Coronation Fund Managers Ltd. Decreases Stake in Mastercard Incorporated (NYSE:MA)

Coronation Fund Managers Ltd. cut its holdings in shares of Mastercard Incorporated (NYSE:MA) by 19.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,788 shares of the credit services provider’s stock after selling 1,371 shares during the period. Coronation Fund Managers Ltd.’s holdings in Mastercard were worth $3,048,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Brown Miller Wealth Management LLC increased its stake in shares of Mastercard by 4.1% in the third quarter. Brown Miller Wealth Management LLC now owns 2,920 shares of the credit services provider’s stock worth $1,442,000 after buying an additional 115 shares during the last quarter. Montis Financial LLC increased its position in shares of Mastercard by 72.6% in the 3rd quarter. Montis Financial LLC now owns 1,427 shares of the credit services provider’s stock worth $705,000 after purchasing an additional 600 shares during the last quarter. Mechanics Bank Trust Department raised its stake in shares of Mastercard by 0.9% in the 3rd quarter. Mechanics Bank Trust Department now owns 5,234 shares of the credit services provider’s stock valued at $2,585,000 after purchasing an additional 47 shares in the last quarter. Retirement Planning Group LLC bought a new position in shares of Mastercard during the third quarter worth about $319,000. Finally, Carnegie Investment Counsel grew its stake in Mastercard by 0.5% in the third quarter. Carnegie Investment Counsel now owns 115,821 shares of the credit services provider’s stock worth $57,192,000 after purchasing an additional 596 shares in the last quarter. Institutional investors and hedge funds own 97.28% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Macquarie upped their price objective on Mastercard from $565.00 to $645.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Royal Bank of Canada raised their price objective on Mastercard from $572.00 to $650.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Robert W. Baird increased their target price on shares of Mastercard from $545.00 to $575.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Morgan Stanley reduced their price target on shares of Mastercard from $654.00 to $644.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Finally, Seaport Res Ptn downgraded shares of Mastercard from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $603.08.

Mastercard Trading Down 0.8 %

Shares of NYSE:MA opened at $562.55 on Monday. The company has a 50 day moving average of $531.61 and a 200-day moving average of $505.53. The company has a current ratio of 1.03, a quick ratio of 1.29 and a debt-to-equity ratio of 2.68. The firm has a market cap of $516.33 billion, a P/E ratio of 40.50, a P/E/G ratio of 2.37 and a beta of 1.10. Mastercard Incorporated has a twelve month low of $428.86 and a twelve month high of $576.94.

Mastercard (NYSE:MA) last released its earnings results on Thursday, January 30th. The credit services provider reported $3.82 earnings per share for the quarter, topping analysts’ consensus estimates of $3.71 by $0.11. Mastercard had a return on equity of 188.47% and a net margin of 45.71%. As a group, analysts anticipate that Mastercard Incorporated will post 15.98 earnings per share for the current fiscal year.

Mastercard Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Thursday, January 9th were paid a dividend of $0.76 per share. The ex-dividend date was Friday, January 10th. This represents a $3.04 annualized dividend and a yield of 0.54%. This is a boost from Mastercard’s previous quarterly dividend of $0.66. Mastercard’s dividend payout ratio (DPR) is currently 21.89%.

Mastercard declared that its board has authorized a stock buyback plan 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 plans are often an indication that the company’s management believes its stock is undervalued.

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.