Centric Wealth Management Sells 3,999 Shares of Mastercard Incorporated (NYSE:MA)

Centric Wealth Management lowered its stake in Mastercard Incorporated (NYSE:MA) by 37.6% in the 4th quarter, HoldingsChannel reports. The fund owned 6,632 shares of the credit services provider’s stock after selling 3,999 shares during the period. Mastercard accounts for approximately 0.9% of Centric Wealth Management’s holdings, making the stock its 23rd largest holding. Centric Wealth Management’s holdings in Mastercard were worth $3,492,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Addison Advisors LLC lifted its stake in shares of Mastercard by 3.8% in the 4th quarter. Addison Advisors LLC now owns 493 shares of the credit services provider’s stock valued at $260,000 after purchasing an additional 18 shares during the last quarter. Capital Investment Advisory Services LLC raised its holdings in Mastercard by 0.6% in the 4th quarter. Capital Investment Advisory Services LLC now owns 3,135 shares of the credit services provider’s stock valued at $1,651,000 after buying an additional 19 shares during the period. Capital Investment Services of America Inc. lifted its position in Mastercard by 4.2% in the fourth quarter. Capital Investment Services of America Inc. now owns 475 shares of the credit services provider’s stock valued at $250,000 after buying an additional 19 shares during the last quarter. Augustine Asset Management Inc. boosted its stake in Mastercard by 1.1% during the fourth quarter. Augustine Asset Management Inc. now owns 1,797 shares of the credit services provider’s stock worth $946,000 after buying an additional 19 shares during the period. Finally, Richard W. Paul & Associates LLC increased its position in shares of Mastercard by 0.9% during the fourth quarter. Richard W. Paul & Associates LLC now owns 2,245 shares of the credit services provider’s stock valued at $1,182,000 after acquiring an additional 19 shares during the last quarter. 97.28% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on MA. William Blair reaffirmed an “outperform” rating on shares of Mastercard in a research report on Friday, January 31st. Keefe, Bruyette & Woods lifted their price objective on Mastercard from $618.00 to $665.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Citigroup raised their target price on Mastercard from $584.00 to $650.00 and gave the company a “buy” rating in a report on Friday, January 31st. Barclays boosted their price target on shares of Mastercard from $595.00 to $650.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Seaport Res Ptn cut shares of Mastercard from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Four 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 stock. According to MarketBeat.com, Mastercard currently has an average rating of “Moderate Buy” and a consensus target price of $606.11.

Insider Activity at Mastercard

In related news, CEO Michael Miebach sold 15,775 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 84,871 shares of the company’s stock, valued at approximately $46,692,629.36. This represents a 15.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Edward Grunde Mclaughlin sold 7,132 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $534.68, for a total transaction 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. This trade represents a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

Mastercard Stock Performance

Shares of MA stock opened at $548.66 on Tuesday. The firm has a market cap of $500.22 billion, a price-to-earnings ratio of 39.50, a PEG 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 stock’s 50-day moving average is $551.05 and its two-hundred day moving average is $527.59. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.03 and a current ratio of 1.03.

Mastercard (NYSE:MA) last announced its earnings results on Thursday, January 30th. The credit services provider reported $3.82 EPS for the quarter, beating 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%. Analysts predict that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Announces Dividend

The company 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. This represents a $3.04 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Wednesday, April 9th. Mastercard’s dividend payout ratio (DPR) is presently 21.89%.

Mastercard announced that its board has approved a share repurchase plan on Tuesday, December 17th that authorizes the company to buyback $12.00 billion in outstanding shares. This buyback authorization authorizes the credit services provider to buy up to 2.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Mastercard Company 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.