Pictet Asset Management Ltd. cut its position in Mastercard Incorporated (NYSE:MA) by 14.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 509,392 shares of the credit services provider’s stock after selling 82,614 shares during the period. Pictet Asset Management Ltd.’s holdings in Mastercard were worth $71,926,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Glassman Wealth Services boosted its position in shares of Mastercard by 0.3% during the first quarter. Glassman Wealth Services now owns 1,769 shares of the credit services provider’s stock worth $199,000 after acquiring an additional 6 shares during the last quarter. Proficio Capital Partners LLC boosted its position in shares of Mastercard by 1.3% during the second quarter. Proficio Capital Partners LLC now owns 905 shares of the credit services provider’s stock worth $118,000 after acquiring an additional 12 shares during the last quarter. Berkshire Asset Management LLC PA boosted its position in shares of Mastercard by 0.3% during the second quarter. Berkshire Asset Management LLC PA now owns 6,448 shares of the credit services provider’s stock worth $783,000 after acquiring an additional 18 shares during the last quarter. First Interstate Bank boosted its position in shares of Mastercard by 1.4% during the second quarter. First Interstate Bank now owns 1,643 shares of the credit services provider’s stock worth $200,000 after acquiring an additional 23 shares during the last quarter. Finally, Lourd Capital LLC boosted its position in shares of Mastercard by 0.5% during the second quarter. Lourd Capital LLC now owns 5,423 shares of the credit services provider’s stock worth $659,000 after acquiring an additional 26 shares during the last quarter. 75.81% of the stock is owned by hedge funds and other institutional investors.

MA has been the subject of a number of research reports. Instinet restated a “buy” rating and set a $163.00 target price (up previously from $153.00) on shares of Mastercard in a research report on Saturday, September 9th. KeyCorp restated a “buy” rating and set a $165.00 target price on shares of Mastercard in a research report on Wednesday, October 18th. BMO Capital Markets restated an “outperform” rating and set a $174.00 target price (up previously from $157.00) on shares of Mastercard in a research report on Wednesday, November 1st. Piper Jaffray Companies restated a “buy” rating and set a $161.00 target price on shares of Mastercard in a research report on Friday, October 13th. Finally, Vetr upgraded shares of Mastercard from a “buy” rating to a “strong-buy” rating and set a $161.72 target price for the company in a research report on Tuesday, December 5th. Three investment analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $159.59.

Mastercard Incorporated (MA) opened at $153.40 on Monday. Mastercard Incorporated has a 12-month low of $102.98 and a 12-month high of $154.65. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.66 and a current ratio of 1.66. The company has a market cap of $162,398.75, a price-to-earnings ratio of 35.59, a price-to-earnings-growth ratio of 2.04 and a beta of 1.20.

Mastercard (NYSE:MA) last released its quarterly earnings data on Tuesday, October 31st. The credit services provider reported $1.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.23 by $0.11. Mastercard had a net margin of 38.70% and a return on equity of 78.38%. The business had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.28 billion. During the same quarter last year, the business earned $1.08 earnings per share. Mastercard’s quarterly revenue was up 18.1% compared to the same quarter last year. equities research analysts forecast that Mastercard Incorporated will post 4.54 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Tuesday, January 9th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend is Monday, January 8th. This is a positive change from Mastercard’s previous quarterly dividend of $0.22. Mastercard’s dividend payout ratio (DPR) is 20.47%.

Mastercard announced that its board has initiated a stock buyback program on Monday, December 4th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the credit services provider to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

In other news, insider Craig Vosburg sold 14,200 shares of the firm’s stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $141.86, for a total value of $2,014,412.00. Following the completion of the sale, the insider now owns 40,646 shares in the company, valued at approximately $5,766,041.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael Fraccaro sold 5,800 shares of the firm’s stock in a transaction dated Thursday, October 12th. The stock was sold at an average price of $147.59, for a total transaction of $856,022.00. The disclosure for this sale can be found here. Insiders sold a total of 25,000 shares of company stock valued at $3,582,984 in the last 90 days. Company insiders own 0.30% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Pictet Asset Management Ltd. Has $71.93 Million Stake in Mastercard Incorporated (MA)” was originally posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this report on another domain, it was copied illegally and republished in violation of US and international copyright & trademark legislation. The legal version of this report can be accessed at https://www.thecerbatgem.com/2017/12/18/pictet-asset-management-ltd-has-71-93-million-stake-in-mastercard-incorporated-ma.html.

Mastercard Company Profile

MasterCard Incorporated is a technology company that connects consumers, financial institutions, merchants, governments and businesses across the world, enabling them to use electronic forms of payment. The Company operates through Payment Solutions segment. The Company allows user to make payments by creating a range of payment solutions and services using its brands, which include MasterCard, Maestro and Cirrus.

Want to see what other hedge funds are holding MA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mastercard Incorporated (NYSE:MA).

Institutional Ownership by Quarter for Mastercard (NYSE:MA)

Receive News & Ratings for Mastercard Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mastercard and related companies with MarketBeat.com's FREE daily email newsletter.