560 Shares in Mastercard Incorporated (NYSE:MA) Acquired by Payden & Rygel Investment Group

Payden & Rygel Investment Group purchased a new position in shares of Mastercard Incorporated (NYSE:MAFree Report) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 560 shares of the credit services provider’s stock, valued at approximately $222,000.

A number of other institutional investors have also added to or reduced their stakes in MA. State Street Corp increased its holdings in Mastercard by 1.4% during the 2nd quarter. State Street Corp now owns 35,255,582 shares of the credit services provider’s stock worth $13,866,020,000 after purchasing an additional 495,768 shares in the last quarter. Capital International Investors increased its holdings in Mastercard by 6.8% during the 2nd quarter. Capital International Investors now owns 19,377,705 shares of the credit services provider’s stock worth $7,620,937,000 after purchasing an additional 1,240,661 shares in the last quarter. Geode Capital Management LLC increased its holdings in Mastercard by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 16,643,273 shares of the credit services provider’s stock worth $6,529,235,000 after purchasing an additional 274,679 shares in the last quarter. Morgan Stanley increased its holdings in Mastercard by 17.7% during the 4th quarter. Morgan Stanley now owns 15,843,692 shares of the credit services provider’s stock worth $5,509,328,000 after purchasing an additional 2,385,640 shares in the last quarter. Finally, Norges Bank bought a new stake in Mastercard during the 4th quarter worth approximately $3,308,223,000. 74.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on MA shares. Seaport Res Ptn reissued a “buy” rating on shares of Mastercard in a report on Thursday, October 12th. HSBC started coverage on Mastercard in a report on Friday, October 13th. They issued a “hold” rating and a $424.00 target price for the company. Barclays reduced their target price on Mastercard from $479.00 to $470.00 and set an “overweight” rating for the company in a report on Monday, October 30th. Tigress Financial upped their target price on Mastercard from $476.00 to $495.00 and gave the company a “strong-buy” rating in a report on Thursday, December 7th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $510.00 target price on shares of Mastercard in a report on Thursday, February 1st. Two investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Mastercard has a consensus rating of “Moderate Buy” and a consensus target price of $471.85.

Check Out Our Latest Analysis on MA

Insiders Place Their Bets

In other Mastercard news, insider Craig Vosburg sold 13,542 shares of Mastercard stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $460.06, for a total value of $6,230,132.52. Following the completion of the sale, the insider now owns 46,491 shares of the company’s stock, valued at approximately $21,388,649.46. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Mastercard news, insider Ajay Bhalla sold 98 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $439.52, for a total value of $43,072.96. Following the sale, the insider now owns 6,235 shares in the company, valued at approximately $2,740,407.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Craig Vosburg sold 13,542 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $460.06, for a total transaction of $6,230,132.52. Following the sale, the insider now owns 46,491 shares in the company, valued at $21,388,649.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 156,356 shares of company stock valued at $62,625,857. Company insiders own 0.13% of the company’s stock.

Mastercard Stock Down 0.1 %

Shares of MA stock traded down $0.68 during trading hours on Tuesday, hitting $456.08. 259,492 shares of the company’s stock traded hands, compared to its average volume of 2,489,022. The stock’s fifty day simple moving average is $426.64 and its two-hundred day simple moving average is $408.30. Mastercard Incorporated has a 12-month low of $340.21 and a 12-month high of $463.84. The stock has a market cap of $427.70 billion, a price-to-earnings ratio of 38.61, a PEG ratio of 1.76 and a beta of 1.08. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 2.06.

Mastercard (NYSE:MAGet Free Report) last released its earnings results on Wednesday, January 31st. The credit services provider reported $3.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.08 by $0.10. Mastercard had a net margin of 44.60% and a return on equity of 191.22%. The firm had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.46 billion. During the same period last year, the business earned $2.65 earnings per share. On average, analysts expect that Mastercard Incorporated will post 14.33 EPS for the current year.

Mastercard Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Tuesday, January 9th will be issued a $0.66 dividend. This is a positive change from Mastercard’s previous quarterly dividend of $0.57. This represents a $2.64 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend is Monday, January 8th. Mastercard’s payout ratio is presently 22.32%.

Mastercard announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, December 5th that allows the company to buyback $11.00 billion in outstanding shares. This buyback authorization allows the credit services provider to repurchase up to 2.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

About Mastercard

(Free Report)

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 other payment-related products and services.

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Institutional Ownership by Quarter for Mastercard (NYSE:MA)

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