RNC Capital Management LLC Decreases Stock Holdings in Mastercard Incorporated (NYSE:MA)

RNC Capital Management LLC reduced its stake in shares of Mastercard Incorporated (NYSE:MA) by 9.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 445 shares of the credit services provider’s stock after selling 45 shares during the quarter. RNC Capital Management LLC’s holdings in Mastercard were worth $235,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Strategic Financial Concepts LLC acquired a new position in Mastercard in the fourth quarter valued at $30,368,000. Leo Wealth LLC increased its stake in Mastercard by 18.0% in the fourth quarter. Leo Wealth LLC now owns 8,285 shares of the credit services provider’s stock valued at $4,362,000 after purchasing an additional 1,266 shares during the period. 1900 Wealth Management LLC increased its stake in shares of Mastercard by 11.2% during the fourth quarter. 1900 Wealth Management LLC now owns 588 shares of the credit services provider’s stock worth $310,000 after acquiring an additional 59 shares during the period. Consolidated Portfolio Review Corp increased its stake in shares of Mastercard by 6.5% during the fourth quarter. Consolidated Portfolio Review Corp now owns 1,457 shares of the credit services provider’s stock worth $767,000 after acquiring an additional 89 shares during the period. Finally, Oakworth Capital Inc. increased its stake in shares of Mastercard by 5.6% during the fourth quarter. Oakworth Capital Inc. now owns 2,327 shares of the credit services provider’s stock worth $1,225,000 after acquiring an additional 124 shares during the period. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Mastercard Stock Performance

NYSE:MA opened at $562.55 on Friday. The firm has a 50 day simple moving average of $531.02 and a 200-day simple moving average of $504.29. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.03 and a quick ratio of 1.29. The firm has a market cap of $516.33 billion, a PE ratio of 40.50, a P/E/G ratio of 2.23 and a beta of 1.10. Mastercard Incorporated has a 1-year low of $428.86 and a 1-year high of $576.94.

Mastercard (NYSE:MA) last posted its quarterly earnings data on Thursday, January 30th. The credit services provider reported $3.82 earnings per share for the quarter, beating 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, equities analysts expect that Mastercard Incorporated will post 16.04 EPS for the current year.

Mastercard declared that its Board of Directors has approved a stock 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 board believes its stock is undervalued.

Mastercard Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Thursday, January 9th were given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend was Friday, January 10th. This is a positive change from Mastercard’s previous quarterly dividend of $0.66. Mastercard’s payout ratio is currently 21.89%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Piper Sandler reiterated an “overweight” rating and set a $635.00 price target (up from $591.00) on shares of Mastercard in a research note on Friday, January 31st. UBS Group boosted their price target on shares of Mastercard from $600.00 to $660.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Citigroup boosted their price target on shares of Mastercard from $584.00 to $650.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods boosted their price target on shares of Mastercard from $618.00 to $665.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Finally, Morgan Stanley dropped their price target on shares of Mastercard from $654.00 to $644.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Four investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $603.08.

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.