Condor Capital Management Sells 250 Shares of Mastercard Incorporated (NYSE:MA)

Condor Capital Management cut its holdings in shares of Mastercard Incorporated (NYSE:MA) by 1.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,509 shares of the credit services provider’s stock after selling 250 shares during the period. Condor Capital Management’s holdings in Mastercard were worth $8,167,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Temasek Holdings Private Ltd increased its position in shares of Mastercard by 2.3% during the third quarter. Temasek Holdings Private Ltd now owns 2,805,554 shares of the credit services provider’s stock worth $1,385,383,000 after acquiring an additional 62,891 shares in the last quarter. Cardano Risk Management B.V. boosted its holdings in Mastercard by 2.7% during the fourth 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 during the last quarter. Dock Street Asset Management Inc. boosted its holdings in Mastercard by 4.5% during the fourth quarter. Dock Street Asset Management Inc. now owns 68,237 shares of the credit services provider’s stock worth $35,932,000 after purchasing an additional 2,931 shares during the last quarter. Nordea Investment Management AB boosted its holdings in Mastercard by 15.6% during the fourth 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Mastercard by 2.0% during the third 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 during the last quarter. 97.28% of the stock is owned by institutional investors.

Mastercard Stock Performance

Mastercard stock opened at $535.93 on Thursday. The firm’s 50 day simple moving average is $546.56 and its 200 day simple moving average is $523.92. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.68. The firm has a market capitalization of $488.61 billion, a PE ratio of 38.58, a price-to-earnings-growth ratio of 2.37 and a beta of 1.10. Mastercard Incorporated has a 1-year low of $428.86 and a 1-year high of $582.23.

Mastercard (NYSE:MA) last posted its earnings results on Thursday, January 30th. The credit services provider reported $3.82 earnings per share for the quarter, topping 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, analysts expect that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard declared that its board has approved a stock buyback plan on Tuesday, December 17th that allows the company to buyback $12.00 billion in outstanding shares. This buyback authorization allows the credit services provider to reacquire up to 2.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.

Mastercard Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Wednesday, April 9th will be issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Wednesday, April 9th. Mastercard’s payout ratio is 21.89%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MA. Piper Sandler restated an “overweight” rating and set a $635.00 price target (up from $591.00) on shares of Mastercard in a report on Friday, January 31st. DZ Bank upgraded shares of Mastercard from a “hold” rating to a “buy” rating and set a $620.00 price target on the stock in a report on Tuesday, February 4th. UBS Group boosted their price target on shares of Mastercard from $600.00 to $660.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Royal Bank of Canada boosted their price target on shares of Mastercard from $572.00 to $650.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Finally, Wells Fargo & Company boosted their price target on shares of Mastercard from $585.00 to $625.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Mastercard presently has a consensus rating of “Moderate Buy” and an average price target of $606.11.

About Mastercard

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.