GAM Holding AG lifted its stake in shares of Mastercard Inc (NYSE:MA) by 654.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,664 shares of the credit services provider’s stock after purchasing an additional 37,010 shares during the period. GAM Holding AG’s holdings in Mastercard were worth $9,498,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in MA. Baker Ellis Asset Management LLC acquired a new position in Mastercard in the third quarter valued at approximately $104,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in Mastercard in the second quarter valued at approximately $109,000. Fort L.P. acquired a new position in Mastercard in the second quarter valued at approximately $120,000. Point72 Hong Kong Ltd acquired a new position in Mastercard in the second quarter valued at approximately $131,000. Finally, Bogart Wealth LLC lifted its holdings in Mastercard by 434.7% in the third quarter. Bogart Wealth LLC now owns 663 shares of the credit services provider’s stock valued at $148,000 after buying an additional 539 shares during the period. Institutional investors own 74.84% of the company’s stock.
Shares of MA stock opened at $196.50 on Friday. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.01. Mastercard Inc has a 12-month low of $149.17 and a 12-month high of $225.35. The firm has a market cap of $209.65 billion, a PE ratio of 33.39, a P/E/G ratio of 1.74 and a beta of 1.21.
Mastercard (NYSE:MA) last issued its quarterly earnings data on Tuesday, October 30th. The credit services provider reported $1.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.10. Mastercard had a net margin of 35.88% and a return on equity of 114.58%. The company had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $3.86 billion. During the same quarter in the prior year, the firm earned $1.34 earnings per share. The firm’s revenue was up 14.7% compared to the same quarter last year. On average, research analysts anticipate that Mastercard Inc will post 6.43 EPS for the current fiscal year.
Mastercard announced that its Board of Directors has initiated a stock buyback program on Tuesday, December 4th that authorizes the company to buyback $6.50 million in shares. This buyback authorization authorizes the credit services provider to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 8th. Stockholders of record on Wednesday, January 9th will be given a dividend of $0.33 per share. This is an increase from Mastercard’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, January 8th. This represents a $1.32 annualized dividend and a dividend yield of 0.67%. Mastercard’s dividend payout ratio is currently 21.83%.
In related news, Director Richard K. Davis acquired 2,475 shares of the stock in a transaction dated Friday, November 2nd. The stock was bought at an average price of $196.37 per share, with a total value of $486,015.75. Following the completion of the transaction, the director now directly owns 3,468 shares of the company’s stock, valued at $681,011.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.32% of the stock is owned by corporate insiders.
Several equities research analysts have commented on the stock. Zacks Investment Research downgraded shares of Mastercard from a “buy” rating to a “hold” rating in a research note on Tuesday, November 20th. Barclays assumed coverage on shares of Mastercard in a research note on Wednesday, November 14th. They issued an “overweight” rating and a $240.00 target price for the company. Loop Capital set a $232.00 target price on shares of Mastercard and gave the company a “buy” rating in a research note on Wednesday, October 31st. BMO Capital Markets upped their target price on shares of Mastercard from $238.00 to $248.00 and gave the company an “outperform” rating in a research note on Thursday, November 1st. Finally, Royal Bank of Canada upped their target price on shares of Mastercard from $223.00 to $232.00 and gave the company an “outperform” rating in a research note on Tuesday, September 11th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $221.28.
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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