Harbour Trust & Investment Management Co Makes New $17.57 Million Investment in Mastercard Incorporated (NYSE:MA)

Harbour Trust & Investment Management Co acquired a new position in Mastercard Incorporated (NYSE:MA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 41,183 shares of the credit services provider’s stock, valued at approximately $17,565,000. Mastercard accounts for approximately 2.5% of Harbour Trust & Investment Management Co’s investment portfolio, making the stock its 8th biggest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of MA. Activest Wealth Management increased its position in shares of Mastercard by 87.4% during the fourth quarter. Activest Wealth Management now owns 536 shares of the credit services provider’s stock valued at $229,000 after acquiring an additional 250 shares in the last quarter. Everett Harris & Co. CA raised its stake in shares of Mastercard by 0.5% in the fourth quarter. Everett Harris & Co. CA now owns 49,539 shares of the credit services provider’s stock worth $21,129,000 after purchasing an additional 252 shares during the last quarter. Atlantic Union Bankshares Corp raised its stake in shares of Mastercard by 23.9% in the fourth quarter. Atlantic Union Bankshares Corp now owns 12,124 shares of the credit services provider’s stock worth $5,171,000 after purchasing an additional 2,337 shares during the last quarter. Fortune Financial Advisors LLC raised its stake in shares of Mastercard by 4.5% in the fourth quarter. Fortune Financial Advisors LLC now owns 7,853 shares of the credit services provider’s stock worth $3,350,000 after purchasing an additional 339 shares during the last quarter. Finally, Foster Victor Wealth Advisors LLC raised its stake in shares of Mastercard by 1.5% in the fourth quarter. Foster Victor Wealth Advisors LLC now owns 42,752 shares of the credit services provider’s stock worth $18,041,000 after purchasing an additional 612 shares during the last quarter. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Mastercard Price Performance

Mastercard stock traded down $6.69 during midday trading on Tuesday, reaching $472.16. 2,217,105 shares of the stock traded hands, compared to its average volume of 2,432,282. The stock’s fifty day moving average is $470.65 and its 200-day moving average is $430.18. Mastercard Incorporated has a 12 month low of $357.58 and a 12 month high of $490.00. The stock has a market cap of $440.47 billion, a P/E ratio of 39.72, a PEG ratio of 1.81 and a beta of 1.08. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 2.06.

Mastercard (NYSE:MA) last announced its quarterly 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. Mastercard had a return on equity of 191.22% and a net margin of 44.60%. The company had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.46 billion. During the same period in the prior year, the company earned $2.65 earnings per share. As a group, equities research analysts anticipate that Mastercard Incorporated will post 14.35 EPS for the current year.

Mastercard Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Tuesday, April 9th will be given a dividend of $0.66 per share. The ex-dividend date of this dividend is Monday, April 8th. This represents a $2.64 dividend on an annualized basis and a yield of 0.56%. Mastercard’s dividend payout ratio (DPR) is presently 22.32%.

Insider Buying and Selling at Mastercard

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

Analyst Ratings Changes

Several research firms have recently weighed in on MA. KeyCorp boosted their price target on Mastercard from $475.00 to $490.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Oppenheimer reiterated an “outperform” rating and set a $510.00 price objective on shares of Mastercard in a research report on Thursday, February 1st. Evercore ISI upped their price objective on Mastercard from $530.00 to $545.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. Royal Bank of Canada upped their price objective on Mastercard from $432.00 to $499.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Finally, Wells Fargo & Company upped their price objective on Mastercard from $490.00 to $530.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. Two research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $481.95.

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.