Mastercard Incorporated (MA) Shares Sold by Olstein Capital Management L.P.
Olstein Capital Management L.P. cut its holdings in Mastercard Incorporated (NYSE:MA) by 23.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,615 shares of the credit services provider’s stock after selling 11,385 shares during the period. Olstein Capital Management L.P.’s holdings in Mastercard were worth $5,311,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also bought and sold shares of MA. Janus Henderson Group PLC raised its position in shares of Mastercard by 784.3% in the 2nd quarter. Janus Henderson Group PLC now owns 16,870,229 shares of the credit services provider’s stock worth $2,048,899,000 after acquiring an additional 14,962,583 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Mastercard by 289.7% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,570,551 shares of the credit services provider’s stock valued at $433,643,000 after buying an additional 2,654,308 shares during the period. Capital Research Global Investors grew its stake in shares of Mastercard by 15.8% in the 2nd quarter. Capital Research Global Investors now owns 12,685,589 shares of the credit services provider’s stock valued at $1,540,665,000 after buying an additional 1,729,179 shares during the period. Vanguard Group Inc. grew its stake in shares of Mastercard by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 65,297,307 shares of the credit services provider’s stock valued at $7,930,357,000 after buying an additional 1,490,267 shares during the period. Finally, Egerton Capital UK LLP grew its stake in shares of Mastercard by 60.6% in the 2nd quarter. Egerton Capital UK LLP now owns 3,923,766 shares of the credit services provider’s stock valued at $476,541,000 after buying an additional 1,480,425 shares during the period. 75.58% of the stock is owned by hedge funds and other institutional investors.
In other Mastercard news, insider Edward Grunde Mclaughlin sold 17,167 shares of Mastercard stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $151.81, for a total transaction of $2,606,122.27. Following the transaction, the insider now owns 47,901 shares of the company’s stock, valued at approximately $7,271,850.81. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.30% of the stock is currently owned by insiders.
Mastercard Incorporated (NYSE:MA) opened at $162.33 on Friday. The stock has a market capitalization of $171,852.61, a PE ratio of 37.66, a price-to-earnings-growth ratio of 1.84 and a beta of 1.20. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.66 and a current ratio of 1.66. Mastercard Incorporated has a 12 month low of $104.01 and a 12 month high of $162.52.
Mastercard (NYSE:MA) last released its quarterly earnings results on Tuesday, October 31st. The credit services provider reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. The business had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.28 billion. Mastercard had a return on equity of 78.38% and a net margin of 38.70%. The company’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.08 EPS. equities research analysts expect that Mastercard Incorporated will post 4.54 earnings per share for the current fiscal year.
Mastercard declared that its board has approved a stock buyback program on Monday, December 4th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the credit services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Tuesday, January 9th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, January 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.62%. This is an increase from Mastercard’s previous quarterly dividend of $0.22. Mastercard’s payout ratio is 23.26%.
Several analysts have recently commented on MA shares. Mizuho upgraded Mastercard from a “neutral” rating to a “buy” rating in a research note on Thursday, January 4th. Citigroup raised their target price on Mastercard from $157.00 to $167.00 and gave the company a “buy” rating in a research note on Wednesday, October 18th. Zacks Investment Research downgraded Mastercard from a “buy” rating to a “hold” rating in a research note on Wednesday, November 8th. SunTrust Banks raised their target price on Mastercard to $180.00 and gave the company a “buy” rating in a research note on Wednesday, November 1st. Finally, Wells Fargo & Co upgraded Mastercard from a “market perform” rating to an “outperform” rating and raised their target price for the company from $130.00 to $160.00 in a research note on Wednesday, October 11th. Three analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the company. Mastercard has a consensus rating of “Buy” and a consensus price target of $161.82.
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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