Westpac Banking Corp Buys 405 Shares of Mastercard Incorporated (NYSE:MA)

Westpac Banking Corp raised its position in shares of Mastercard Incorporated (NYSE:MA) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,787 shares of the credit services provider’s stock after acquiring an additional 405 shares during the period. Mastercard makes up approximately 0.9% of Westpac Banking Corp’s investment portfolio, making the stock its 15th largest position. Westpac Banking Corp’s holdings in Mastercard were worth $13,052,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. NewSquare Capital LLC bought a new stake in Mastercard in the 4th quarter valued at $26,000. Marshall Investment Management LLC bought a new stake in shares of Mastercard in the fourth quarter valued at about $30,000. Halbert Hargrove Global Advisors LLC bought a new stake in shares of Mastercard in the fourth quarter valued at about $32,000. Truvestments Capital LLC grew its stake in shares of Mastercard by 62.5% in the fourth quarter. Truvestments Capital LLC now owns 65 shares of the credit services provider’s stock valued at $34,000 after acquiring an additional 25 shares in the last quarter. Finally, CoreFirst Bank & Trust acquired a new stake in Mastercard in the 4th quarter worth about $37,000. Institutional investors and hedge funds own 97.28% of the company’s stock.

Mastercard Price Performance

Mastercard stock opened at $547.62 on Thursday. The firm has a market cap of $499.27 billion, a P/E ratio of 39.43, a P/E/G ratio of 2.37 and a beta of 1.10. The stock’s 50 day moving average is $551.87 and its 200 day moving average is $528.12. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.03 and a quick ratio of 1.03. Mastercard Incorporated has a one year low of $428.86 and a one year high of $582.23.

Mastercard (NYSE:MA) last posted its quarterly earnings data on Thursday, January 30th. The credit services provider reported $3.82 EPS for the quarter, beating analysts’ consensus estimates of $3.71 by $0.11. Mastercard had a net margin of 45.71% and a return on equity of 188.47%. As a group, research analysts expect that Mastercard Incorporated will post 15.91 EPS for the current year.

Mastercard Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Wednesday, April 9th will be given a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Wednesday, April 9th. Mastercard’s dividend payout ratio (DPR) is presently 21.89%.

Mastercard declared that its board has initiated a share buyback program on Tuesday, December 17th that authorizes the company to buyback $12.00 billion in outstanding shares. This buyback authorization authorizes the credit services provider to reacquire up to 2.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts have recently commented on MA shares. Wells Fargo & Company raised their target price on shares of Mastercard from $585.00 to $625.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. UBS Group lifted their price objective on Mastercard from $600.00 to $660.00 and gave the company a “buy” rating in a report on Friday, January 31st. Royal Bank of Canada increased their target price on Mastercard from $572.00 to $650.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Susquehanna boosted their price target on Mastercard from $605.00 to $670.00 and gave the company a “positive” rating in a research note on Friday, January 31st. Finally, DZ Bank upgraded shares of Mastercard from a “hold” rating to a “buy” rating and set a $620.00 price objective on the stock in a research note on Tuesday, February 4th. Four equities research 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’s stock. Based on data from MarketBeat, Mastercard has an average rating of “Moderate Buy” and a consensus target price of $606.11.

Insider Activity

In other Mastercard news, CEO Michael Miebach sold 15,775 shares of Mastercard stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $550.16, for a total value of $8,678,774.00. Following the completion of the sale, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Edward Grunde Mclaughlin sold 7,132 shares of the 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 owns 34,524 shares in the company, valued at $18,459,292.32. The trade was a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is 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.