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

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

Other institutional investors have also modified their holdings of the company. Bank of Montreal Can grew its position in shares of Mastercard by 51.7% during the third quarter. Bank of Montreal Can now owns 5,765,714 shares of the credit services provider’s stock worth $2,846,187,000 after acquiring an additional 1,965,782 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Mastercard during the 4th quarter valued at about $837,017,000. Proficio Capital Partners LLC grew its position 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 last quarter. FMR LLC increased its stake in shares of Mastercard by 3.4% in the third quarter. FMR LLC now owns 21,355,081 shares of the credit services provider’s stock valued at $10,545,139,000 after purchasing an additional 700,769 shares during the period. Finally, American Century Companies Inc. raised its holdings 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 buying an additional 581,697 shares during the last quarter. Institutional investors own 97.28% of the company’s stock.

Mastercard Trading Up 1.5 %

NYSE:MA opened at $543.82 on Tuesday. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market capitalization 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 Incorporated has a 52 week low of $428.86 and a 52 week high of $582.23. The stock’s 50 day moving average price is $548.32 and its 200 day moving average price is $525.42.

Mastercard (NYSE:MA) last issued 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%. On average, research analysts forecast that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Mastercard declared that its board has initiated a stock repurchase program on Tuesday, December 17th that authorizes the company to buyback $12.00 billion in outstanding shares. This buyback authorization authorizes the credit services provider to reacquire up to 2.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Mastercard Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders 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 0.56%. The ex-dividend date of this dividend is Wednesday, April 9th. Mastercard’s payout ratio is 21.89%.

Insider Buying and Selling

In other news, insider Edward Grunde Mclaughlin sold 7,132 shares of the firm’s stock in a transaction 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 sale, the insider now owns 34,524 shares in the company, valued at approximately $18,459,292.32. This trade represents a 17.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. KeyCorp raised 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 boosted their price target on shares of Mastercard from $590.00 to $610.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. DZ Bank upgraded shares of Mastercard from a “hold” rating to a “buy” rating and set a $620.00 price objective for the company in a report on Tuesday, February 4th. Citigroup boosted their target price on Mastercard from $584.00 to $650.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Finally, Raymond James reaffirmed an “outperform” rating and set a $640.00 price target (up from $614.00) on shares of Mastercard in a research note 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $606.11.

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.