Magellan Asset Management Ltd Has $393.43 Million Holdings in Mastercard Incorporated (NYSE:MA)

Magellan Asset Management Ltd grew its position in shares of Mastercard Incorporated (NYSE:MA) by 10.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 747,164 shares of the credit services provider’s stock after purchasing an additional 69,457 shares during the quarter. Mastercard makes up about 4.3% of Magellan Asset Management Ltd’s investment portfolio, making the stock its 3rd largest position. Magellan Asset Management Ltd owned 0.08% of Mastercard worth $393,434,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Mastercard in the fourth quarter worth about $6,022,224,000. Raymond James Financial Inc. bought a new position in Mastercard during the 4th quarter worth approximately $837,017,000. Proficio Capital Partners LLC increased its stake in Mastercard by 79,739.7% in the 4th quarter. Proficio Capital Partners LLC now owns 1,555,277 shares of the credit services provider’s stock worth $818,962,000 after purchasing an additional 1,553,329 shares during the period. Wellington Management Group LLP lifted its position in Mastercard by 9.1% in the fourth quarter. Wellington Management Group LLP now owns 9,760,740 shares of the credit services provider’s stock valued at $5,139,713,000 after purchasing an additional 817,836 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Mastercard by 12.9% during the fourth quarter. American Century Companies Inc. now owns 5,079,915 shares of the credit services provider’s stock valued at $2,674,932,000 after purchasing an additional 581,697 shares during the period. 97.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Edward Grunde Mclaughlin sold 7,132 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $534.68, for a total transaction of $3,813,337.76. Following the completion of the transaction, the insider now owns 34,524 shares in the company, valued at approximately $18,459,292.32. This represents a 17.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Miebach sold 15,775 shares of Mastercard stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $550.16, for a total transaction of $8,678,774.00. Following the completion of the sale, the chief executive officer now owns 84,871 shares in the company, valued at approximately $46,692,629.36. This represents a 15.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Keefe, Bruyette & Woods upped their price target on shares of Mastercard from $618.00 to $665.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Macquarie upped their price objective on shares of Mastercard from $565.00 to $645.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. KeyCorp raised their target price on Mastercard from $600.00 to $630.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Raymond James reaffirmed an “outperform” rating and set a $640.00 price target (up previously from $614.00) on shares of Mastercard in a research report on Friday, January 31st. Finally, Wells Fargo & Company lifted their price objective on Mastercard from $585.00 to $625.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Four 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’s stock. According to data from MarketBeat, Mastercard presently has an average rating of “Moderate Buy” and a consensus target price of $606.11.

Mastercard Trading Down 0.2 %

Mastercard stock opened at $547.62 on Thursday. The company has a current ratio of 1.03, a quick 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 $582.23. The firm has a market capitalization of $499.27 billion, a price-to-earnings ratio of 39.43, a P/E/G ratio of 2.37 and a beta of 1.10. The firm has a 50 day moving average of $551.87 and a 200 day moving average of $528.12.

Mastercard (NYSE:MA) last announced its quarterly earnings data 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 net margin of 45.71% and a return on equity of 188.47%. As a group, research analysts predict that Mastercard Incorporated will post 15.91 earnings per share for the current year.

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

Mastercard Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Wednesday, April 9th will be issued a dividend of $0.76 per share. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $3.04 dividend on an annualized basis and a yield of 0.56%. Mastercard’s dividend payout ratio is presently 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.