Kornitzer Capital Management Inc. KS Has $11.60 Million Holdings in Mastercard Incorporated (NYSE:MA)

Kornitzer Capital Management Inc. KS raised its stake in Mastercard Incorporated (NYSE:MA) by 4.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,028 shares of the credit services provider’s stock after purchasing an additional 841 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Mastercard were worth $11,599,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC raised its holdings in Mastercard by 120,665.3% in the 3rd quarter. International Assets Investment Management LLC now owns 8,041,758 shares of the credit services provider’s stock valued at $3,971,020,000 after acquiring an additional 8,035,099 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Mastercard by 51.7% in the third quarter. Bank of Montreal Can now owns 5,765,714 shares of the credit services provider’s stock valued at $2,846,187,000 after purchasing an additional 1,965,782 shares in the last quarter. FMR LLC lifted its position in Mastercard by 3.4% in the third quarter. FMR LLC now owns 21,355,081 shares of the credit services provider’s stock worth $10,545,139,000 after purchasing an additional 700,769 shares during the period. Geode Capital Management LLC boosted its stake in Mastercard by 2.5% during the third quarter. Geode Capital Management LLC now owns 18,375,053 shares of the credit services provider’s stock worth $9,043,972,000 after buying an additional 453,773 shares in the last quarter. Finally, Montrusco Bolton Investments Inc. increased its holdings in Mastercard by 52.8% in the 3rd quarter. Montrusco Bolton Investments Inc. now owns 1,185,081 shares of the credit services provider’s stock valued at $573,017,000 after buying an additional 409,334 shares during the period. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Barclays raised their price objective on shares of Mastercard from $595.00 to $650.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. TD Cowen lifted their price objective on Mastercard from $533.00 to $567.00 and gave the company a “buy” rating in a report on Friday, November 15th. Seaport Res Ptn cut Mastercard from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Citigroup boosted their price target on Mastercard from $584.00 to $650.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Finally, Monness Crespi & Hardt upgraded Mastercard from a “neutral” rating to a “buy” rating and set a $640.00 price objective for the company in a research note on Friday, January 31st. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Mastercard currently has an average rating of “Moderate Buy” and a consensus price target of $606.11.

Mastercard Stock Down 0.3 %

Shares of Mastercard stock opened at $564.77 on Tuesday. The business has a fifty day simple moving average of $535.49 and a 200 day simple moving average of $510.30. The stock has a market cap of $518.36 billion, a PE ratio of 40.66, a price-to-earnings-growth ratio of 2.37 and a beta of 1.10. The company has a quick ratio of 1.29, a current ratio of 1.03 and a debt-to-equity ratio of 2.68. Mastercard Incorporated has a 12 month low of $428.86 and a 12 month high of $576.94.

Mastercard (NYSE:MA) last announced its quarterly 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 return on equity of 188.47% and a net margin of 45.71%. Research analysts predict that Mastercard Incorporated will post 15.98 EPS for the current year.

Mastercard declared that its board has initiated a share repurchase plan on Tuesday, December 17th that allows the company to repurchase $12.00 billion in shares. This repurchase authorization allows the credit services provider to purchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Mastercard Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Wednesday, April 9th will be given a dividend of $0.76 per share. The ex-dividend date is Wednesday, April 9th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.54%. Mastercard’s dividend payout ratio is 21.89%.

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.