Fisher Funds Management LTD Makes New Investment in Mastercard Incorporated (NYSE:MA)

Fisher Funds Management LTD purchased a new stake in shares of Mastercard Incorporated (NYSE:MA) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 278,931 shares of the credit services provider’s stock, valued at approximately $146,991,000. Mastercard makes up approximately 3.5% of Fisher Funds Management LTD’s investment portfolio, making the stock its 4th biggest position.

Other institutional investors also recently modified their holdings of the company. Highline Wealth Partners LLC purchased a new position in Mastercard in the 3rd quarter worth about $25,000. First Personal Financial Services bought a new stake in shares of Mastercard in the third quarter worth approximately $39,000. FSA Wealth Management LLC purchased a new position in shares of Mastercard during the third quarter valued at approximately $54,000. Raelipskie Partnership lifted its position in Mastercard by 120.0% during the third quarter. Raelipskie Partnership now owns 110 shares of the credit services provider’s stock valued at $54,000 after purchasing an additional 60 shares during the period. Finally, Legacy Investment Solutions LLC purchased a new stake in Mastercard in the third quarter worth approximately $55,000. 97.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on MA shares. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Mastercard from $510.00 to $580.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Mizuho upped their price objective on Mastercard from $496.00 to $532.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. KeyCorp raised their target price on Mastercard from $600.00 to $630.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. TD Cowen upped their price target on shares of Mastercard from $533.00 to $567.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Citigroup raised their price objective on shares of Mastercard from $584.00 to $650.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Mastercard has an average rating of “Moderate Buy” and an average price target of $606.11.

Mastercard Trading Down 1.0 %

Mastercard stock opened at $557.44 on Friday. Mastercard Incorporated has a 1 year low of $428.86 and a 1 year high of $576.94. The firm’s 50 day moving average price is $538.98 and its 200-day moving average price is $513.78. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market cap of $508.22 billion, a P/E ratio of 40.13, a PEG ratio of 2.37 and a beta of 1.10.

Mastercard (NYSE:MA) last announced its quarterly earnings results on Thursday, January 30th. The credit services provider reported $3.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.71 by $0.11. Mastercard had a net margin of 45.71% and a return on equity of 188.47%. On average, equities analysts predict that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Wednesday, April 9th will be given a $0.76 dividend. The ex-dividend date is Wednesday, April 9th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.55%. Mastercard’s dividend payout ratio is currently 21.89%.

Mastercard announced that its Board of Directors has initiated a stock buyback program on Tuesday, December 17th that permits the company to buyback $12.00 billion in outstanding shares. This buyback authorization permits the credit services provider to purchase up to 2.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Mastercard Profile

Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. The company offers integrated products and value-added services for account holders, merchants, financial institutions, digital partners, businesses, governments, and other organizations, such as programs that enable issuers to provide consumers with credits to defer payments; payment products and solutions that allow its customers to access funds in deposit and other accounts; prepaid programs services; and commercial credit, debit, and prepaid payment products and solutions.