Atlantic Union Bankshares Corp Purchases 300 Shares of Mastercard Incorporated (NYSE:MA)

Atlantic Union Bankshares Corp raised its stake in Mastercard Incorporated (NYSE:MA) by 1.0% in the 4th quarter, HoldingsChannel reports. The fund owned 31,135 shares of the credit services provider’s stock after buying an additional 300 shares during the quarter. Mastercard accounts for about 0.9% of Atlantic Union Bankshares Corp’s holdings, making the stock its 22nd biggest holding. Atlantic Union Bankshares Corp’s holdings in Mastercard were worth $16,395,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MA. Bank of Montreal Can grew its position in shares of Mastercard by 51.7% during the 3rd quarter. Bank of Montreal Can now owns 5,765,714 shares of the credit services provider’s stock worth $2,846,187,000 after buying an additional 1,965,782 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Mastercard during the 4th quarter worth approximately $837,017,000. Proficio Capital Partners LLC grew its position in shares of Mastercard by 79,739.7% during the 4th quarter. Proficio Capital Partners LLC now owns 1,555,277 shares of the credit services provider’s stock worth $818,962,000 after buying an additional 1,553,329 shares during the period. FMR LLC grew its position in shares of Mastercard by 3.4% during the 3rd quarter. FMR LLC now owns 21,355,081 shares of the credit services provider’s stock worth $10,545,139,000 after buying an additional 700,769 shares during the period. Finally, Amundi grew its position in shares of Mastercard by 13.1% during the 4th quarter. Amundi now owns 4,899,438 shares of the credit services provider’s stock worth $2,532,541,000 after buying an additional 565,717 shares during the period. Institutional investors and hedge funds own 97.28% of the company’s stock.

Mastercard Stock Down 0.5 %

Shares of NYSE MA opened at $546.98 on Friday. The company has a 50 day simple moving average of $545.15 and a 200 day simple moving average of $520.41. The firm has a market cap of $498.68 billion, a PE ratio of 39.38, 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. 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 (NYSE:MA) last announced its quarterly earnings data on Thursday, January 30th. The credit services provider reported $3.82 EPS for the quarter, topping 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%. On average, research analysts forecast that Mastercard Incorporated will post 15.91 EPS for the current year.

Mastercard Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Wednesday, April 9th will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend is Wednesday, April 9th. Mastercard’s dividend payout ratio is 21.89%.

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Piper Sandler restated an “overweight” rating and set a $635.00 price objective (up previously from $591.00) on shares of Mastercard in a report on Friday, January 31st. Morgan Stanley decreased their price objective on shares of Mastercard from $654.00 to $644.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Barclays lifted their price target on shares of Mastercard from $595.00 to $650.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. William Blair reissued an “outperform” rating on shares of Mastercard in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Mastercard from $590.00 to $610.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Four investment 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’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $606.11.

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.