Mastercard Incorporated (MA) Shares Bought by Thornburg Investment Management Inc.
Thornburg Investment Management Inc. boosted its position in Mastercard Incorporated (NYSE:MA) by 3.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 366,102 shares of the credit services provider’s stock after buying an additional 13,851 shares during the quarter. Thornburg Investment Management Inc.’s holdings in Mastercard were worth $51,694,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in MA. Janus Henderson Group PLC increased its holdings in Mastercard by 784.3% in the second quarter. Janus Henderson Group PLC now owns 16,870,229 shares of the credit services provider’s stock valued at $2,048,899,000 after buying an additional 14,962,583 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Mastercard by 289.7% in the second 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 last quarter. Capital Research Global Investors boosted its stake in Mastercard by 15.8% in the second 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 acquiring an additional 1,729,179 shares during the period. Vanguard Group Inc. boosted its stake in Mastercard by 2.3% in the second quarter. Vanguard Group Inc. now owns 65,297,307 shares of the credit services provider’s stock valued at $7,930,357,000 after acquiring an additional 1,490,267 shares during the period. Finally, Egerton Capital UK LLP boosted its stake in Mastercard by 60.6% in the second quarter. Egerton Capital UK LLP now owns 3,923,766 shares of the credit services provider’s stock valued at $476,541,000 after acquiring an additional 1,480,425 shares during the period. 75.61% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have commented on MA shares. Sanford C. Bernstein restated a “buy” rating and issued a $166.00 target price (up from $145.00) on shares of Mastercard in a research note on Monday, October 30th. They noted that the move was a valuation call. KeyCorp restated a “buy” rating and issued a $165.00 target price on shares of Mastercard in a research note on Wednesday, October 18th. Citigroup lifted 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. Buckingham Research started coverage on Mastercard in a research note on Monday, October 2nd. They issued a “buy” rating and a $163.00 target price for the company. Finally, Cowen restated a “buy” rating and issued a $137.00 target price on shares of Mastercard in a research note on Thursday, October 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-eight have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $162.22.
Mastercard (NYSE:MA) last issued its quarterly earnings data on Tuesday, October 31st. The credit services provider reported $1.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 business’s revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.08 earnings per share. research analysts anticipate that Mastercard Incorporated will post 4.55 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Tuesday, January 9th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, January 8th. This is an increase from Mastercard’s previous quarterly dividend of $0.22. This represents a $1.00 annualized dividend and a dividend yield of 0.60%. Mastercard’s payout ratio is currently 23.26%.
Mastercard announced that its board has authorized a share repurchase program on Monday, December 4th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the credit services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
In other news, insider Edward Grunde Mclaughlin sold 17,167 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $151.81, for a total transaction of $2,606,122.27. Following the completion of the transaction, the insider now directly owns 47,901 shares in the company, valued at $7,271,850.81. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.30% of the company’s stock.
Mastercard Company Profile
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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