Douglas Lane & Associates LLC decreased its stake in shares of Mastercard Incorporated (NYSE:MA) by 2.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 297,757 shares of the credit services provider’s stock after selling 8,282 shares during the period. Mastercard makes up 1.8% of Douglas Lane & Associates LLC’s holdings, making the stock its 13th biggest holding. Douglas Lane & Associates LLC’s holdings in Mastercard were worth $106,282,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. United Bank lifted its holdings in Mastercard by 53.2% during the 2nd quarter. United Bank now owns 2,344 shares of the credit services provider’s stock worth $693,000 after buying an additional 814 shares in the last quarter. AdvisorNet Financial Inc raised its stake in shares of Mastercard by 2.3% during the second quarter. AdvisorNet Financial Inc now owns 4,193 shares of the credit services provider’s stock worth $1,240,000 after buying an additional 95 shares during the last quarter. WFA of San Diego LLC acquired a new position in Mastercard in the second quarter valued at approximately $229,000. Advisor OS LLC acquired a new stake in Mastercard during the 2nd quarter worth $278,000. Finally, Bridgeway Capital Management Inc. bought a new stake in shares of Mastercard during the 2nd quarter valued at $237,000. 67.87% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts recently commented on MA shares. JPMorgan Chase & Co. decreased their price objective on Mastercard from $372.00 to $342.00 and set an “overweight” rating for the company in a research note on Thursday, October 29th. Bank of America upgraded Mastercard from a “neutral” rating to a “buy” rating and set a $400.00 target price for the company in a research report on Wednesday, January 6th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Mastercard from $383.00 to $420.00 and gave the company a “buy” rating in a research report on Thursday. Royal Bank of Canada decreased their price objective on shares of Mastercard from $350.00 to $372.00 in a report on Thursday, October 29th. Finally, Morgan Stanley increased their target price on shares of Mastercard from $338.00 to $359.00 and gave the stock an “overweight” rating in a report on Monday, October 26th. Three research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $353.30.
Shares of Mastercard stock traded down $9.76 during mid-day trading on Thursday, hitting $336.57. 112,329 shares of the stock were exchanged, compared to its average volume of 3,681,645. The company has a market capitalization of $335.54 billion, a P/E ratio of 51.92, a P/E/G ratio of 3.09 and a beta of 1.19. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.85 and a current ratio of 1.85. The company has a 50-day simple moving average of $341.65 and a 200 day simple moving average of $329.50. Mastercard Incorporated has a 12 month low of $199.99 and a 12 month high of $367.25.
Mastercard (NYSE:MA) last issued its quarterly earnings results on Wednesday, October 28th. The credit services provider reported $1.60 EPS for the quarter, missing the Zacks’ consensus estimate of $1.65 by ($0.05). The business had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.94 billion. Mastercard had a return on equity of 114.80% and a net margin of 43.13%. Analysts predict that Mastercard Incorporated will post 6.35 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 9th. Investors of record on Friday, January 8th will be issued a $0.44 dividend. This is an increase from Mastercard’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend is Thursday, January 7th. Mastercard’s payout ratio is 22.65%.
Mastercard declared that its board has authorized a share repurchase plan on Tuesday, December 8th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the credit services provider to purchase up to 1.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.
Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers related products and services.
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