Mastercard Incorporated (NYSE:MA) Shares Sold by Destination Wealth Management

Destination Wealth Management trimmed its holdings in Mastercard Incorporated (NYSE:MA) by 2.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 105,680 shares of the credit services provider’s stock after selling 2,155 shares during the period. Mastercard accounts for approximately 1.7% of Destination Wealth Management’s holdings, making the stock its 20th largest holding. Destination Wealth Management’s holdings in Mastercard were worth $55,648,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. NewSquare Capital LLC purchased a new position in shares of Mastercard in the 4th quarter worth about $26,000. Halbert Hargrove Global Advisors LLC purchased a new position in shares of Mastercard in the 4th quarter worth about $32,000. Marshall Investment Management LLC purchased a new position in shares of Mastercard in the 4th quarter worth about $30,000. FPC Investment Advisory Inc. raised its holdings in shares of Mastercard by 483.3% in the 4th quarter. FPC Investment Advisory Inc. now owns 70 shares of the credit services provider’s stock worth $39,000 after purchasing an additional 58 shares during the period. Finally, First Personal Financial Services purchased a new position in shares of Mastercard in the 3rd quarter worth about $39,000. 97.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on MA shares. Citigroup raised their price objective on Mastercard from $584.00 to $650.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Susquehanna boosted their price target on Mastercard from $605.00 to $670.00 and gave the stock a “positive” rating in a research report on Friday, January 31st. Raymond James reissued an “outperform” rating and set a $640.00 price target (up from $614.00) on shares of Mastercard in a research report on Friday, January 31st. Keefe, Bruyette & Woods boosted their price target on Mastercard from $618.00 to $665.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. boosted their price target on Mastercard from $590.00 to $610.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $606.11.

Mastercard Price Performance

Shares of MA opened at $549.60 on Friday. The company has a market cap of $501.07 billion, a P/E ratio of 39.57, a PEG ratio of 2.37 and a beta of 1.10. The stock has a fifty day moving average price of $544.85 and a 200 day moving average price of $519.85. 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 Incorporated has a 12 month low of $428.86 and a 12 month high of $582.23.

Mastercard (NYSE:MA) last issued its quarterly earnings results on Thursday, January 30th. The credit services provider reported $3.82 EPS for the quarter, beating 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%. On average, research analysts forecast that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Wednesday, April 9th will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Wednesday, April 9th. Mastercard’s dividend payout ratio (DPR) is 21.89%.

Mastercard declared that its Board of Directors has approved a share repurchase 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 purchase up to 2.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

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.