Hexavest Inc. Has $67.33 Million Stake in Mastercard Inc (NYSE:MA)

Hexavest Inc. decreased its holdings in shares of Mastercard Inc (NYSE:MA) by 48.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 225,507 shares of the credit services provider’s stock after selling 215,114 shares during the period. Hexavest Inc.’s holdings in Mastercard were worth $67,334,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. United Bank raised its position in shares of Mastercard by 114.2% during the 2nd quarter. United Bank now owns 2,061 shares of the credit services provider’s stock valued at $545,000 after acquiring an additional 1,099 shares in the last quarter. Smith Asset Management Group LP bought a new stake in Mastercard during the second quarter worth $18,541,000. Keudell Morrison Wealth Management lifted its stake in Mastercard by 798.9% during the second quarter. Keudell Morrison Wealth Management now owns 13,807 shares of the credit services provider’s stock worth $3,652,000 after purchasing an additional 12,271 shares during the last quarter. Pictet Asset Management Ltd. lifted its stake in Mastercard by 1.1% during the second quarter. Pictet Asset Management Ltd. now owns 702,454 shares of the credit services provider’s stock worth $185,820,000 after purchasing an additional 7,600 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC lifted its stake in shares of Mastercard by 209.3% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 13,112 shares of the credit services provider’s stock valued at $1,150,000 after acquiring an additional 8,873 shares during the last quarter. 73.84% of the stock is currently owned by institutional investors and hedge funds.

In other news, major shareholder Foundation Mastercard sold 7,542 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $261.82, for a total transaction of $1,974,646.44. Following the completion of the sale, the insider now directly owns 111,969,978 shares of the company’s stock, valued at $29,315,979,639.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michael Miebach sold 4,205 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $315.00, for a total value of $1,324,575.00. Following the sale, the insider now directly owns 16,983 shares of the company’s stock, valued at $5,349,645. The disclosure for this sale can be found here. Insiders have sold a total of 121,566 shares of company stock worth $34,539,929 over the last three months. 3.70% of the stock is currently owned by corporate insiders.

A number of research analysts have recently commented on MA shares. SunTrust Banks increased their price target on Mastercard from $325.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Moffett Nathanson raised their target price on Mastercard from to and gave the company a “buy” rating in a research note on Tuesday, January 7th. Morgan Stanley raised their price target on shares of Mastercard from $317.00 to $338.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. BMO Capital Markets raised their price target on shares of Mastercard to $348.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. They noted that the move was a valuation call. Finally, Oppenheimer raised their price target on shares of Mastercard from $312.00 to $345.00 and gave the company an “outperform” rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $317.64.

Shares of MA traded up $3.65 during mid-day trading on Thursday, reaching $317.90. 1,370,025 shares of the company’s stock were exchanged, compared to its average volume of 2,666,063. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.39 and a quick ratio of 1.39. The stock has a market capitalization of $313.39 billion, a PE ratio of 48.98, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03. The business’s fifty day simple moving average is $297.86 and its 200-day simple moving average is $280.97. Mastercard Inc has a 52-week low of $196.50 and a 52-week high of $316.42.

Mastercard (NYSE:MA) last posted its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.14. The firm had revenue of $4.47 billion for the quarter, compared to analyst estimates of $4.41 billion. Mastercard had a net margin of 42.50% and a return on equity of 146.92%. Mastercard’s quarterly revenue was up 14.6% on a year-over-year basis. During the same period last year, the firm posted $1.78 EPS. Equities research analysts predict that Mastercard Inc will post 7.69 earnings per share for the current year.

Mastercard announced that its Board of Directors has approved a stock repurchase plan on Tuesday, December 3rd that authorizes the company to buyback $8.00 billion in shares. This buyback authorization authorizes the credit services provider to repurchase up to 2.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Thursday, January 9th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, January 8th. This is a positive change from Mastercard’s previous quarterly dividend of $0.33. This represents a $1.60 annualized dividend and a yield of 0.50%. Mastercard’s payout ratio is 24.65%.

About Mastercard

Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers related products and services.

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Institutional Ownership by Quarter for Mastercard (NYSE:MA)

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