Meeder Asset Management Inc. Increases Position in Mastercard Incorporated (NYSE:MA)

Meeder Asset Management Inc. boosted its holdings in Mastercard Incorporated (NYSE:MA) by 493.5% in the fourth quarter, HoldingsChannel reports. The firm owned 70,591 shares of the credit services provider’s stock after purchasing an additional 58,697 shares during the period. Mastercard makes up about 2.6% of Meeder Asset Management Inc.’s investment portfolio, making the stock its 10th biggest holding. Meeder Asset Management Inc.’s holdings in Mastercard were worth $37,171,000 as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in the business. NewSquare Capital LLC bought a new position in shares of Mastercard during the 4th quarter worth about $26,000. Marshall Investment Management LLC acquired a new position in Mastercard during the 4th quarter worth approximately $30,000. Halbert Hargrove Global Advisors LLC bought a new position in Mastercard in the fourth quarter worth approximately $32,000. Truvestments Capital LLC grew its stake in Mastercard by 62.5% in the fourth quarter. Truvestments Capital LLC now owns 65 shares of the credit services provider’s stock valued at $34,000 after acquiring an additional 25 shares during the period. Finally, CoreFirst Bank & Trust bought a new stake in shares of Mastercard during the fourth quarter valued at approximately $37,000. 97.28% of the stock is currently owned by institutional investors.

Insider Activity

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

Analyst Ratings Changes

A number of analysts have commented on the stock. Morgan Stanley decreased their price target on shares of Mastercard from $654.00 to $644.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Raymond James reissued an “outperform” rating and set a $640.00 target price (up from $614.00) on shares of Mastercard in a research report on Friday, January 31st. UBS Group raised their price target on shares of Mastercard from $600.00 to $660.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Tigress Financial reissued a “strong-buy” rating on shares of Mastercard in a report on Monday, March 10th. Finally, JPMorgan Chase & Co. raised their target price 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 issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $606.11.

Mastercard Stock Down 3.0 %

MA stock opened at $540.57 on Monday. Mastercard Incorporated has a fifty-two week low of $428.86 and a fifty-two week high of $582.23. The stock has a fifty day moving average of $550.58 and a 200-day moving average of $527.19. The company has a market capitalization of $492.84 billion, a price-to-earnings 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.

Mastercard (NYSE:MA) last posted its earnings results on Thursday, January 30th. The credit services provider reported $3.82 earnings per share 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%. As a group, equities research analysts predict that Mastercard Incorporated will post 15.91 earnings per share for the current year.

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

Mastercard Dividend Announcement

The business 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. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date is Wednesday, April 9th. Mastercard’s payout ratio is currently 21.89%.

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.