CIBC Asset Management Inc Has $66.49 Million Stake in Mastercard Incorporated (NYSE:MA)

CIBC Asset Management Inc raised its position in Mastercard Incorporated (NYSE:MA) by 6.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 134,651 shares of the credit services provider’s stock after purchasing an additional 8,574 shares during the quarter. CIBC Asset Management Inc’s holdings in Mastercard were worth $66,491,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MA. Sarasin & Partners LLP grew its position in shares of Mastercard by 4.7% during the 3rd quarter. Sarasin & Partners LLP now owns 831,942 shares of the credit services provider’s stock worth $410,813,000 after buying an additional 37,486 shares during the period. Principal Financial Group Inc. raised its stake in shares of Mastercard by 4.8% in the third quarter. Principal Financial Group Inc. now owns 3,031,915 shares of the credit services provider’s stock worth $1,497,160,000 after purchasing an additional 138,842 shares during the last quarter. Coppell Advisory Solutions Corp. purchased a new stake in Mastercard in the 1st quarter valued at $608,000. SteelPeak Wealth LLC lifted its position in shares of Mastercard by 48.6% during the second quarter. SteelPeak Wealth LLC now owns 4,928 shares of the credit services provider’s stock valued at $2,174,000 after purchasing an additional 1,612 shares in the last quarter. Finally, OMC Financial Services LTD bought a new position in shares of Mastercard during the 1st quarter worth approximately $17,854,000. Institutional investors and hedge funds own 97.28% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on MA. Oppenheimer initiated coverage on shares of Mastercard in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $591.00 price objective on the stock. Susquehanna increased their price objective on Mastercard from $540.00 to $605.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Barclays raised their price target on shares of Mastercard from $536.00 to $576.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. cut their price objective on Mastercard from $593.00 to $580.00 and set an “overweight” rating for the company in a report on Friday, November 1st. Finally, Mizuho increased their target price on Mastercard from $496.00 to $532.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Four research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $547.80.

Insiders Place Their Bets

In other news, CMO Venkata R. Madabhushi sold 4,685 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $493.10, for a total value of $2,310,173.50. Following the transaction, the chief marketing officer now owns 17,118 shares in the company, valued at $8,440,885.80. This represents a 21.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Foundation Mastercard sold 109,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $467.45, for a total transaction of $50,952,050.00. Following the sale, the insider now owns 91,924,308 shares of the company’s stock, valued at $42,970,017,774.60. This trade represents a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 208,370 shares of company stock valued at $97,749,218. Insiders own 0.10% of the company’s stock.

Mastercard Stock Down 0.3 %

Shares of Mastercard stock opened at $520.40 on Friday. Mastercard Incorporated has a 12-month low of $394.76 and a 12-month high of $534.03. The company has a market cap of $477.64 billion, a P/E ratio of 39.36, a PEG ratio of 2.28 and a beta of 1.10. The company’s fifty day simple moving average is $502.32 and its two-hundred day simple moving average is $470.24. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 2.36.

Mastercard (NYSE:MA) last released its earnings results on Thursday, October 31st. The credit services provider reported $3.89 earnings per share for the quarter, topping analysts’ consensus estimates of $3.73 by $0.16. Mastercard had a net margin of 45.26% and a return on equity of 178.27%. The firm had revenue of $7.37 billion for the quarter, compared to the consensus estimate of $7.27 billion. During the same period in the prior year, the firm earned $3.39 EPS. The company’s revenue was up 12.8% compared to the same quarter last year. Research analysts anticipate that Mastercard Incorporated will post 14.45 EPS for the current year.

Mastercard Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th were issued a dividend of $0.66 per share. The ex-dividend date was Wednesday, October 9th. This represents a $2.64 annualized dividend and a dividend yield of 0.51%. Mastercard’s payout ratio is presently 19.97%.

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.