Modus Advisors LLC Acquires New Holdings in Mastercard Inc (NYSE:MA)
Modus Advisors LLC acquired a new stake in shares of Mastercard Inc (NYSE:MA) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,397 shares of the credit services provider’s stock, valued at approximately $1,014,000. Mastercard accounts for approximately 0.8% of Modus Advisors LLC’s holdings, making the stock its 24th biggest holding.
Other hedge funds have also modified their holdings of the company. Ellevest Inc. grew its holdings in Mastercard by 52.8% in the second quarter. Ellevest Inc. now owns 110 shares of the credit services provider’s stock worth $29,000 after purchasing an additional 38 shares during the last quarter. Howe & Rusling Inc. purchased a new position in Mastercard in the third quarter worth $29,000. Princeton Global Asset Management LLC purchased a new position in Mastercard in the second quarter worth $33,000. First Command Financial Services Inc. grew its holdings in Mastercard by 96.3% in the fourth quarter. First Command Financial Services Inc. now owns 161 shares of the credit services provider’s stock worth $48,000 after purchasing an additional 79 shares during the last quarter. Finally, Corbenic Partners LLC purchased a new position in Mastercard in the fourth quarter worth $53,000. 73.84% of the stock is currently owned by institutional investors.
A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Co boosted their price objective on shares of Mastercard from $317.00 to $336.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Guggenheim set a $305.00 target price on shares of Mastercard and gave the company a “buy” rating in a research report on Friday, November 1st. Morgan Stanley boosted their target price on shares of Mastercard from $317.00 to $338.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. ValuEngine downgraded shares of Mastercard from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, SunTrust Banks boosted their target price on shares of Mastercard from $325.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $313.73.
Mastercard (NYSE:MA) last issued its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.14. The business had revenue of $4.47 billion during the quarter, compared to the consensus estimate of $4.41 billion. Mastercard had a net margin of 42.50% and a return on equity of 146.92%. The company’s revenue was up 14.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.78 earnings per share. As a group, sell-side analysts predict that Mastercard Inc will post 7.69 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Thursday, January 9th will be given a $0.40 dividend. The ex-dividend date is Wednesday, January 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.51%. This is an increase from Mastercard’s previous quarterly dividend of $0.33. Mastercard’s dividend payout ratio is 24.65%.
Mastercard announced that its board has approved a share repurchase program on Tuesday, December 3rd that authorizes the company to buyback $8.00 billion in shares. This buyback authorization authorizes the credit services provider to reacquire up to 2.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
In other news, insider Edward Grunde Mclaughlin sold 28,526 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $302.16, for a total transaction of $8,619,416.16. Following the completion of the sale, the insider now owns 43,215 shares of the company’s stock, valued at $13,057,844.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard Haythornthwaite sold 5,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $280.00, for a total transaction of $1,400,000.00. Following the sale, the director now directly owns 32,119 shares of the company’s stock, valued at approximately $8,993,320. The disclosure for this sale can be found here. In the last quarter, insiders sold 129,108 shares of company stock valued at $36,637,812. Insiders own 3.70% of the company’s stock.
Mastercard Company Profile
Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers related products and services.
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