Tuttle Capital Management LLC Grows Holdings in Mastercard Incorporated (NYSE:MA)

Tuttle Capital Management LLC raised its position in Mastercard Incorporated (NYSE:MA) by 34.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 809 shares of the credit services provider’s stock after purchasing an additional 208 shares during the period. Mastercard accounts for 2.5% of Tuttle Capital Management LLC’s holdings, making the stock its 11th biggest position. Tuttle Capital Management LLC’s holdings in Mastercard were worth $426,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the company. Highline Wealth Partners LLC purchased a new stake in Mastercard during the third quarter worth about $25,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Mastercard during the 2nd quarter worth approximately $34,000. Fairway Wealth LLC bought a new stake in shares of Mastercard in the 2nd quarter worth approximately $35,000. First Personal Financial Services purchased a new position in Mastercard in the third quarter valued at approximately $39,000. Finally, Lowe Wealth Advisors LLC grew its holdings in Mastercard by 74.0% during the third quarter. Lowe Wealth Advisors LLC now owns 87 shares of the credit services provider’s stock valued at $43,000 after purchasing an additional 37 shares during the period. Institutional investors own 97.28% of the company’s stock.

Mastercard Price Performance

Shares of NYSE:MA opened at $505.27 on Tuesday. The company’s fifty day moving average price is $524.08 and its 200-day moving average price is $492.75. The company has a debt-to-equity ratio of 2.36, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a market capitalization of $463.75 billion, a price-to-earnings ratio of 38.22, a PEG ratio of 2.36 and a beta of 1.10. Mastercard Incorporated has a one year low of $425.48 and a one year high of $537.70.

Mastercard (NYSE:MA) last released its earnings results on Thursday, October 31st. The credit services provider reported $3.89 EPS for the quarter, beating analysts’ consensus estimates of $3.73 by $0.16. Mastercard had a return on equity of 178.27% and a net margin of 45.26%. The business had revenue of $7.37 billion for the quarter, compared to analysts’ expectations of $7.27 billion. During the same quarter in the prior year, the firm earned $3.39 earnings per share. The firm’s revenue was up 12.8% on a year-over-year basis. On average, equities research analysts anticipate that Mastercard Incorporated will post 14.47 earnings per share for the current fiscal year.

Mastercard Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Thursday, January 9th will be given a $0.76 dividend. This is an increase from Mastercard’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Friday, January 10th. This represents a $3.04 dividend on an annualized basis and a yield of 0.60%. Mastercard’s payout ratio is presently 23.00%.

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

Analyst Ratings Changes

Several analysts have issued reports on MA shares. Mizuho boosted their target price on Mastercard from $496.00 to $532.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. lowered their price objective on Mastercard from $593.00 to $580.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Jefferies Financial Group increased their target price on shares of Mastercard from $590.00 to $610.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Mastercard from $510.00 to $580.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Morgan Stanley lifted their price objective on shares of Mastercard from $564.00 to $654.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Three research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $566.13.

Mastercard 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.