Sowell Financial Services LLC Invests $209,000 in Mastercard Inc (MA) Stock

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Sowell Financial Services LLC purchased a new position in Mastercard Inc (NYSE:MA) during the third quarter, HoldingsChannel.com reports. The firm purchased 938 shares of the credit services provider’s stock, valued at approximately $209,000.

A number of other institutional investors and hedge funds also recently modified their holdings of MA. BlackRock Inc. grew its stake in Mastercard by 0.7% during the 2nd quarter. BlackRock Inc. now owns 65,030,203 shares of the credit services provider’s stock valued at $12,779,736,000 after acquiring an additional 452,200 shares in the last quarter. FMR LLC grew its stake in Mastercard by 6.0% during the 2nd quarter. FMR LLC now owns 39,120,141 shares of the credit services provider’s stock valued at $7,687,891,000 after acquiring an additional 2,229,947 shares in the last quarter. Jennison Associates LLC grew its stake in Mastercard by 4.8% during the 3rd quarter. Jennison Associates LLC now owns 15,023,688 shares of the credit services provider’s stock valued at $3,344,423,000 after acquiring an additional 693,667 shares in the last quarter. Bank of America Corp DE grew its stake in Mastercard by 4.6% during the 2nd quarter. Bank of America Corp DE now owns 6,150,557 shares of the credit services provider’s stock valued at $1,208,709,000 after acquiring an additional 269,298 shares in the last quarter. Finally, Baillie Gifford & Co. grew its stake in Mastercard by 0.7% during the 3rd quarter. Baillie Gifford & Co. now owns 5,678,766 shares of the credit services provider’s stock valued at $1,264,150,000 after acquiring an additional 38,624 shares in the last quarter. 74.84% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Richard K. Davis bought 2,475 shares of Mastercard stock in a transaction that occurred on Friday, November 2nd. The stock was purchased at an average cost of $196.37 per share, for a total transaction of $486,015.75. Following the acquisition, the director now owns 3,468 shares in the company, valued at $681,011.16. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.32% of the stock is currently owned by insiders.

Several equities research analysts have recently issued reports on MA shares. Wells Fargo & Co lifted their price target on Mastercard from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Monday, October 1st. Zacks Investment Research lowered Mastercard from a “buy” rating to a “hold” rating in a report on Tuesday, November 20th. Goldman Sachs Group upgraded Mastercard from a “buy” rating to a “conviction-buy” rating in a report on Monday, September 17th. BMO Capital Markets started coverage on Mastercard in a report on Wednesday, September 26th. They set an “outperform” rating and a $238.00 price target for the company. Finally, Barclays started coverage on Mastercard in a report on Wednesday, November 14th. They set an “overweight” rating and a $240.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $221.28.

MA opened at $196.50 on Friday. Mastercard Inc has a twelve month low of $149.17 and a twelve month high of $225.35. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.55 and a quick ratio of 1.55. The company has a market capitalization of $209.65 billion, a P/E ratio of 42.90, a P/E/G ratio of 1.74 and a beta of 1.21.

Mastercard (NYSE:MA) last posted its earnings results on Tuesday, October 30th. The credit services provider reported $1.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.10. Mastercard had a return on equity of 114.58% and a net margin of 35.88%. The firm had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.86 billion. During the same period in the previous year, the company earned $1.34 EPS. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. Equities analysts expect that Mastercard Inc will post 6.43 earnings per share for the current year.

Mastercard declared that its Board of Directors has approved a share repurchase program on Tuesday, December 4th that allows the company to buyback $6.50 million in shares. This buyback authorization allows the credit services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Friday, February 8th. Investors of record on Wednesday, January 9th will be issued a $0.33 dividend. This is a positive change from Mastercard’s previous quarterly dividend of $0.25. This represents a $1.32 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Tuesday, January 8th. Mastercard’s payout ratio is 21.83%.

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Mastercard Company Profile

Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers related products and services.

Featured Article: Stock Symbols and CUSIP Explained

Want to see what other hedge funds are holding MA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mastercard Inc (NYSE:MA).

Institutional Ownership by Quarter for Mastercard (NYSE:MA)

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