Korea Investment CORP Sells 90,156 Shares of Mastercard Incorporated (NYSE:MA)

Korea Investment CORP lowered its position in shares of Mastercard Incorporated (NYSE:MA) by 12.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 646,958 shares of the credit services provider’s stock after selling 90,156 shares during the period. Mastercard comprises about 0.8% of Korea Investment CORP’s portfolio, making the stock its 17th biggest position. Korea Investment CORP’s holdings in Mastercard were worth $340,669,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MA. Principal Financial Group Inc. grew its stake in shares of Mastercard by 4.8% in the third quarter. Principal Financial Group Inc. now owns 3,031,915 shares of the credit services provider’s stock worth $1,497,160,000 after purchasing an additional 138,842 shares during the last quarter. Algert Global LLC acquired a new position in Mastercard during the 3rd quarter worth about $1,540,000. Hardy Reed LLC grew its position in shares of Mastercard by 1.3% in the 3rd quarter. Hardy Reed LLC now owns 4,992 shares of the credit services provider’s stock valued at $2,465,000 after buying an additional 64 shares during the last quarter. BNP Paribas increased its stake in shares of Mastercard by 16.0% in the third quarter. BNP Paribas now owns 26,538 shares of the credit services provider’s stock valued at $13,104,000 after buying an additional 3,651 shares during the period. Finally, CreativeOne Wealth LLC raised its position in shares of Mastercard by 36.2% during the third quarter. CreativeOne Wealth LLC now owns 9,783 shares of the credit services provider’s stock worth $4,831,000 after acquiring an additional 2,601 shares during the last quarter. Institutional investors and hedge funds own 97.28% of the company’s stock.

Mastercard Trading Up 0.7 %

Shares of Mastercard stock opened at $549.13 on Thursday. 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 stock has a fifty day simple moving average of $549.58 and a 200 day simple moving average of $526.06. Mastercard Incorporated has a 12-month low of $428.86 and a 12-month high of $582.23. The company has a market capitalization of $500.64 billion, a P/E ratio of 39.53, a price-to-earnings-growth ratio of 2.37 and a beta of 1.10.

Mastercard (NYSE:MA) last announced its earnings results on Thursday, January 30th. The credit services provider reported $3.82 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%. On average, sell-side analysts anticipate that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Wednesday, April 9th will be paid a $0.76 dividend. The ex-dividend date is Wednesday, April 9th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.55%. Mastercard’s payout ratio is presently 21.89%.

Mastercard announced that its Board of Directors has approved a stock repurchase 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 reacquire up to 2.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Wells Fargo & Company upped their target price on Mastercard from $585.00 to $625.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Monness Crespi & Hardt raised shares of Mastercard from a “neutral” rating to a “buy” rating and set a $640.00 price objective on the stock in a research note on Friday, January 31st. Susquehanna lifted their target price on shares of Mastercard from $605.00 to $670.00 and gave the stock a “positive” rating in a research note on Friday, January 31st. Oppenheimer cut their price target on shares of Mastercard from $591.00 to $588.00 and set an “outperform” rating on the stock in a research report on Thursday, December 19th. Finally, Macquarie lifted their price objective on Mastercard from $565.00 to $645.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $606.11.

Insider Activity

In related news, insider Edward Grunde Mclaughlin sold 7,132 shares of the business’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $534.68, for a total value of $3,813,337.76. Following the transaction, the insider now directly owns 34,524 shares of the company’s stock, valued at approximately $18,459,292.32. The trade was a 17.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.10% of the stock is currently owned by corporate insiders.

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.