Cullinan Associates Inc. raised its holdings in shares of Mastercard Inc (NYSE:MA) by 10.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,710 shares of the credit services provider’s stock after acquiring an additional 435 shares during the quarter. Cullinan Associates Inc.’s holdings in Mastercard were worth $1,406,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of MA. Nuveen Asset Management LLC grew its stake in shares of Mastercard by 2,608.7% in the second quarter. Nuveen Asset Management LLC now owns 9,177,186 shares of the credit services provider’s stock valued at $2,427,641,000 after buying an additional 8,838,385 shares in the last quarter. Johanson Financial Advisors Inc. grew its stake in shares of Mastercard by 29,736.5% in the fourth quarter. Johanson Financial Advisors Inc. now owns 5,985,794 shares of the credit services provider’s stock valued at $20,043,000 after buying an additional 5,965,732 shares in the last quarter. Morgan Stanley grew its stake in shares of Mastercard by 4.8% in the second quarter. Morgan Stanley now owns 13,929,653 shares of the credit services provider’s stock valued at $3,684,811,000 after buying an additional 640,063 shares in the last quarter. Nomura Holdings Inc. grew its stake in shares of Mastercard by 957.5% in the third quarter. Nomura Holdings Inc. now owns 521,174 shares of the credit services provider’s stock valued at $141,230,000 after buying an additional 581,955 shares in the last quarter. Finally, Rothschild & Co Wealth Management UK Ltd bought a new position in shares of Mastercard in the second quarter valued at $133,846,000. 73.84% of the stock is owned by institutional investors.
In other news, major shareholder Foundation Mastercard sold 7,542 shares of Mastercard stock in a transaction on Monday, October 21st. The stock was sold at an average price of $271.96, for a total transaction of $2,051,122.32. Following the completion of the sale, the insider now owns 111,992,604 shares of the company’s stock, valued at $30,457,508,583.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Edward Grunde Mclaughlin sold 28,526 shares of Mastercard stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $302.16, for a total value of $8,619,416.16. Following the sale, the insider now directly owns 43,215 shares of the company’s stock, valued at approximately $13,057,844.40. The disclosure for this sale can be found here. Insiders have sold a total of 121,566 shares of company stock valued at $34,539,929 in the last ninety days. Insiders own 3.70% of the company’s stock.
Mastercard (NYSE:MA) last announced its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.14. Mastercard had a return on equity of 146.92% and a net margin of 42.50%. The business had revenue of $4.47 billion during the quarter, compared to the consensus estimate of $4.41 billion. During the same quarter last year, the firm posted $1.78 EPS. The company’s quarterly revenue was up 14.6% on a year-over-year basis. As a group, equities analysts anticipate that Mastercard Inc will post 7.69 earnings per share for the current fiscal year.
Mastercard announced that its board has authorized a share buyback program on Tuesday, December 3rd that permits the company to buyback $8.00 billion in shares. This buyback authorization permits the credit services provider to reacquire up to 2.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Thursday, January 9th will be issued a dividend of $0.40 per share. This is an increase from Mastercard’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $1.60 annualized dividend and a yield of 0.51%. Mastercard’s dividend payout ratio (DPR) is currently 24.65%.
Several equities analysts recently weighed in on the stock. Moffett Nathanson raised their target price on shares of Mastercard from to and gave the company a “buy” rating in a research note on Tuesday, January 7th. Tigress Financial reissued a “buy” rating on shares of Mastercard in a research note on Monday, December 23rd. ValuEngine cut shares of Mastercard from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Nomura raised their target price on shares of Mastercard from $324.00 to $354.00 and gave the company a “buy” rating in a research note on Monday. Finally, SunTrust Banks raised their target price on shares of Mastercard from $325.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Mastercard has an average rating of “Buy” and a consensus price target of $313.73.
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.
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