc (NYSE:MA) by 6.0% in the fourth quarter, Holdings Channel reports. The fund owned 24,790 shares of the credit services provider’s stock after acquiring an additional 1,409 shares during the period. IBM Retirement Fund’s holdings in Mastercard were worth $4,093,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently added to or reduced their stakes in MA. Vestor Capital LLC raised its position in shares of Mastercard by 0.3% during the second quarter. Vestor Capital LLC now owns 37,485 shares of the credit services provider’s stock valued at $4,553,000 after buying an additional 100 shares during the last quarter. Norinchukin Bank The raised its position in shares of Mastercard by 3.5% during the second quarter. Norinchukin Bank The now owns 113,349 shares of the credit services provider’s stock valued at $13,766,000 after buying an additional 3,868 shares during the last quarter. Standard Life Investments LTD raised its position in shares of Mastercard by 41.2% during the second quarter. Standard Life Investments LTD now owns 2,449,394 shares of the credit services provider’s stock valued at $297,490,000 after buying an additional 714,843 shares during the last quarter. Captrust Financial Advisors acquired a new position in shares of Mastercard during the second quarter valued at about $172,000. Finally, King Luther Capital Management Corp raised its position in shares of Mastercard by 1.5% during the second quarter. King Luther Capital Management Corp now owns 30,919 shares of the credit services provider’s stock valued at $3,755,000 after buying an additional 460 shares during the last quarter. 76.10% of the stock is owned by hedge funds and other institutional investors.
In other Mastercard news, insider Edward Grunde Mclaughlin sold 17,167 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $151.81, for a total transaction of $2,606,122.27. Following the sale, the insider now directly owns 47,901 shares of the company’s stock, valued at $7,271,850.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.30% of the stock is currently owned by corporate insiders.
Mastercard (NYSE:MA) last issued its quarterly earnings data on Thursday, February 1st. The credit services provider reported $1.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.02. The firm had revenue of $3.31 billion for the quarter, compared to analysts’ expectations of $3.25 billion. Mastercard had a net margin of 31.33% and a return on equity of 83.57%. The company’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.86 earnings per share. sell-side analysts predict that Mastercard Inc will post 5.92 EPS for the current fiscal year.
Mastercard announced that its board has approved a stock buyback plan on Monday, December 4th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the credit services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 9th. Shareholders of record on Monday, April 9th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, April 6th. This represents a $1.00 annualized dividend and a yield of 0.55%. Mastercard’s dividend payout ratio is 27.40%.
A number of research analysts have recently commented on the stock. Vetr raised shares of Mastercard from a “hold” rating to a “buy” rating and set a $182.50 price objective for the company in a research report on Thursday, March 1st. Tigress Financial reaffirmed a “buy” rating on shares of Mastercard in a research report on Thursday, February 8th. Zacks Investment Research raised shares of Mastercard from a “hold” rating to a “buy” rating and set a $191.00 price objective for the company in a research report on Monday, February 5th. BMO Capital Markets upped their price objective on shares of Mastercard to $206.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Finally, Cantor Fitzgerald upped their price objective on shares of Mastercard to $198.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Two equities research analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $177.40.
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MasterCard Incorporated is a technology company that connects consumers, financial institutions, merchants, governments and businesses across the world, enabling them to use electronic forms of payment. The Company operates through Payment Solutions segment. The Company allows user to make payments by creating a range of payment solutions and services using its brands, which include MasterCard, Maestro and Cirrus.
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