Mitsubishi UFJ Asset Management Co. Ltd. Purchases 100,478 Shares of Mastercard Incorporated (NYSE:MA)

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Mastercard Incorporated (NYSE:MA) by 8.3% during the 4th quarter, Holdings Channel reports. The firm owned 1,306,341 shares of the credit services provider’s stock after purchasing an additional 100,478 shares during the quarter. Mastercard makes up approximately 0.7% of Mitsubishi UFJ Asset Management Co. Ltd.’s holdings, making the stock its 26th largest holding. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Mastercard were worth $681,074,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund grew its holdings in shares of Mastercard by 2.3% in the fourth quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 176,584 shares of the credit services provider’s stock valued at $92,984,000 after acquiring an additional 3,900 shares in the last quarter. Aviso Wealth Management boosted its position in Mastercard by 23.4% in the fourth quarter. Aviso Wealth Management now owns 2,944 shares of the credit services provider’s stock worth $1,550,000 after purchasing an additional 559 shares during the last quarter. Borer Denton & Associates Inc. grew its stake in Mastercard by 1.0% in the 4th quarter. Borer Denton & Associates Inc. now owns 3,880 shares of the credit services provider’s stock valued at $2,043,000 after purchasing an additional 40 shares during the period. Core Wealth Partners LLC increased its position in shares of Mastercard by 35.3% during the 4th quarter. Core Wealth Partners LLC now owns 963 shares of the credit services provider’s stock valued at $507,000 after purchasing an additional 251 shares during the last quarter. Finally, Ausdal Financial Partners Inc. raised its stake in shares of Mastercard by 178.0% during the 4th quarter. Ausdal Financial Partners Inc. now owns 3,811 shares of the credit services provider’s stock worth $2,007,000 after purchasing an additional 2,440 shares during the period. 97.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MA has been the subject of a number of research analyst reports. Seaport Res Ptn downgraded shares of Mastercard from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. UBS Group raised 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. Raymond James reiterated an “outperform” rating and issued a $640.00 price objective (up previously from $614.00) on shares of Mastercard in a research note on Friday, January 31st. Piper Sandler restated an “overweight” rating and issued a $635.00 target price (up from $591.00) on shares of Mastercard in a research note on Friday, January 31st. Finally, Royal Bank of Canada increased their price target on Mastercard from $572.00 to $650.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Mastercard currently has a consensus rating of “Moderate Buy” and an average price target of $606.11.

Insider Activity at Mastercard

In other Mastercard news, insider Edward Grunde Mclaughlin sold 7,132 shares of the stock in a transaction that occurred on 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 directly owns 34,524 shares in the company, valued at $18,459,292.32. This trade represents a 17.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.10% of the stock is currently owned by insiders.

Mastercard Trading Up 0.7 %

Shares of Mastercard stock opened at $549.13 on Thursday. The company has a 50 day simple moving average of $549.58 and a two-hundred day simple moving average of $526.06. The firm has a market cap of $500.64 billion, a PE ratio of 39.53, a PEG ratio of 2.37 and a beta of 1.10. Mastercard Incorporated has a 1 year low of $428.86 and a 1 year high of $582.23. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.03 and a quick ratio of 1.03.

Mastercard (NYSE:MA) last announced 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%. Analysts expect that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $3.04 annualized dividend and a dividend yield of 0.55%. Mastercard’s dividend payout ratio (DPR) is presently 21.89%.

Mastercard declared that its board has approved a stock buyback plan on Tuesday, December 17th that allows the company to buyback $12.00 billion in outstanding shares. This buyback authorization allows the credit services provider to reacquire up to 2.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.

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.