Mastercard Incorporated (NYSE:MA) Stake Cut by Connable Office Inc.

Connable Office Inc. reduced its holdings in Mastercard Incorporated (NYSE:MA) by 2.7% in the 4th quarter, Holdings Channel reports. The fund owned 12,791 shares of the credit services provider’s stock after selling 358 shares during the period. Mastercard makes up about 0.7% of Connable Office Inc.’s portfolio, making the stock its 24th biggest position. Connable Office Inc.’s holdings in Mastercard were worth $6,735,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MA. Bank of Montreal Can lifted its stake in Mastercard by 51.7% in the 3rd quarter. Bank of Montreal Can now owns 5,765,714 shares of the credit services provider’s stock worth $2,846,187,000 after acquiring an additional 1,965,782 shares in the last quarter. Proficio Capital Partners LLC raised its stake in shares of Mastercard by 79,739.7% during the 4th quarter. Proficio Capital Partners LLC now owns 1,555,277 shares of the credit services provider’s stock worth $818,962,000 after purchasing an additional 1,553,329 shares in the last quarter. FMR LLC raised its stake in shares of Mastercard by 3.4% during the 3rd quarter. FMR LLC now owns 21,355,081 shares of the credit services provider’s stock worth $10,545,139,000 after purchasing an additional 700,769 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Mastercard by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 18,375,053 shares of the credit services provider’s stock worth $9,043,972,000 after purchasing an additional 453,773 shares in the last quarter. Finally, Montrusco Bolton Investments Inc. raised its stake in shares of Mastercard by 52.8% during the 3rd quarter. Montrusco Bolton Investments Inc. now owns 1,185,081 shares of the credit services provider’s stock worth $573,017,000 after purchasing an additional 409,334 shares in the last quarter. 97.28% of the stock is owned by hedge funds and other institutional investors.

Mastercard Price Performance

Shares of MA stock opened at $576.08 on Friday. The stock has a 50 day moving average of $542.83 and a two-hundred day moving average of $517.21. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.68. Mastercard Incorporated has a 12 month low of $428.86 and a 12 month high of $576.94. The company has a market capitalization of $525.22 billion, a P/E ratio of 41.47, a P/E/G ratio of 2.37 and a beta of 1.10.

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

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

Mastercard Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Wednesday, April 9th will be given a $0.76 dividend. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.53%. Mastercard’s dividend payout ratio is currently 21.89%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MA. Macquarie raised their price target on Mastercard from $565.00 to $645.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. BMO Capital Markets raised their price target on Mastercard from $550.00 to $565.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Oppenheimer cut 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. William Blair reaffirmed an “outperform” rating on shares of Mastercard in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. increased their price objective on Mastercard from $590.00 to $610.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Four equities 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $606.11.

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.