Dale Q Rice Investment Management Ltd Takes $3.32 Million Position in Mastercard Incorporated (NYSE:MA)

Dale Q Rice Investment Management Ltd purchased a new position in Mastercard Incorporated (NYSE:MA) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 6,308 shares of the credit services provider’s stock, valued at approximately $3,322,000. Mastercard comprises about 1.5% of Dale Q Rice Investment Management Ltd’s holdings, making the stock its 15th biggest position.

Several other institutional investors also recently added to or reduced their stakes in MA. State Street Corp raised its stake in shares of Mastercard by 0.7% in the third quarter. State Street Corp now owns 35,288,912 shares of the credit services provider’s stock valued at $17,425,665,000 after buying an additional 257,312 shares during the period. FMR LLC increased its holdings in Mastercard by 3.4% in the 3rd quarter. FMR LLC now owns 21,355,081 shares of the credit services provider’s stock worth $10,545,139,000 after acquiring an additional 700,769 shares during the last quarter. Geode Capital Management LLC increased its holdings in Mastercard by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 18,375,053 shares of the credit services provider’s stock worth $9,043,972,000 after acquiring an additional 453,773 shares during the last quarter. International Assets Investment Management LLC boosted its position in Mastercard by 120,665.3% during the third quarter. International Assets Investment Management LLC now owns 8,041,758 shares of the credit services provider’s stock worth $3,971,020,000 after purchasing an additional 8,035,099 shares during the period. Finally, Franklin Resources Inc. increased its stake in shares of Mastercard by 4.2% in the third quarter. Franklin Resources Inc. now owns 7,501,814 shares of the credit services provider’s stock worth $3,800,836,000 after purchasing an additional 304,293 shares in the last quarter. Institutional investors own 97.28% of the company’s stock.

Mastercard Price Performance

Shares of Mastercard stock opened at $505.27 on Tuesday. The business’s 50-day moving average price is $524.08 and its 200-day moving average price is $492.75. The firm has a market capitalization of $463.75 billion, a PE ratio of 38.22, a price-to-earnings-growth ratio of 2.36 and a beta of 1.10. Mastercard Incorporated has a 12 month low of $425.48 and a 12 month high of $537.70. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 2.36.

Mastercard (NYSE:MA) last issued its quarterly earnings results on Thursday, October 31st. The credit services provider reported $3.89 EPS for the quarter, beating analysts’ consensus estimates of $3.73 by $0.16. The business had revenue of $7.37 billion for the quarter, compared to analysts’ expectations of $7.27 billion. Mastercard had a net margin of 45.26% and a return on equity of 178.27%. The business’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period last year, the business earned $3.39 earnings per share. Sell-side analysts forecast that Mastercard Incorporated will post 14.47 EPS for the current fiscal year.

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

Mastercard Increases Dividend

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 paid a $0.76 dividend. The ex-dividend date of this dividend is Friday, January 10th. This is an increase from Mastercard’s previous quarterly dividend of $0.66. This represents a $3.04 annualized dividend and a yield of 0.60%. Mastercard’s payout ratio is currently 23.00%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MA. Susquehanna upped their price target on shares of Mastercard from $540.00 to $605.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Piper Sandler restated an “overweight” rating and set a $575.00 target price (up previously from $565.00) on shares of Mastercard in a research report on Friday, November 15th. Jefferies Financial Group lifted their price target on Mastercard from $590.00 to $610.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Robert W. Baird increased their price objective on Mastercard from $545.00 to $575.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, Bank of America raised their target price on Mastercard from $480.00 to $509.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Three analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Mastercard presently has a consensus rating of “Moderate Buy” and an average price target of $566.13.

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.