Forte Capital LLC ADV Cuts Stake in Mastercard Incorporated (NYSE:MA)

Forte Capital LLC ADV lowered its holdings in shares of Mastercard Incorporated (NYSE:MA) by 2.3% during the fourth quarter, Holdings Channel reports. The firm owned 45,080 shares of the credit services provider’s stock after selling 1,043 shares during the period. Mastercard accounts for about 2.7% of Forte Capital LLC ADV’s portfolio, making the stock its 8th largest position. Forte Capital LLC ADV’s holdings in Mastercard were worth $23,738,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Highline Wealth Partners LLC bought a new position in shares of Mastercard during the 3rd quarter valued at $25,000. First Personal Financial Services bought a new position in shares of Mastercard during the 3rd quarter valued at $39,000. Legacy Investment Solutions LLC acquired a new position in Mastercard in the 3rd quarter valued at $55,000. Lowe Wealth Advisors LLC grew 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 valued at $57,000 after buying an additional 21 shares during the last quarter. Finally, FSA Wealth Management LLC acquired a new position in Mastercard in the 3rd quarter valued at $54,000. Institutional investors own 97.28% of the company’s stock.

Mastercard Trading Down 0.9 %

Shares of NYSE MA opened at $563.61 on Friday. Mastercard Incorporated has a 1-year low of $428.86 and a 1-year high of $576.94. The company has a market cap of $517.30 billion, a PE ratio of 40.58, a P/E/G ratio of 2.39 and a beta of 1.10. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.68. The company has a 50-day moving average of $538.41 and a two-hundred day moving average of $512.53.

Mastercard (NYSE:MA) last issued its quarterly earnings results on Thursday, January 30th. The credit services provider reported $3.82 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%. As a group, equities analysts expect that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

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

Mastercard Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Keefe, Bruyette & Woods raised their target price on shares of Mastercard from $618.00 to $665.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Royal Bank of Canada raised their target price 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. Raymond James reiterated an “outperform” rating and issued a $640.00 target price (up from $614.00) on shares of Mastercard in a research note on Friday, January 31st. JPMorgan Chase & Co. raised their target price on shares of Mastercard from $590.00 to $610.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Susquehanna raised their target price on shares of Mastercard from $605.00 to $670.00 and gave the company a “positive” rating 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 two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.