Huntington National Bank Has $27.84 Million Holdings in Mastercard Incorporated (NYSE:MA)

Huntington National Bank grew its position in Mastercard Incorporated (NYSE:MA) by 0.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 52,871 shares of the credit services provider’s stock after buying an additional 473 shares during the period. Huntington National Bank’s holdings in Mastercard were worth $27,840,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its holdings in shares of Mastercard by 4.8% during the third quarter. Principal Financial Group Inc. now owns 3,031,915 shares of the credit services provider’s stock valued at $1,497,160,000 after acquiring an additional 138,842 shares during the period. Paloma Partners Management Co lifted its holdings in Mastercard by 82.0% in the third quarter. Paloma Partners Management Co now owns 1,294 shares of the credit services provider’s stock valued at $639,000 after buying an additional 583 shares during the period. Garden State Investment Advisory Services LLC lifted its stake in shares of Mastercard by 5.0% in the 3rd quarter. Garden State Investment Advisory Services LLC now owns 655 shares of the credit services provider’s stock valued at $324,000 after purchasing an additional 31 shares during the period. Investment Management Corp of Ontario boosted its holdings in Mastercard by 54.4% during the third quarter. Investment Management Corp of Ontario now owns 71,802 shares of the credit services provider’s stock worth $35,456,000 after buying an additional 25,306 shares during the last quarter. Finally, Integrated Wealth Concepts LLC boosted its stake in Mastercard by 3.1% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 14,928 shares of the credit services provider’s stock worth $7,372,000 after acquiring an additional 442 shares during the last quarter. 97.28% of the stock is owned by institutional investors.

Insider Activity at Mastercard

In related news, insider Edward Grunde Mclaughlin sold 7,132 shares of Mastercard stock in a transaction that occurred on Wednesday, March 19th. The stock was 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 $18,459,292.32. The trade was a 17.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Miebach sold 15,775 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $550.16, for a total transaction of $8,678,774.00. Following the completion of the transaction, the chief executive officer now owns 84,871 shares in the company, valued at $46,692,629.36. This trade represents a 15.67 % decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

Mastercard Stock Up 0.0 %

NYSE MA opened at $548.16 on Wednesday. The company has a market cap of $499.76 billion, a price-to-earnings ratio of 39.46, 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 company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.68. The company has a 50 day moving average of $551.46 and a 200-day moving average of $527.98.

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 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%. On average, equities research analysts expect 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 program on Tuesday, December 17th that allows the company to buyback $12.00 billion in shares. This buyback authorization allows the credit services provider to purchase up to 2.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Mastercard Announces Dividend

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

Analyst Ratings Changes

Several research firms have weighed in on MA. Keefe, Bruyette & Woods lifted their target price on Mastercard from $618.00 to $665.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Raymond James restated an “outperform” rating and issued a $640.00 price target (up from $614.00) on shares of Mastercard in a report on Friday, January 31st. Barclays increased their price objective on Mastercard from $595.00 to $650.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Jefferies Financial Group boosted their target price on Mastercard from $590.00 to $610.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Wells Fargo & Company increased their price objective on shares of Mastercard from $585.00 to $625.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Mastercard presently has an average rating of “Moderate Buy” and a consensus price target of $606.11.

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.