Hartford Investment Management Co. Trims Stock Holdings in Mastercard Incorporated (NYSE:MA)

Hartford Investment Management Co. lessened its stake in shares of Mastercard Incorporated (NYSE:MAFree Report) by 4.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,782 shares of the credit services provider’s stock after selling 2,625 shares during the quarter. Mastercard accounts for about 0.9% of Hartford Investment Management Co.’s holdings, making the stock its 17th biggest holding. Hartford Investment Management Co.’s holdings in Mastercard were worth $23,792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of Mastercard in the 4th quarter valued at $3,308,223,000. Moneta Group Investment Advisors LLC grew its position in Mastercard by 111,819.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 5,983,231 shares of the credit services provider’s stock valued at $2,080,549,000 after acquiring an additional 5,977,885 shares in the last quarter. Morgan Stanley increased its stake in Mastercard by 17.7% during the fourth quarter. Morgan Stanley now owns 15,843,692 shares of the credit services provider’s stock worth $5,509,328,000 after purchasing an additional 2,385,640 shares during the period. Barclays PLC lifted its position in shares of Mastercard by 145.7% during the second quarter. Barclays PLC now owns 2,960,242 shares of the credit services provider’s stock worth $1,164,263,000 after purchasing an additional 1,755,483 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Mastercard by 3.9% in the first quarter. State Street Corp now owns 34,759,814 shares of the credit services provider’s stock valued at $12,632,032,000 after purchasing an additional 1,303,477 shares during the period. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Raymond James upped their target price on shares of Mastercard from $452.00 to $504.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Oppenheimer reiterated an “outperform” rating and issued a $510.00 price objective on shares of Mastercard in a research note on Thursday, February 1st. Jefferies Financial Group boosted their target price on Mastercard from $425.00 to $480.00 and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Royal Bank of Canada increased their price target on Mastercard from $432.00 to $499.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Finally, Monness Crespi & Hardt assumed coverage on shares of Mastercard in a report on Wednesday, December 20th. They issued a “neutral” rating on the stock. Two analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $481.95.

Read Our Latest Analysis on Mastercard

Mastercard Stock Performance

NYSE:MA traded up $1.17 during trading hours on Wednesday, reaching $480.60. 695,547 shares of the company’s stock were exchanged, compared to its average volume of 2,415,640. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 2.06. The firm has a market capitalization of $448.35 billion, a price-to-earnings ratio of 40.53, a P/E/G ratio of 1.82 and a beta of 1.08. Mastercard Incorporated has a 1-year low of $355.97 and a 1-year high of $490.00. The company has a 50-day moving average of $467.67 and a 200 day moving average of $428.36.

Mastercard (NYSE:MAGet Free Report) last announced its earnings results on Wednesday, January 31st. The credit services provider reported $3.18 EPS for the quarter, beating analysts’ consensus estimates of $3.08 by $0.10. The firm had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.46 billion. Mastercard had a return on equity of 191.22% and a net margin of 44.60%. During the same quarter in the prior year, the firm earned $2.65 EPS. Research analysts anticipate that Mastercard Incorporated will post 14.35 EPS for the current year.

Mastercard Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Tuesday, April 9th will be issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Monday, April 8th. Mastercard’s dividend payout ratio (DPR) is 22.32%.

Mastercard announced that its Board of Directors has approved a stock repurchase plan on Tuesday, December 5th that authorizes the company to buyback $11.00 billion in outstanding shares. This buyback authorization authorizes the credit services provider to purchase up to 2.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Activity

In other news, insider Ajay Bhalla sold 98 shares of the stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $439.52, for a total transaction of $43,072.96. Following the transaction, the insider now directly owns 6,235 shares in the company, valued at approximately $2,740,407.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Ajay Bhalla sold 98 shares of the company’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $439.52, for a total transaction of $43,072.96. Following the completion of the sale, the insider now directly owns 6,235 shares in the company, valued at approximately $2,740,407.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Foundation Mastercard sold 200 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $487.25, for a total value of $97,450.00. Following the sale, the insider now directly owns 97,543,308 shares of the company’s stock, valued at approximately $47,527,976,823. The disclosure for this sale can be found here. Insiders sold a total of 50,628 shares of company stock valued at $23,309,067 over the last quarter. Company insiders own 0.13% of the company’s stock.

Mastercard Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Mastercard (NYSE:MA)

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