Hidden Cove Wealth Management LLC Takes Position in Mastercard Incorporated (NYSE:MA)

Hidden Cove Wealth Management LLC bought a new position in Mastercard Incorporated (NYSE:MA) in the fourth quarter, Holdings Channel reports. The institutional investor bought 481 shares of the credit services provider’s stock, valued at approximately $253,000.

Several other hedge funds and other institutional investors have also bought and sold shares of MA. Highline Wealth Partners LLC bought a new position in shares of Mastercard during the third quarter valued at about $25,000. First Personal Financial Services purchased a new stake in Mastercard during the 3rd quarter valued at about $39,000. Legacy Investment Solutions LLC bought a new position in Mastercard during the 3rd quarter worth approximately $55,000. Lowe Wealth Advisors LLC increased its stake in Mastercard by 24.1% in the 4th quarter. Lowe Wealth Advisors LLC now owns 108 shares of the credit services provider’s stock worth $57,000 after purchasing an additional 21 shares during the period. Finally, FSA Wealth Management LLC bought a new stake in Mastercard in the third quarter valued at approximately $54,000. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Monness Crespi & Hardt upgraded shares of Mastercard from a “neutral” rating to a “buy” rating and set a $640.00 target price on the stock in a report on Friday, January 31st. Deutsche Bank Aktiengesellschaft raised their price target on shares of Mastercard from $510.00 to $580.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Royal Bank of Canada upped their price objective on shares of Mastercard from $572.00 to $650.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Morgan Stanley reduced their target price on Mastercard from $654.00 to $644.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Finally, Raymond James reaffirmed an “outperform” rating and issued a $640.00 price target (up previously 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 given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $603.08.

Mastercard Stock Performance

Shares of Mastercard stock opened at $564.33 on Thursday. Mastercard Incorporated has a 1 year low of $428.86 and a 1 year high of $576.94. The firm’s 50-day moving average is $533.07 and its 200 day moving average is $507.89. The stock has a market cap of $517.96 billion, a price-to-earnings ratio of 40.63, a PEG ratio of 2.37 and a beta of 1.10. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.03 and a quick ratio of 1.29.

Mastercard (NYSE:MA) last issued its 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 net margin of 45.71% and a return on equity of 188.47%. Sell-side analysts anticipate that Mastercard Incorporated will post 15.98 EPS for the current fiscal year.

Mastercard Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Wednesday, April 9th will be paid a dividend of $0.76 per share. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $3.04 annualized dividend and a yield of 0.54%. Mastercard’s dividend payout ratio is 21.89%.

Mastercard declared that its board has authorized a stock buyback program on Tuesday, December 17th that allows the company to repurchase $12.00 billion in shares. This repurchase authorization allows the credit services provider to buy up to 2.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

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.