Fortis Capital Management LLC Grows Holdings in Mastercard Incorporated (NYSE:MA)

Fortis Capital Management LLC grew its holdings in Mastercard Incorporated (NYSE:MA) by 0.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,019 shares of the credit services provider’s stock after buying an additional 50 shares during the quarter. Mastercard accounts for 1.1% of Fortis Capital Management LLC’s investment portfolio, making the stock its 24th largest position. Fortis Capital Management LLC’s holdings in Mastercard were worth $5,802,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bank of Montreal Can grew its holdings in shares of Mastercard by 51.7% during the third quarter. Bank of Montreal Can now owns 5,765,714 shares of the credit services provider’s stock worth $2,846,187,000 after buying an additional 1,965,782 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Mastercard during the 4th quarter worth approximately $837,017,000. Proficio Capital Partners LLC raised its position in Mastercard by 79,739.7% in the fourth quarter. Proficio Capital Partners LLC now owns 1,555,277 shares of the credit services provider’s stock valued at $818,962,000 after purchasing an additional 1,553,329 shares during the period. FMR LLC raised its holdings in Mastercard by 3.4% in the 3rd quarter. FMR LLC now owns 21,355,081 shares of the credit services provider’s stock valued at $10,545,139,000 after buying an additional 700,769 shares during the period. Finally, American Century Companies Inc. raised its stake in shares of Mastercard by 12.9% in the 4th quarter. American Century Companies Inc. now owns 5,079,915 shares of the credit services provider’s stock valued at $2,674,932,000 after acquiring an additional 581,697 shares during the period. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Insider Transactions at Mastercard

In other news, insider Edward Grunde Mclaughlin sold 7,132 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $534.68, for a total value of $3,813,337.76. Following the sale, the insider now directly owns 34,524 shares in the company, valued at $18,459,292.32. This represents a 17.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on MA shares. Wells Fargo & Company boosted their price objective on Mastercard from $585.00 to $625.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. UBS Group raised their price objective on shares of Mastercard from $600.00 to $660.00 and gave the company a “buy” rating in a report on Friday, January 31st. JPMorgan Chase & Co. boosted their target price on Mastercard from $590.00 to $610.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. DZ Bank raised shares of Mastercard from a “hold” rating to a “buy” rating and set a $620.00 price target for the company in a research report on Tuesday, February 4th. Finally, Morgan Stanley decreased their price objective on Mastercard from $654.00 to $644.00 and set an “overweight” rating for the company 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. According to data from MarketBeat, Mastercard currently has an average rating of “Moderate Buy” and an average price target of $606.11.

Mastercard Price Performance

Shares of NYSE:MA opened at $535.14 on Friday. 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 firm has a market capitalization of $487.89 billion, a price-to-earnings ratio of 38.53, a price-to-earnings-growth ratio of 2.37 and a beta of 1.10. Mastercard Incorporated has a 12 month low of $428.86 and a 12 month high of $582.23. The business’s 50 day simple moving average is $547.55 and its 200-day simple moving average is $524.65.

Mastercard (NYSE:MA) last released 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%. As a group, equities analysts forecast that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard announced that its board 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 often a sign 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. Shareholders of record on Wednesday, April 9th will be issued a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 0.57%. The ex-dividend date is Wednesday, April 9th. Mastercard’s dividend payout ratio (DPR) is presently 21.89%.

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.