Kane Investment Management Inc. Invests $2.45 Million in Mastercard Incorporated (NYSE:MA)

Kane Investment Management Inc. purchased a new stake in Mastercard Incorporated (NYSE:MA) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,658 shares of the credit services provider’s stock, valued at approximately $2,453,000. Mastercard makes up about 1.4% of Kane Investment Management Inc.’s holdings, making the stock its 12th largest position.

A number of other institutional investors also recently bought and sold shares of MA. NewSquare Capital LLC purchased a new position in shares of Mastercard during the fourth quarter worth approximately $26,000. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Mastercard during the fourth quarter worth about $32,000. Marshall Investment Management LLC purchased a new position in shares of Mastercard during the fourth quarter worth about $30,000. Truvestments Capital LLC increased its position in Mastercard by 62.5% in the 4th quarter. Truvestments Capital LLC now owns 65 shares of the credit services provider’s stock valued at $34,000 after acquiring an additional 25 shares during the period. Finally, FPC Investment Advisory Inc. raised its stake in Mastercard by 483.3% during the 4th quarter. FPC Investment Advisory Inc. now owns 70 shares of the credit services provider’s stock valued at $39,000 after acquiring an additional 58 shares during the last quarter. 97.28% of the stock is owned by hedge funds and other institutional investors.

Mastercard Price Performance

Mastercard stock opened at $512.18 on Tuesday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.68. The firm has a market capitalization of $466.96 billion, a P/E ratio of 36.87, a PEG ratio of 2.37 and a beta of 1.06. The firm has a fifty day moving average of $541.74 and a 200-day moving average of $528.66. Mastercard Incorporated has a 52-week low of $428.86 and a 52-week high of $582.23.

Mastercard (NYSE:MA) last issued its quarterly earnings data on Thursday, January 30th. The credit services provider reported $3.82 EPS for the quarter, topping analysts’ consensus estimates of $3.71 by $0.11. Mastercard had a return on equity of 188.47% and a net margin of 45.71%. As a group, analysts predict that Mastercard Incorporated will post 15.91 EPS for the current year.

Mastercard declared that its board has approved a stock buyback plan on Tuesday, December 17th that allows the company to repurchase $12.00 billion in shares. This repurchase authorization allows the credit services provider to repurchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Mastercard Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Wednesday, April 9th will be given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend is Wednesday, April 9th. Mastercard’s payout ratio is 21.89%.

Insider Activity at Mastercard

In other news, insider Edward Grunde Mclaughlin sold 7,132 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $534.68, for a total value of $3,813,337.76. Following the sale, the insider now owns 34,524 shares in the company, valued at approximately $18,459,292.32. This represents a 17.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Miebach sold 15,775 shares of Mastercard stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $550.16, for a total value of $8,678,774.00. Following the completion of the transaction, the chief executive officer now owns 84,871 shares of the company’s stock, valued at $46,692,629.36. This trade represents a 15.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Morgan Stanley decreased their price target on Mastercard from $654.00 to $644.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Evercore ISI began coverage on shares of Mastercard in a report on Wednesday, April 9th. They issued an “in-line” rating and a $550.00 target price on the stock. JPMorgan Chase & Co. raised their price target on Mastercard from $590.00 to $610.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Citigroup upped their price objective on Mastercard from $584.00 to $650.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Finally, Wells Fargo & Company boosted their target price on shares of Mastercard from $585.00 to $625.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Six research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $607.96.

About Mastercard

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.