Mastercard Inc (MA) Position Lowered by Global Trust Asset Management LLC
Global Trust Asset Management LLC decreased its stake in Mastercard Inc (NYSE:MA) by 29.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 8,312 shares of the credit services provider’s stock after selling 3,552 shares during the quarter. Mastercard accounts for approximately 1.4% of Global Trust Asset Management LLC’s portfolio, making the stock its 15th biggest position. Global Trust Asset Management LLC’s holdings in Mastercard were worth $1,568,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Cognios Capital LLC raised its position in Mastercard by 18.0% during the second quarter. Cognios Capital LLC now owns 6,562 shares of the credit services provider’s stock worth $1,289,000 after acquiring an additional 1,003 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Mastercard by 35.1% in the second quarter. SG Americas Securities LLC now owns 1,475 shares of the credit services provider’s stock valued at $290,000 after buying an additional 383 shares during the last quarter. FMR LLC raised its position in shares of Mastercard by 6.0% in the second quarter. FMR LLC now owns 39,120,141 shares of the credit services provider’s stock valued at $7,687,891,000 after buying an additional 2,229,947 shares during the last quarter. Burney Co. raised its position in shares of Mastercard by 4.6% in the second quarter. Burney Co. now owns 78,188 shares of the credit services provider’s stock valued at $15,366,000 after buying an additional 3,427 shares during the last quarter. Finally, BlueMountain Capital Management LLC raised its position in shares of Mastercard by 7,521.7% in the second quarter. BlueMountain Capital Management LLC now owns 5,259 shares of the credit services provider’s stock valued at $1,033,000 after buying an additional 5,190 shares during the last quarter. Hedge funds and other institutional investors own 74.53% of the company’s stock.
MA has been the subject of a number of analyst reports. Edward Jones raised shares of Mastercard from a “hold” rating to a “buy” rating in a research report on Wednesday, December 26th. Goldman Sachs Group raised shares of Mastercard from a “buy” rating to a “conviction-buy” rating in a research report on Monday, September 17th. Credit Suisse Group boosted their price objective on shares of Mastercard from $210.00 to $224.00 and gave the company an “outperform” rating in a research report on Monday, October 8th. BMO Capital Markets initiated coverage on shares of Mastercard in a research report on Wednesday, September 26th. They issued an “outperform” rating and a $238.00 price objective for the company. Finally, Wells Fargo & Co boosted their price objective on shares of Mastercard from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Monday, October 1st. Three analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $220.20.
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, topping the consensus estimate of $1.68 by $0.10. Mastercard had a net margin of 35.88% and a return on equity of 114.58%. The company had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $3.86 billion. During the same period in the previous year, the firm earned $1.34 earnings per share. Mastercard’s revenue for the quarter was up 14.7% on a year-over-year basis. Research analysts anticipate that Mastercard Inc will post 6.44 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 8th. Shareholders of record on Wednesday, January 9th will be paid a dividend of $0.33 per share. This is an increase from Mastercard’s previous quarterly dividend of $0.25. This represents a $1.32 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Tuesday, January 8th. Mastercard’s payout ratio is currently 28.82%.
Mastercard declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, December 4th that permits the company to repurchase $6.50 billion in shares. This repurchase authorization permits the credit services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
In other news, Director Richard K. Davis bought 2,475 shares of the firm’s stock in a transaction dated Friday, November 2nd. The stock was acquired at an average cost 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 of the company’s stock, valued at $681,011.16. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard Haythornthwaite sold 5,000 shares of the company’s stock in a transaction on Monday, December 17th. The shares were sold at an average price of $192.00, for a total transaction of $960,000.00. Following the completion of the transaction, the director now owns 40,183 shares of the company’s stock, valued at $7,715,136. The disclosure for this sale can be found here. 0.32% of the stock is owned by 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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