Mastercard Incorporated (MA) Shares Sold by Laurel Grove Capital LLC
Laurel Grove Capital LLC lowered its stake in shares of Mastercard Incorporated (NYSE:MA) by 4.1% in the fourth quarter, Holdings Channel reports. The fund owned 24,850 shares of the credit services provider’s stock after selling 1,050 shares during the quarter. Mastercard makes up about 1.9% of Laurel Grove Capital LLC’s portfolio, making the stock its 19th largest position. Laurel Grove Capital LLC’s holdings in Mastercard were worth $3,761,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Cornerstone Financial Partners LLC acquired a new position in shares of Mastercard during the 4th quarter valued at about $314,000. Steward Partners Investment Advisory LLC increased its stake in shares of Mastercard by 473.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 41,603 shares of the credit services provider’s stock valued at $6,297,000 after acquiring an additional 34,350 shares during the last quarter. Intermede Investment Partners Ltd increased its stake in shares of Mastercard by 5.1% during the 4th quarter. Intermede Investment Partners Ltd now owns 461,275 shares of the credit services provider’s stock valued at $69,819,000 after acquiring an additional 22,272 shares during the last quarter. TRUE Private Wealth Advisors acquired a new position in shares of Mastercard during the 4th quarter valued at about $220,000. Finally, Personal Capital Advisors Corp increased its stake in shares of Mastercard by 2.2% during the 4th quarter. Personal Capital Advisors Corp now owns 279,074 shares of the credit services provider’s stock valued at $42,241,000 after acquiring an additional 5,973 shares during the last quarter. 75.66% of the stock is owned by institutional investors.
A number of research firms have recently commented on MA. Barclays upped their price objective on shares of Mastercard from $170.00 to $178.00 and gave the company an “overweight” rating in a research note on Tuesday, January 30th. Argus upgraded Mastercard from a “hold” rating to a “buy” rating and set a $200.00 target price for the company in a report on Friday, February 2nd. KeyCorp boosted their target price on Mastercard from $170.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Zacks Investment Research cut Mastercard from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, Sanford C. Bernstein reiterated a “buy” rating and set a $180.00 target price (up previously from $166.00) on shares of Mastercard in a report on Monday, December 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirty-one have issued a buy rating to the company. Mastercard has a consensus rating of “Buy” and a consensus target price of $176.64.
Mastercard (NYSE:MA) last released its quarterly earnings results on Thursday, February 1st. The credit services provider reported $1.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.02. The firm had revenue of $3.31 billion during the quarter, compared to analysts’ expectations of $3.25 billion. Mastercard had a return on equity of 83.57% and a net margin of 31.33%. Mastercard’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.86 EPS. equities analysts forecast that Mastercard Incorporated will post 5.88 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 9th. Shareholders of record on Monday, April 9th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend is Friday, April 6th. Mastercard’s dividend payout ratio is presently 27.40%.
Mastercard declared that its board has approved a stock buyback plan on Monday, December 4th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the credit services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
In other Mastercard news, insider Edward Grunde Mclaughlin sold 17,167 shares of the company’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 value 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.30% of the stock is owned by corporate insiders.
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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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