Summit Global Investments Sells 5,111 Shares of Mastercard Incorporated (NYSE:MA)

Summit Global Investments lessened its holdings in Mastercard Incorporated (NYSE:MA) by 22.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,116 shares of the credit services provider’s stock after selling 5,111 shares during the period. Summit Global Investments’ holdings in Mastercard were worth $9,540,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of MA. NewSquare Capital LLC bought a new position in Mastercard during the fourth quarter valued at $26,000. Halbert Hargrove Global Advisors LLC bought a new position in Mastercard during the fourth quarter valued at $32,000. Marshall Investment Management LLC bought a new position in Mastercard during the fourth quarter valued at $30,000. Truvestments Capital LLC increased its position in Mastercard by 62.5% during the fourth quarter. Truvestments Capital LLC now owns 65 shares of the credit services provider’s stock valued at $34,000 after acquiring an additional 25 shares during the last quarter. Finally, FPC Investment Advisory Inc. increased its position in Mastercard by 483.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 70 shares of the credit services provider’s stock valued at $39,000 after acquiring an additional 58 shares during the last quarter. Institutional investors own 97.28% of the company’s stock.

Insider Activity

In other news, insider Edward Grunde Mclaughlin sold 7,132 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $534.68, for a total transaction of $3,813,337.76. Following the transaction, the insider now owns 34,524 shares in the company, valued at $18,459,292.32. This represents a 17.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.10% of the company’s stock.

Mastercard Stock Performance

Shares of Mastercard stock opened at $535.14 on Friday. The company has a market capitalization of $487.89 billion, a PE ratio of 38.53, a P/E/G ratio of 2.37 and a beta of 1.10. 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 50-day simple moving average of $547.55 and a two-hundred day simple moving average of $524.36. Mastercard Incorporated has a one year low of $428.86 and a one year high of $582.23.

Mastercard (NYSE:MA) last announced its earnings results on Thursday, January 30th. The credit services provider reported $3.82 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%. Research analysts expect that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Mastercard declared that its board has initiated a stock buyback plan 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 plans are usually an indication that the company’s leadership believes its stock is undervalued.

Mastercard Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Wednesday, April 9th will be issued a dividend of $0.76 per share. The ex-dividend date is Wednesday, April 9th. This represents a $3.04 annualized dividend and a dividend yield of 0.57%. Mastercard’s dividend payout ratio (DPR) is currently 21.89%.

Wall Street Analyst Weigh In

MA has been the topic of a number of analyst reports. Monness Crespi & Hardt upgraded shares of Mastercard from a “neutral” rating to a “buy” rating and set a $640.00 price objective on the stock in a research report on Friday, January 31st. DZ Bank upgraded shares of Mastercard from a “hold” rating to a “buy” rating and set a $620.00 price objective on the stock in a research report on Tuesday, February 4th. Jefferies Financial Group boosted their price objective on shares of Mastercard from $590.00 to $610.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Susquehanna boosted 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. Finally, Tigress Financial reissued a “strong-buy” rating on shares of Mastercard in a research note on Monday, March 10th. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Mastercard has a consensus rating of “Moderate Buy” and an average target price of $606.11.

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.