DAVENPORT & Co LLC Buys 1,231 Shares of Mastercard Incorporated (NYSE:MA)

DAVENPORT & Co LLC raised its stake in Mastercard Incorporated (NYSE:MAFree Report) by 0.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 302,718 shares of the credit services provider’s stock after purchasing an additional 1,231 shares during the period. Mastercard makes up approximately 0.9% of DAVENPORT & Co LLC’s holdings, making the stock its 26th biggest position. DAVENPORT & Co LLC’s holdings in Mastercard were worth $129,000,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cypress Wealth Services LLC lifted its holdings in shares of Mastercard by 2.9% in the fourth quarter. Cypress Wealth Services LLC now owns 864 shares of the credit services provider’s stock worth $369,000 after acquiring an additional 24 shares during the last quarter. Syntegra Private Wealth Group LLC lifted its holdings in shares of Mastercard by 1.2% in the fourth quarter. Syntegra Private Wealth Group LLC now owns 1,996 shares of the credit services provider’s stock worth $851,000 after acquiring an additional 24 shares during the last quarter. Cassia Capital Partners LLC increased its stake in shares of Mastercard by 2.1% in the third quarter. Cassia Capital Partners LLC now owns 1,240 shares of the credit services provider’s stock valued at $491,000 after buying an additional 26 shares during the period. Armstrong Advisory Group Inc. increased its position in Mastercard by 8.4% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 348 shares of the credit services provider’s stock valued at $138,000 after purchasing an additional 27 shares during the period. Finally, Visionary Wealth Advisors increased its position in Mastercard by 0.5% during the 3rd quarter. Visionary Wealth Advisors now owns 5,311 shares of the credit services provider’s stock valued at $2,103,000 after purchasing an additional 27 shares during the period. 97.28% of the stock is owned by institutional investors.

Mastercard Stock Up 0.2 %

MA traded up $1.03 during trading on Tuesday, reaching $479.43. The stock had a trading volume of 2,771,481 shares, compared to its average volume of 2,443,510. The stock’s 50 day moving average is $466.86 and its two-hundred day moving average is $427.90. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 2.06. The company has a market capitalization of $447.26 billion, a price-to-earnings ratio of 40.44, a P/E/G ratio of 1.83 and a beta of 1.08. Mastercard Incorporated has a one year low of $355.97 and a one year high of $490.00.

Mastercard (NYSE:MAGet Free Report) last issued its quarterly earnings results on Wednesday, January 31st. The credit services provider reported $3.18 earnings per share for the quarter, beating the consensus estimate of $3.08 by $0.10. Mastercard had a return on equity of 191.22% and a net margin of 44.60%. The firm had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.46 billion. During the same period last year, the company earned $2.65 earnings per share. As a group, analysts expect that Mastercard Incorporated will post 14.35 earnings per share for the current year.

Mastercard Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Tuesday, April 9th will be issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Monday, April 8th. Mastercard’s dividend payout ratio (DPR) is 22.32%.

Mastercard announced that its Board of Directors has authorized a share repurchase program on Tuesday, December 5th that authorizes the company to buyback $11.00 billion in shares. This buyback authorization authorizes the credit services provider to repurchase up to 2.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MA. Wells Fargo & Company raised their price objective on shares of Mastercard from $490.00 to $530.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. Jefferies Financial Group lifted their price objective on shares of Mastercard from $425.00 to $480.00 and gave the stock a “buy” rating in a report on Tuesday, December 12th. The Goldman Sachs Group lifted their price objective on shares of Mastercard from $433.00 to $482.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. KeyCorp lifted their price objective on shares of Mastercard from $475.00 to $490.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Finally, BMO Capital Markets lifted their price objective on shares of Mastercard from $480.00 to $490.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Two equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $479.62.

Check Out Our Latest Stock Report on Mastercard

Insider Transactions at Mastercard

In other news, insider Craig Vosburg sold 8,900 shares of Mastercard stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $430.26, for a total value of $3,829,314.00. Following the completion of the transaction, the insider now owns 46,491 shares in the company, valued at approximately $20,003,217.66. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Craig Vosburg sold 8,900 shares of the business’s stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $430.26, for a total transaction of $3,829,314.00. Following the completion of the transaction, the insider now owns 46,491 shares in the company, valued at approximately $20,003,217.66. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Foundation Mastercard sold 200 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $487.25, for a total value of $97,450.00. Following the transaction, the insider now owns 97,543,308 shares of the company’s stock, valued at approximately $47,527,976,823. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,628 shares of company stock worth $23,309,067. 0.13% of the stock is currently owned by company insiders.

About Mastercard

(Free Report)

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.

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Institutional Ownership by Quarter for Mastercard (NYSE:MA)

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