Mastercard Incorporated (NYSE:MA) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. lessened its stake in Mastercard Incorporated (NYSE:MA) by 2.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 50,638 shares of the credit services provider’s stock after selling 1,241 shares during the quarter. Mastercard accounts for about 0.9% of Hartford Investment Management Co.’s portfolio, making the stock its 16th largest holding. Hartford Investment Management Co.’s holdings in Mastercard were worth $26,664,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Armstrong Advisory Group Inc. grew its holdings in Mastercard by 9.4% in the third quarter. Armstrong Advisory Group Inc. now owns 372 shares of the credit services provider’s stock valued at $184,000 after purchasing an additional 32 shares during the period. Harrington Investments INC grew its stake in Mastercard by 14.0% in the 3rd quarter. Harrington Investments INC now owns 3,225 shares of the credit services provider’s stock valued at $1,593,000 after acquiring an additional 395 shares during the period. Creative Planning raised its position in Mastercard by 5.8% during the third quarter. Creative Planning now owns 205,594 shares of the credit services provider’s stock worth $101,523,000 after acquiring an additional 11,331 shares during the period. Zhang Financial LLC lifted its holdings in Mastercard by 3.2% during the third quarter. Zhang Financial LLC now owns 1,641 shares of the credit services provider’s stock valued at $810,000 after purchasing an additional 51 shares in the last quarter. Finally, Swedbank AB grew its position in shares of Mastercard by 14.8% in the third quarter. Swedbank AB now owns 1,874,568 shares of the credit services provider’s stock valued at $925,662,000 after purchasing an additional 241,297 shares during the period. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Mastercard Price Performance

NYSE:MA opened at $564.79 on Wednesday. The company has a market capitalization of $518.38 billion, a P/E ratio of 40.66, a P/E/G ratio of 2.37 and a beta of 1.10. The company has a quick ratio of 1.29, a current ratio of 1.03 and a debt-to-equity ratio of 2.68. Mastercard Incorporated has a 52 week low of $428.86 and a 52 week high of $576.94. The stock’s fifty day moving average is $532.30 and its two-hundred day moving average is $507.00.

Mastercard (NYSE:MA) last issued its quarterly earnings data on Thursday, January 30th. The credit services provider reported $3.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.71 by $0.11. Mastercard had a net margin of 45.71% and a return on equity of 188.47%. Equities analysts expect that Mastercard Incorporated will post 15.98 EPS for the current year.

Mastercard Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $3.04 annualized dividend and a dividend yield of 0.54%. Mastercard’s dividend payout ratio is currently 21.89%.

Mastercard announced that its Board of Directors has authorized a share buyback plan on Tuesday, December 17th that permits the company to repurchase $12.00 billion in shares. This repurchase authorization permits the credit services provider to purchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Keefe, Bruyette & Woods upped their price target on shares of Mastercard from $618.00 to $665.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. raised their target price on Mastercard from $590.00 to $610.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Susquehanna boosted their price target on Mastercard from $605.00 to $670.00 and gave the stock a “positive” rating in a research report on Friday, January 31st. Raymond James reissued an “outperform” rating and issued a $640.00 price objective (up from $614.00) on shares of Mastercard in a research note on Friday, January 31st. Finally, TD Cowen lifted their target price on shares of Mastercard from $533.00 to $567.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Four equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Mastercard currently has an average rating of “Moderate Buy” and a consensus target price of $603.08.

Mastercard 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.