Fisher Asset Management LLC Raises Position in Mastercard Incorporated (MA)
Fisher Asset Management LLC increased its position in shares of Mastercard Incorporated (NYSE:MA) by 1.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 326,158 shares of the credit services provider’s stock after purchasing an additional 4,939 shares during the quarter. Fisher Asset Management LLC’s holdings in Mastercard were worth $49,367,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of the stock. Brightworth raised its holdings in Mastercard by 9.3% during the fourth quarter. Brightworth now owns 5,311 shares of the credit services provider’s stock worth $804,000 after purchasing an additional 452 shares during the last quarter. Prospera Financial Services Inc raised its holdings in Mastercard by 32.2% during the fourth quarter. Prospera Financial Services Inc now owns 1,936 shares of the credit services provider’s stock worth $300,000 after purchasing an additional 471 shares during the last quarter. Walter & Keenan Financial Consulting Co. MI ADV acquired a new position in Mastercard during the fourth quarter worth $207,000. Pratt Collard Advisory Partners LLC purchased a new position in Mastercard during the fourth quarter worth $205,000. Finally, Bfsg LLC increased its position in Mastercard by 14.7% during the fourth quarter. Bfsg LLC now owns 16,369 shares of the credit services provider’s stock worth $2,478,000 after buying an additional 2,094 shares in the last quarter. 75.66% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Edward Grunde Mclaughlin sold 17,167 shares of Mastercard stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $151.81, for a total value of $2,606,122.27. Following the completion of the sale, the insider now owns 47,901 shares of the company’s stock, valued at $7,271,850.81. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.30% of the stock is owned by insiders.
Mastercard (NYSE:MA) last announced its quarterly earnings data on Thursday, February 1st. The credit services provider reported $1.14 EPS for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.02. The business had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $3.25 billion. Mastercard had a return on equity of 83.57% and a net margin of 31.33%. The business’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.86 earnings per share. analysts expect that Mastercard Incorporated will post 5.88 EPS for the current year.
Mastercard announced that its board has initiated a share buyback plan on Monday, December 4th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the credit services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 9th. Stockholders of record on Monday, April 9th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date is Friday, April 6th. Mastercard’s dividend payout ratio is currently 27.40%.
MA has been the subject of several recent research reports. Citigroup raised their price target on Mastercard from $157.00 to $167.00 and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Credit Suisse Group reissued a “hold” rating and set a $164.00 price target on shares of Mastercard in a research report on Monday, January 8th. Zacks Investment Research raised Mastercard from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research report on Tuesday, January 2nd. Morgan Stanley raised their price target on Mastercard from $178.00 to $192.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Finally, Loop Capital raised their price target on Mastercard to $167.00 and gave the stock a “buy” rating in a research report on Wednesday, November 1st. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirty-one have assigned a buy rating to the stock. Mastercard presently has an average rating of “Buy” and an average target price of $176.64.
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.
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