Alliancebernstein L.P. Sells 188,460 Shares of Mastercard Incorporated (NYSE:MA)

Alliancebernstein L.P. cut its position in shares of Mastercard Incorporated (NYSE:MA) by 5.5% during the 4th quarter, HoldingsChannel reports. The firm owned 3,259,707 shares of the credit services provider’s stock after selling 188,460 shares during the period. Mastercard accounts for about 0.6% of Alliancebernstein L.P.’s investment portfolio, making the stock its 27th biggest holding. Alliancebernstein L.P.’s holdings in Mastercard were worth $1,716,464,000 at the end of the most recent quarter.

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

Mastercard Stock Performance

Shares of NYSE MA opened at $540.57 on Monday. Mastercard Incorporated has a 12-month low of $428.86 and a 12-month high of $582.23. The firm has a market capitalization of $492.84 billion, a price-to-earnings ratio of 38.92, a price-to-earnings-growth 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 firm has a 50 day moving average of $550.58 and a 200 day moving average of $527.19.

Mastercard (NYSE:MA) last issued its quarterly earnings data on Thursday, January 30th. The credit services provider reported $3.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.71 by $0.11. Mastercard had a net margin of 45.71% and a return on equity of 188.47%. On average, research analysts anticipate that Mastercard Incorporated will post 15.91 earnings per share for the current year.

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

Mastercard Announces Dividend

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

Insider Transactions at Mastercard

In other news, insider Edward Grunde Mclaughlin sold 7,132 shares of the stock in a transaction 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 sale, the insider now directly owns 34,524 shares of the company’s stock, valued at $18,459,292.32. This represents a 17.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael Miebach sold 15,775 shares of Mastercard stock in a transaction on 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 transaction, the chief executive officer now owns 84,871 shares in the company, valued at approximately $46,692,629.36. This trade represents a 15.67 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on MA shares. Keefe, Bruyette & Woods boosted their price target on Mastercard from $618.00 to $665.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. KeyCorp increased their target price on Mastercard from $600.00 to $630.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Monness Crespi & Hardt raised Mastercard from a “neutral” rating to a “buy” rating and set a $640.00 price target for the company in a research report on Friday, January 31st. Tigress Financial reissued a “strong-buy” rating on shares of Mastercard in a research report on Monday, March 10th. Finally, Seaport Res Ptn cut shares of Mastercard from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Mastercard has an average rating of “Moderate Buy” and a consensus price target 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.