Mastercard Incorporated (NYSE:MA) Shares Purchased by Summit Financial LLC

Summit Financial LLC raised its stake in Mastercard Incorporated (NYSE:MA) by 17.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,135 shares of the credit services provider’s stock after acquiring an additional 1,665 shares during the period. Summit Financial LLC’s holdings in Mastercard were worth $5,863,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in MA. Addison Advisors LLC grew its stake in Mastercard by 3.8% during the 4th quarter. Addison Advisors LLC now owns 493 shares of the credit services provider’s stock worth $260,000 after buying an additional 18 shares during the last quarter. Capital Investment Advisory Services LLC grew its position in shares of Mastercard by 0.6% during the fourth quarter. Capital Investment Advisory Services LLC now owns 3,135 shares of the credit services provider’s stock worth $1,651,000 after acquiring an additional 19 shares during the last quarter. Capital Investment Services of America Inc. increased its holdings in shares of Mastercard by 4.2% in the 4th quarter. Capital Investment Services of America Inc. now owns 475 shares of the credit services provider’s stock valued at $250,000 after acquiring an additional 19 shares during the period. Augustine Asset Management Inc. raised its position in Mastercard by 1.1% in the 4th quarter. Augustine Asset Management Inc. now owns 1,797 shares of the credit services provider’s stock valued at $946,000 after purchasing an additional 19 shares during the last quarter. Finally, Richard W. Paul & Associates LLC boosted its stake in Mastercard by 0.9% during the 4th quarter. Richard W. Paul & Associates LLC now owns 2,245 shares of the credit services provider’s stock worth $1,182,000 after purchasing an additional 19 shares during the period. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Analyst Ratings Changes

MA has been the topic of a number of recent research reports. KeyCorp lifted their price objective on shares of Mastercard from $600.00 to $630.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. upped their price objective on Mastercard from $590.00 to $610.00 and gave the company an “overweight” 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. Keefe, Bruyette & Woods upped their price target on Mastercard from $618.00 to $665.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Finally, Seaport Res Ptn lowered shares of Mastercard from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Four 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 company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $606.11.

Insider Transactions at Mastercard

In other Mastercard news, CEO Michael Miebach sold 15,775 shares of Mastercard stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $550.16, for a total transaction of $8,678,774.00. Following the transaction, the chief executive officer now directly owns 84,871 shares of the company’s stock, valued at $46,692,629.36. The trade was a 15.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Edward Grunde Mclaughlin sold 7,132 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $534.68, for a total transaction of $3,813,337.76. Following the sale, the insider now directly owns 34,524 shares of the company’s stock, valued at approximately $18,459,292.32. This trade represents a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Mastercard Trading Down 3.0 %

Shares of Mastercard stock opened at $540.57 on Monday. 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. The business has a 50 day moving average price of $550.58 and a 200 day moving average price of $527.19. The company has a market capitalization of $492.84 billion, a P/E ratio of 38.92, a P/E/G ratio of 2.37 and a beta of 1.10.

Mastercard (NYSE:MA) last released its earnings results on Thursday, January 30th. The credit services provider reported $3.82 earnings per share (EPS) 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%. Sell-side analysts anticipate that Mastercard Incorporated will post 15.91 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. Investors 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 yield of 0.56%. Mastercard’s dividend payout ratio (DPR) is presently 21.89%.

Mastercard declared that its board has approved a stock repurchase program 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 purchase up to 2.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is 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.