Cullinan Associates Inc. Reduces Position in Mastercard Incorporated (MA)
Cullinan Associates Inc. lowered its holdings in Mastercard Incorporated (NYSE:MA) by 9.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,340 shares of the credit services provider’s stock after selling 3,880 shares during the period. Cullinan Associates Inc.’s holdings in Mastercard were worth $5,349,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Janus Henderson Group PLC grew its holdings in Mastercard by 784.3% during 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 holdings in Mastercard by 289.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,570,551 shares of the credit services provider’s stock worth $433,643,000 after acquiring an additional 2,654,308 shares in the last quarter. Harding Loevner LP grew its holdings in Mastercard by 170.7% during the 3rd quarter. Harding Loevner LP now owns 3,447,079 shares of the credit services provider’s stock worth $194,599,000 after acquiring an additional 2,173,507 shares in the last quarter. Capital Research Global Investors grew its holdings in Mastercard by 15.8% during the 2nd quarter. Capital Research Global Investors now owns 12,685,589 shares of the credit services provider’s stock worth $1,540,665,000 after acquiring an additional 1,729,179 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Mastercard by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 65,297,307 shares of the credit services provider’s stock worth $7,930,357,000 after acquiring an additional 1,490,267 shares in the last quarter. Hedge funds and other institutional investors own 75.79% of the company’s stock.
MA has been the subject of several analyst reports. KeyCorp reiterated a “buy” rating and set a $165.00 price target on shares of Mastercard in a report on Wednesday, October 18th. Royal Bank of Canada cut shares of Mastercard from a “top pick” rating to an “outperform” rating and set a $130.00 price target for the company. in a report on Thursday, January 4th. Guggenheim reiterated a “buy” rating and set a $201.00 price target on shares of Mastercard in a report on Friday, February 2nd. BMO Capital Markets reiterated an “outperform” rating and set a $174.00 price target (up previously from $157.00) on shares of Mastercard in a report on Wednesday, November 1st. Finally, Piper Jaffray Companies upped their target price on shares of Mastercard from $208.00 to $212.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirty-one have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $176.64.
Mastercard (NYSE:MA) last announced its quarterly earnings data on Thursday, February 1st. The credit services provider reported $1.14 EPS for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.02. The company had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $3.25 billion. Mastercard had a net margin of 31.33% and a return on equity of 83.57%. Mastercard’s quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 EPS. equities analysts forecast that Mastercard Incorporated will post 5.88 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 9th. Shareholders of record on Monday, April 9th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, April 6th. This represents a $1.00 dividend on an annualized basis and a yield of 0.61%. Mastercard’s payout ratio is currently 27.40%.
Mastercard declared that its Board of Directors has approved a share buyback program on Monday, December 4th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the credit services provider to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.
In other Mastercard news, insider Edward Grunde Mclaughlin sold 17,167 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now owns 47,901 shares in the company, valued at approximately $7,271,850.81. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.30% of the stock is currently owned by corporate insiders.
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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