Obermeyer Wood Investment Counsel Lllp Trims Stake in Mastercard Inc (MA)
Obermeyer Wood Investment Counsel Lllp reduced its position in shares of Mastercard Inc (NYSE:MA) by 5.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 300,430 shares of the credit services provider’s stock after selling 17,733 shares during the period. Mastercard comprises about 5.7% of Obermeyer Wood Investment Counsel Lllp’s investment portfolio, making the stock its largest holding. Obermeyer Wood Investment Counsel Lllp’s holdings in Mastercard were worth $66,879,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of MA. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in Mastercard during the second quarter worth about $109,000. Fort L.P. bought a new stake in Mastercard during the second quarter worth about $120,000. Point72 Hong Kong Ltd bought a new stake in Mastercard during the second quarter worth about $131,000. Bogart Wealth LLC raised its holdings in Mastercard by 434.7% during the third quarter. Bogart Wealth LLC now owns 663 shares of the credit services provider’s stock worth $148,000 after acquiring an additional 539 shares in the last quarter. Finally, grace capital bought a new stake in Mastercard during the second quarter worth about $197,000. 74.52% of the stock is owned by institutional investors.
MA has been the topic of several analyst reports. Buckingham Research upped their target price on Mastercard from $222.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, July 27th. SunTrust Banks upped their target price on Mastercard to $240.00 and gave the stock a “buy” rating in a report on Friday, July 27th. They noted that the move was a valuation call. Loop Capital upped their target price on Mastercard to $232.00 and gave the stock a “buy” rating in a report on Friday, July 27th. They noted that the move was a valuation call. Zacks Investment Research reiterated a “buy” rating and set a $210.00 target price on shares of Mastercard in a report on Tuesday, November 13th. Finally, Goldman Sachs Group upgraded Mastercard from a “buy” rating to a “conviction-buy” rating in a report on Monday, September 17th. Two equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $220.82.
Mastercard (NYSE:MA) last released its quarterly earnings data on Tuesday, October 30th. The credit services provider reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.10. The firm had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.86 billion. Mastercard had a return on equity of 114.58% and a net margin of 35.88%. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.34 earnings per share. Equities research analysts predict that Mastercard Inc will post 6.43 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 9th. Stockholders of record on Tuesday, October 9th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, October 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.53%. Mastercard’s dividend payout ratio (DPR) is currently 21.83%.
In other news, Director Richard K. Davis bought 2,475 shares of the stock in a transaction dated Friday, November 2nd. The shares were bought at an average price of $196.37 per share, for a total transaction of $486,015.75. Following the completion of the purchase, the director now owns 3,468 shares in the company, valued at $681,011.16. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.32% of the stock is currently owned by company insiders.
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Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers related products and services.
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