Mastercard Incorporated (NYSE:MA) Stock Position Cut by Progressive Investment Management Corp

Progressive Investment Management Corp trimmed its stake in shares of Mastercard Incorporated (NYSE:MA) by 2.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,021 shares of the credit services provider’s stock after selling 500 shares during the quarter. Mastercard comprises 2.6% of Progressive Investment Management Corp’s holdings, making the stock its 16th biggest position. Progressive Investment Management Corp’s holdings in Mastercard were worth $10,016,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in MA. NewSquare Capital LLC bought a new position in Mastercard during the 4th quarter valued at $26,000. Marshall Investment Management LLC bought a new stake in Mastercard in the fourth quarter worth about $30,000. Halbert Hargrove Global Advisors LLC acquired a new stake in Mastercard in the 4th quarter valued at about $32,000. Truvestments Capital LLC grew its stake in shares of 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 during the last quarter. Finally, CoreFirst Bank & Trust bought a new stake in shares of Mastercard in the 4th quarter worth approximately $37,000. 97.28% of the stock is owned by institutional investors and hedge funds.

Mastercard Trading Down 3.0 %

Shares of NYSE:MA opened at $540.57 on Friday. Mastercard Incorporated has a 1 year low of $428.86 and a 1 year high of $582.23. The firm has a fifty day moving average price of $550.58 and a 200 day moving average price of $526.65. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.68. The stock has a market capitalization of $492.84 billion, a PE ratio of 38.92, a P/E/G ratio of 2.37 and a beta of 1.10.

Mastercard (NYSE:MA) last released its quarterly earnings results on Thursday, January 30th. The credit services provider reported $3.82 earnings per share (EPS) for the quarter, topping 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%. Analysts expect that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Mastercard declared that its Board of Directors has approved a share buyback plan on Tuesday, December 17th that authorizes the company to buyback $12.00 billion in shares. This buyback authorization authorizes the credit services provider to reacquire up to 2.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board 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 $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date is Wednesday, April 9th. Mastercard’s dividend payout ratio is 21.89%.

Insider Transactions at Mastercard

In other Mastercard news, CEO Michael Miebach sold 15,775 shares of Mastercard stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $550.16, for a total value of $8,678,774.00. Following the transaction, the chief executive officer now directly owns 84,871 shares of the company’s stock, valued at $46,692,629.36. The trade was a 15.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Edward Grunde Mclaughlin sold 7,132 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $534.68, for a total value 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 $18,459,292.32. This represents a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MA. DZ Bank upgraded shares of Mastercard from a “hold” rating to a “buy” rating and set a $620.00 target price for the company in a report on Tuesday, February 4th. William Blair reaffirmed an “outperform” rating on shares of Mastercard in a research report on Friday, January 31st. Citigroup lifted their price target on Mastercard from $584.00 to $650.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Susquehanna upped their price objective on shares of Mastercard from $605.00 to $670.00 and gave the company a “positive” rating in a research note on Friday, January 31st. Finally, Monness Crespi & Hardt upgraded shares of Mastercard from a “neutral” rating to a “buy” rating and set a $640.00 price target on the stock in a report on Friday, January 31st. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Mastercard has a consensus rating of “Moderate Buy” and an average price target of $606.11.

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.