Mastercard Incorporated (NYSE:MA) Shares Sold by Summit Global Investments

Summit Global Investments lessened its holdings in Mastercard Incorporated (NYSE:MA) by 22.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 18,116 shares of the credit services provider’s stock after selling 5,111 shares during the period. Summit Global Investments’ holdings in Mastercard were worth $9,540,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of MA. NewSquare Capital LLC acquired a new position in Mastercard in the 4th quarter worth approximately $26,000. Marshall Investment Management LLC acquired a new position in Mastercard in the 4th quarter worth approximately $30,000. Halbert Hargrove Global Advisors LLC acquired a new position in Mastercard in the 4th quarter worth approximately $32,000. Truvestments Capital LLC boosted its position in Mastercard by 62.5% in the 4th quarter. Truvestments Capital LLC now owns 65 shares of the credit services provider’s stock worth $34,000 after purchasing an additional 25 shares in the last quarter. Finally, FPC Investment Advisory Inc. boosted its position in Mastercard by 483.3% in the 4th quarter. FPC Investment Advisory Inc. now owns 70 shares of the credit services provider’s stock worth $39,000 after purchasing an additional 58 shares in the last quarter. Institutional investors and hedge funds own 97.28% of the company’s stock.

Insider Buying and Selling

In related news, insider Edward Grunde Mclaughlin sold 7,132 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $534.68, for a total transaction of $3,813,337.76. Following the completion of the sale, the insider now directly owns 34,524 shares of the company’s stock, valued at approximately $18,459,292.32. This trade represents a 17.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Raymond James restated an “outperform” rating and issued a $640.00 price objective (up previously from $614.00) on shares of Mastercard in a research report on Friday, January 31st. Tigress Financial restated a “strong-buy” rating on shares of Mastercard in a research report on Monday, March 10th. Seaport Res Ptn lowered Mastercard from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods upped their price objective on Mastercard from $618.00 to $665.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Finally, Citigroup upped their price objective on Mastercard from $584.00 to $650.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Mastercard presently has an average rating of “Moderate Buy” and a consensus price target of $606.11.

Mastercard Stock Down 0.2 %

Shares of MA opened at $535.14 on Friday. Mastercard Incorporated has a 52-week low of $428.86 and a 52-week high of $582.23. The company has a market capitalization of $487.89 billion, a PE ratio of 38.53, a price-to-earnings-growth ratio of 2.37 and a beta of 1.10. The stock has a fifty day simple moving average of $547.55 and a two-hundred day simple moving average of $524.36. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.68.

Mastercard (NYSE:MA) last issued its earnings results 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 return on equity of 188.47% and a net margin of 45.71%. As a group, equities analysts forecast that Mastercard Incorporated will post 15.91 EPS for the current year.

Mastercard declared that its Board of Directors has approved a share repurchase plan on Tuesday, December 17th that permits the company to buyback $12.00 billion in shares. This buyback authorization permits the credit services provider to repurchase up to 2.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Mastercard Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Wednesday, April 9th will be paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Wednesday, April 9th. Mastercard’s dividend payout ratio (DPR) is presently 21.89%.

Mastercard 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.