Mastercard Incorporated (NYSE:MA) Shares Sold by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE trimmed its stake in shares of Mastercard Incorporated (NYSE:MA) by 36.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 22,722 shares of the credit services provider’s stock after selling 12,788 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Mastercard were worth $11,966,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of MA. Temasek Holdings Private Ltd increased its position in shares of Mastercard by 2.3% during the third quarter. Temasek Holdings Private Ltd now owns 2,805,554 shares of the credit services provider’s stock worth $1,385,383,000 after purchasing an additional 62,891 shares in the last quarter. Cardano Risk Management B.V. boosted its stake in Mastercard by 2.7% during the 4th quarter. Cardano Risk Management B.V. now owns 368,690 shares of the credit services provider’s stock worth $194,141,000 after purchasing an additional 9,611 shares during the last quarter. Dock Street Asset Management Inc. grew its holdings in shares of Mastercard by 4.5% during the fourth quarter. Dock Street Asset Management Inc. now owns 68,237 shares of the credit services provider’s stock worth $35,932,000 after buying an additional 2,931 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Mastercard by 15.6% in the fourth quarter. Nordea Investment Management AB now owns 2,510,756 shares of the credit services provider’s stock valued at $1,325,353,000 after buying an additional 337,905 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in Mastercard by 4.8% during the third quarter. Principal Financial Group Inc. now owns 3,031,915 shares of the credit services provider’s stock worth $1,497,160,000 after acquiring an additional 138,842 shares during the last quarter. Institutional investors and hedge funds own 97.28% of the company’s stock.

Mastercard Stock Up 1.5 %

Shares of NYSE MA opened at $543.82 on Tuesday. Mastercard Incorporated has a 12-month low of $428.86 and a 12-month high of $582.23. The stock has a market cap of $495.81 billion, a P/E ratio of 39.15, a PEG ratio of 2.37 and a beta of 1.10. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.68. The business’s fifty day simple moving average is $548.32 and its 200-day simple moving average is $525.42.

Mastercard (NYSE:MA) last announced its quarterly earnings data on Thursday, January 30th. The credit services provider reported $3.82 earnings per share (EPS) for the quarter, beating 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 predict that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Mastercard declared that its Board of Directors has initiated a share buyback plan on Tuesday, December 17th that allows the company to repurchase $12.00 billion in shares. This repurchase authorization allows the credit services provider to repurchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Mastercard Announces Dividend

The company 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 dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Wednesday, April 9th. Mastercard’s dividend payout ratio (DPR) is presently 21.89%.

Insider Buying and Selling at Mastercard

In other news, insider Edward Grunde Mclaughlin sold 7,132 shares of the stock in a transaction dated 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 transaction, the insider now owns 34,524 shares in the company, valued at approximately $18,459,292.32. This represents a 17.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Morgan Stanley lowered their target price on Mastercard from $654.00 to $644.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Jefferies Financial Group upped their target price on Mastercard from $590.00 to $610.00 and gave the company a “buy” rating in a report on Monday, December 9th. 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. Susquehanna upped their price objective on shares of Mastercard from $605.00 to $670.00 and gave the company a “positive” rating in a report on Friday, January 31st. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Mastercard from $618.00 to $665.00 and gave the stock an “outperform” rating 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 given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $606.11.

About Mastercard

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.