Saybrook Capital NC Reduces Stake in Mastercard Inc (MA)
Saybrook Capital NC decreased its holdings in Mastercard Inc (NYSE:MA) by 2.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,773 shares of the credit services provider’s stock after selling 400 shares during the period. Mastercard comprises 1.6% of Saybrook Capital NC’s portfolio, making the stock its 20th largest holding. Saybrook Capital NC’s holdings in Mastercard were worth $3,734,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Baker Ellis Asset Management LLC acquired a new position in Mastercard in the third quarter worth approximately $104,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in Mastercard in the second quarter worth approximately $109,000. Fort L.P. acquired a new position in Mastercard in the second quarter worth approximately $120,000. Point72 Hong Kong Ltd acquired a new position in Mastercard in the second quarter worth approximately $131,000. Finally, Bogart Wealth LLC increased its holdings in Mastercard by 434.7% in the third quarter. Bogart Wealth LLC now owns 663 shares of the credit services provider’s stock worth $148,000 after buying an additional 539 shares during the last quarter. Institutional investors own 74.84% of the company’s stock.
In other Mastercard news, Director Richard K. Davis acquired 2,475 shares of Mastercard stock in a transaction dated Friday, November 2nd. The stock was bought at an average cost of $196.37 per share, with a total value of $486,015.75. Following the completion of the transaction, the director now owns 3,468 shares of the company’s stock, valued at $681,011.16. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.32% of the stock is currently owned by corporate insiders.
Mastercard (NYSE:MA) last announced its earnings results on Tuesday, October 30th. The credit services provider reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. The firm had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $3.86 billion. Mastercard had a return on equity of 114.58% and a net margin of 35.88%. The company’s revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.34 earnings per share. As a group, equities analysts predict that Mastercard Inc will post 6.43 EPS for the current fiscal year.
Mastercard announced that its board has authorized a stock repurchase plan on Tuesday, December 4th that allows the company to repurchase $6.50 million in shares. This repurchase authorization allows the credit services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 8th. Shareholders of record on Wednesday, January 9th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, January 8th. This represents a $1.32 dividend on an annualized basis and a yield of 0.67%. This is a boost from Mastercard’s previous quarterly dividend of $0.25. Mastercard’s dividend payout ratio is presently 21.83%.
A number of equities analysts recently commented on MA shares. Zacks Investment Research upgraded Mastercard from a “hold” rating to a “buy” rating and set a $216.00 price objective on the stock in a report on Thursday, November 29th. Goldman Sachs Group upgraded Mastercard from a “buy” rating to a “conviction-buy” rating in a report on Monday, September 17th. Loop Capital set a $232.00 price objective on Mastercard and gave the stock a “buy” rating in a report on Wednesday, October 31st. Barclays started coverage on Mastercard in a report on Wednesday, November 14th. They issued an “overweight” rating and a $240.00 price objective on the stock. Finally, Credit Suisse Group increased their price objective on Mastercard from $210.00 to $224.00 and gave the stock an “outperform” rating in a report on Monday, October 8th. Three research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $221.28.
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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