Veritas Asset Management LLP Sells 578,335 Shares of Mastercard Incorporated (NYSE:MA)

Veritas Asset Management LLP lessened its holdings in shares of Mastercard Incorporated (NYSE:MA) by 40.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 867,937 shares of the credit services provider’s stock after selling 578,335 shares during the period. Mastercard accounts for about 4.3% of Veritas Asset Management LLP’s portfolio, making the stock its 12th largest position. Veritas Asset Management LLP’s holdings in Mastercard were worth $457,030,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in MA. Highline Wealth Partners LLC acquired a new stake in shares of Mastercard during the third quarter worth about $25,000. Marshall Investment Management LLC acquired a new stake in Mastercard in the 4th quarter valued at approximately $30,000. First Personal Financial Services acquired a new stake in Mastercard in the 3rd quarter valued at approximately $39,000. FPC Investment Advisory Inc. raised its position in Mastercard by 483.3% in the 4th quarter. FPC Investment Advisory Inc. now owns 70 shares of the credit services provider’s stock valued at $39,000 after buying an additional 58 shares during the last quarter. Finally, FSA Wealth Management LLC acquired a new stake in Mastercard in the 3rd quarter valued at approximately $54,000. Institutional investors own 97.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MA. Oppenheimer decreased their price target on Mastercard from $591.00 to $588.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. Tigress Financial raised their price target on Mastercard from $550.00 to $685.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. raised their price target on Mastercard from $590.00 to $610.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods lifted their target price on Mastercard from $618.00 to $665.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Finally, Citigroup lifted their target price on Mastercard from $584.00 to $650.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $606.11.

Mastercard Stock Performance

NYSE:MA opened at $558.44 on Tuesday. The company has a market capitalization of $509.13 billion, a P/E ratio of 40.20, a P/E/G ratio of 2.37 and a beta of 1.10. Mastercard Incorporated has a 1 year low of $428.86 and a 1 year high of $576.94. 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 business has a fifty day simple moving average of $539.55 and a two-hundred day simple moving average of $514.96.

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

Mastercard declared that its Board of Directors has initiated a share repurchase plan on Tuesday, December 17th that allows the company to buyback $12.00 billion in outstanding shares. This buyback authorization allows the credit services provider to reacquire up to 2.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Mastercard Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Wednesday, April 9th will be issued a dividend of $0.76 per share. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $3.04 dividend on an annualized basis and a yield of 0.54%. Mastercard’s dividend payout ratio is presently 21.89%.

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.