Atwood & Palmer Inc. trimmed its holdings in Mastercard Incorporated (NYSE:MA – Free Report) by 0.4% during the fourth quarter, HoldingsChannel reports. The firm owned 63,921 shares of the credit services provider’s stock after selling 233 shares during the period. Mastercard comprises about 2.3% of Atwood & Palmer Inc.’s investment portfolio, making the stock its 12th biggest holding. Atwood & Palmer Inc.’s holdings in Mastercard were worth $33,659,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also made changes to their positions in MA. Highline Wealth Partners LLC acquired a new position in shares of Mastercard during the 3rd quarter valued at about $25,000. Strategic Investment Solutions Inc. IL acquired a new position in Mastercard in the 2nd quarter valued at about $34,000. First Personal Financial Services acquired a new position in Mastercard in the 3rd quarter valued at about $39,000. Lowe Wealth Advisors LLC grew its stake in shares of Mastercard by 74.0% in the 3rd quarter. Lowe Wealth Advisors LLC now owns 87 shares of the credit services provider’s stock valued at $43,000 after buying an additional 37 shares during the period. Finally, FSA Wealth Management LLC acquired a new stake in shares of Mastercard during the 3rd quarter worth approximately $54,000. 97.28% of the stock is currently owned by institutional investors and hedge funds.
Mastercard Stock Up 0.4 %
Shares of NYSE:MA opened at $525.22 on Tuesday. Mastercard Incorporated has a fifty-two week low of $427.45 and a fifty-two week high of $537.70. The firm’s 50 day moving average price is $524.28 and its 200 day moving average price is $494.92. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 2.36. The stock has a market cap of $482.06 billion, a price-to-earnings ratio of 39.73, a price-to-earnings-growth ratio of 2.09 and a beta of 1.10.
Mastercard Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Thursday, January 9th will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Friday, January 10th. This is a positive change from Mastercard’s previous quarterly dividend of $0.66. Mastercard’s dividend payout ratio (DPR) is 23.00%.
Mastercard declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, December 17th that authorizes the company to repurchase $12.00 billion in 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 often an indication that the company’s management believes its stock is undervalued.
Analyst Upgrades and Downgrades
A number of research firms recently commented on MA. Morgan Stanley upped their price objective on Mastercard from $564.00 to $654.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Keefe, Bruyette & Woods raised their price objective on Mastercard from $580.00 to $618.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. UBS Group upped their target price on shares of Mastercard from $590.00 to $610.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Royal Bank of Canada reiterated an “outperform” rating and set a $572.00 price target on shares of Mastercard in a research report on Thursday, November 14th. Finally, Barclays increased their price objective on shares of Mastercard from $536.00 to $576.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $566.63.
Read Our Latest Stock Analysis on Mastercard
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.
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