Mastercard Incorporated (NYSE:MA) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. cut its holdings in shares of Mastercard Incorporated (NYSE:MA) by 2.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,115 shares of the credit services provider’s stock after selling 72 shares during the quarter. Mastercard accounts for 0.5% of Cornercap Investment Counsel Inc.’s investment portfolio, making the stock its 29th largest position. Cornercap Investment Counsel Inc.’s holdings in Mastercard were worth $1,640,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Addison Advisors LLC boosted its holdings in Mastercard by 3.8% in the fourth quarter. Addison Advisors LLC now owns 493 shares of the credit services provider’s stock valued at $260,000 after purchasing an additional 18 shares during the period. Capital Investment Advisory Services LLC boosted its stake in shares of Mastercard by 0.6% in the 4th quarter. Capital Investment Advisory Services LLC now owns 3,135 shares of the credit services provider’s stock valued at $1,651,000 after buying an additional 19 shares during the period. Capital Investment Services of America Inc. grew its position in shares of Mastercard by 4.2% during the fourth quarter. Capital Investment Services of America Inc. now owns 475 shares of the credit services provider’s stock worth $250,000 after buying an additional 19 shares in the last quarter. Augustine Asset Management Inc. increased its stake in shares of Mastercard by 1.1% during the fourth quarter. Augustine Asset Management Inc. now owns 1,797 shares of the credit services provider’s stock worth $946,000 after buying an additional 19 shares during the period. Finally, Richard W. Paul & Associates LLC raised its holdings in Mastercard by 0.9% in the fourth quarter. Richard W. Paul & Associates LLC now owns 2,245 shares of the credit services provider’s stock valued at $1,182,000 after acquiring an additional 19 shares in the last quarter. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Mastercard Stock Down 3.0 %

Shares of Mastercard stock opened at $540.57 on Friday. Mastercard Incorporated has a one year low of $428.86 and a one year high of $582.23. The company has a market cap of $492.84 billion, a P/E ratio of 38.92, a PEG ratio of 2.37 and a beta of 1.10. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a fifty day moving average of $550.58 and a two-hundred day moving average of $526.65.

Mastercard (NYSE:MA) last posted 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 net margin of 45.71% and a return on equity of 188.47%. On average, analysts forecast that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Wednesday, April 9th will be issued a $0.76 dividend. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $3.04 annualized dividend and a dividend yield of 0.56%. Mastercard’s dividend payout ratio is currently 21.89%.

Mastercard declared that its Board of Directors has initiated a stock repurchase program on Tuesday, December 17th that permits the company to buyback $12.00 billion in 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 typically an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms have commented on MA. Piper Sandler reiterated an “overweight” rating and set a $635.00 price target (up previously from $591.00) on shares of Mastercard in a report on Friday, January 31st. DZ Bank raised Mastercard from a “hold” rating to a “buy” rating and set a $620.00 target price on the stock in a report on Tuesday, February 4th. Barclays lifted their price target on Mastercard from $595.00 to $650.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. KeyCorp increased their price objective on Mastercard from $600.00 to $630.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, William Blair restated an “outperform” rating on shares of Mastercard in a research note 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $606.11.

Insider Activity at Mastercard

In related news, insider Edward Grunde Mclaughlin sold 7,132 shares of the business’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $534.68, for a total transaction of $3,813,337.76. Following the sale, the insider now owns 34,524 shares of the company’s stock, valued at approximately $18,459,292.32. The trade was a 17.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Miebach sold 15,775 shares of the stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $550.16, for a total transaction of $8,678,774.00. Following the completion of the transaction, the chief executive officer now directly owns 84,871 shares of the company’s stock, valued at approximately $46,692,629.36. This trade represents a 15.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

Mastercard Company 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.