Mastercard Incorporated (NYSE:MA) Shares Bought by Prestige Wealth Management Group LLC

Prestige Wealth Management Group LLC lifted its holdings in shares of Mastercard Incorporated (NYSE:MA) by 8.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,590 shares of the credit services provider’s stock after purchasing an additional 209 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Mastercard were worth $1,364,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Temasek Holdings Private Ltd boosted its position in shares of Mastercard by 2.3% during the 3rd quarter. Temasek Holdings Private Ltd now owns 2,805,554 shares of the credit services provider’s stock worth $1,385,383,000 after acquiring an additional 62,891 shares in the last quarter. Cardano Risk Management B.V. boosted its holdings in Mastercard by 2.7% in the fourth quarter. Cardano Risk Management B.V. now owns 368,690 shares of the credit services provider’s stock valued at $194,141,000 after purchasing an additional 9,611 shares in the last quarter. Dock Street Asset Management Inc. increased its stake in Mastercard by 4.5% in the fourth quarter. Dock Street Asset Management Inc. now owns 68,237 shares of the credit services provider’s stock valued at $35,932,000 after purchasing an additional 2,931 shares during the last quarter. Nordea Investment Management AB raised its holdings in Mastercard by 15.6% during the fourth quarter. Nordea Investment Management AB now owns 2,510,756 shares of the credit services provider’s stock worth $1,325,353,000 after purchasing an additional 337,905 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Mastercard by 4.8% during the 3rd quarter. Principal Financial Group Inc. now owns 3,031,915 shares of the credit services provider’s stock worth $1,497,160,000 after buying an additional 138,842 shares during the last quarter. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Mastercard Price Performance

MA opened at $543.82 on Tuesday. The company has a 50 day moving average of $548.32 and a two-hundred day moving average of $525.42. Mastercard Incorporated has a 52-week low of $428.86 and a 52-week high of $582.23. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.68. The company has a market cap of $495.81 billion, a P/E ratio of 39.15, a P/E/G ratio of 2.37 and a beta of 1.10.

Mastercard (NYSE:MA) last announced its quarterly earnings results on Thursday, January 30th. The credit services provider reported $3.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.71 by $0.11. Mastercard had a return on equity of 188.47% and a net margin of 45.71%. On average, analysts expect that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Wednesday, April 9th will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Wednesday, April 9th. Mastercard’s dividend payout ratio (DPR) is presently 21.89%.

Mastercard announced that its board has authorized a share repurchase program on Tuesday, December 17th that authorizes the company to buyback $12.00 billion in shares. This buyback authorization authorizes the credit services provider to buy up to 2.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

MA has been the topic of a number of recent analyst reports. Royal Bank of Canada increased their target price on shares of Mastercard from $572.00 to $650.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Wells Fargo & Company lifted their target price on Mastercard from $585.00 to $625.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. KeyCorp upped their target price on Mastercard from $600.00 to $630.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Jefferies Financial Group lifted their price target on Mastercard from $590.00 to $610.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Keefe, Bruyette & Woods increased their price objective on Mastercard from $618.00 to $665.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Four research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $606.11.

Insiders Place Their Bets

In other Mastercard news, insider Edward Grunde Mclaughlin sold 7,132 shares of the firm’s stock in a transaction that occurred on 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 owns 34,524 shares in the company, valued at $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 is available through the SEC website. 0.10% of the stock is owned by company insiders.

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.