State of New Jersey Common Pension Fund D Cuts Stock Holdings in Mastercard Incorporated (NYSE:MA)

State of New Jersey Common Pension Fund D trimmed its position in shares of Mastercard Incorporated (NYSE:MA) by 0.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 304,524 shares of the credit services provider’s stock after selling 2,896 shares during the quarter. Mastercard accounts for approximately 0.6% of State of New Jersey Common Pension Fund D’s portfolio, making the stock its 20th largest holding. State of New Jersey Common Pension Fund D’s holdings in Mastercard were worth $160,353,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Highline Wealth Partners LLC purchased a new position in Mastercard during the 3rd quarter worth $25,000. First Personal Financial Services purchased a new position in Mastercard during the 3rd quarter worth $39,000. FSA Wealth Management LLC purchased a new position in Mastercard during the 3rd quarter worth $54,000. Raelipskie Partnership raised its stake in shares of Mastercard by 120.0% during the 3rd quarter. Raelipskie Partnership now owns 110 shares of the credit services provider’s stock worth $54,000 after purchasing an additional 60 shares during the period. Finally, Legacy Investment Solutions LLC bought a new stake in shares of Mastercard during the 3rd quarter worth $55,000. 97.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MA has been the topic of a number of recent analyst reports. Citigroup lifted their target price on Mastercard from $584.00 to $650.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. DZ Bank upgraded Mastercard from a “hold” rating to a “buy” rating and set a $620.00 target price on the stock in a research note on Tuesday, February 4th. KeyCorp lifted their target price on Mastercard from $600.00 to $630.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods lifted their target price 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 cut Mastercard from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Four equities research 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $606.11.

Mastercard Stock Down 0.3 %

Shares of NYSE MA opened at $564.77 on Monday. Mastercard Incorporated has a 12 month low of $428.86 and a 12 month high of $576.94. 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 capitalization of $518.36 billion, a price-to-earnings ratio of 40.66, a PEG ratio of 2.37 and a beta of 1.10. The business has a 50-day moving average of $535.49 and a 200-day moving average of $509.98.

Mastercard (NYSE:MA) last issued its quarterly earnings data on Thursday, January 30th. The credit services provider reported $3.82 EPS for the quarter, topping the consensus estimate of $3.71 by $0.11. Mastercard had a return on equity of 188.47% and a net margin of 45.71%. Sell-side analysts expect that Mastercard Incorporated will post 15.98 earnings per share for the current fiscal year.

Mastercard Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Wednesday, April 9th will be paid a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend is Wednesday, April 9th. Mastercard’s dividend payout ratio is currently 21.89%.

Mastercard announced that its Board of Directors has initiated a stock buyback program on Tuesday, December 17th that permits the company to repurchase $12.00 billion in shares. This repurchase authorization permits the credit services provider to buy up to 2.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors 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.