Mastercard Incorporated (NYSE:MA) Shares Sold by Premier Fund Managers Ltd

Premier Fund Managers Ltd reduced its holdings in Mastercard Incorporated (NYSE:MA) by 1.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 27,767 shares of the credit services provider’s stock after selling 300 shares during the quarter. Premier Fund Managers Ltd’s holdings in Mastercard were worth $14,593,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Norges Bank acquired a new position in Mastercard during the fourth quarter worth about $6,022,224,000. Raymond James Financial Inc. acquired a new stake in shares of Mastercard in the 4th quarter worth approximately $837,017,000. Proficio Capital Partners LLC increased its stake in Mastercard by 79,739.7% in the 4th quarter. Proficio Capital Partners LLC now owns 1,555,277 shares of the credit services provider’s stock valued at $818,962,000 after purchasing an additional 1,553,329 shares in the last quarter. American Century Companies Inc. raised its holdings in Mastercard by 12.9% during the fourth quarter. American Century Companies Inc. now owns 5,079,915 shares of the credit services provider’s stock worth $2,674,932,000 after purchasing an additional 581,697 shares during the last quarter. Finally, Amundi boosted its position in Mastercard by 13.1% during the fourth quarter. Amundi now owns 4,899,438 shares of the credit services provider’s stock worth $2,532,541,000 after purchasing an additional 565,717 shares in the last quarter. 97.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Edward Grunde Mclaughlin sold 7,132 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 34,524 shares in the company, valued at $18,459,292.32. This trade represents a 17.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael Miebach sold 15,775 shares of the stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $550.16, for a total value of $8,678,774.00. Following the transaction, the chief executive officer now directly owns 84,871 shares of the company’s stock, valued at approximately $46,692,629.36. The trade was a 15.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.

Mastercard Trading Up 1.6 %

Shares of NYSE MA opened at $557.64 on Friday. The stock has a market capitalization of $508.40 billion, a P/E ratio of 40.15, a PEG ratio of 2.37 and a beta of 1.10. The stock’s 50 day moving average price is $550.27 and its two-hundred day moving average price is $526.28. The company has a quick ratio of 1.03, 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 $582.23.

Mastercard (NYSE:MA) last announced its quarterly earnings data on Thursday, January 30th. The credit services provider reported $3.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.71 by $0.11. Mastercard had a return on equity of 188.47% and a net margin of 45.71%. On average, analysts anticipate that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

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

Mastercard Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Susquehanna lifted their price target on Mastercard from $605.00 to $670.00 and gave the stock a “positive” rating in a research note on Friday, January 31st. Jefferies Financial Group upped their price target on shares of Mastercard from $590.00 to $610.00 and gave the company a “buy” rating in a report on Monday, December 9th. Piper Sandler reissued an “overweight” rating and set a $635.00 price objective (up from $591.00) on shares of Mastercard in a research note on Friday, January 31st. Tigress Financial reiterated a “strong-buy” rating on shares of Mastercard in a report on Monday, March 10th. Finally, Seaport Res Ptn cut Mastercard from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Four investment 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. According to data from MarketBeat, Mastercard presently has an average rating of “Moderate Buy” and a consensus target price 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.