Ashmore Wealth Management LLC trimmed its position in shares of Mastercard Inc (NYSE:MA) by 7.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 258,601 shares of the credit services provider’s stock after selling 20,149 shares during the quarter. Mastercard makes up 2.9% of Ashmore Wealth Management LLC’s portfolio, making the stock its 11th biggest holding. Ashmore Wealth Management LLC’s holdings in Mastercard were worth $57,567,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Baker Ellis Asset Management LLC purchased a new stake in shares of Mastercard in the third quarter valued at $104,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in shares of Mastercard in the second quarter valued at $109,000. Fort L.P. purchased a new stake in shares of Mastercard in the second quarter valued at $120,000. Point72 Hong Kong Ltd purchased a new stake in shares of Mastercard in the second quarter valued at $131,000. Finally, Bogart Wealth LLC lifted its position in shares of 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 acquiring an additional 539 shares in the last quarter. Institutional investors own 74.84% of the company’s stock.
Several equities analysts recently commented on the company. Wells Fargo & Co upped their target price on Mastercard from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Monday, October 1st. BMO Capital Markets assumed coverage on Mastercard in a research note on Wednesday, September 26th. They issued an “outperform” rating and a $238.00 target price for the company. Goldman Sachs Group upgraded Mastercard from a “buy” rating to a “conviction-buy” rating in a research note on Monday, September 17th. Royal Bank of Canada upped their target price on 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. Finally, Credit Suisse Group upped their target price on Mastercard from $210.00 to $224.00 and gave the company an “outperform” rating in a research note on Monday, October 8th. Three 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 stock. The company currently has a consensus rating of “Buy” and an average target price of $221.28.
Shares of NYSE:MA opened at $196.50 on Friday. The stock has a market cap of $207.06 billion, a price-to-earnings ratio of 42.90, a PEG ratio of 1.72 and a beta of 1.21. 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.
Mastercard (NYSE:MA) last announced its quarterly earnings results on Tuesday, October 30th. The credit services provider reported $1.78 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.10. The company had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.86 billion. Mastercard had a return on equity of 114.58% and a net margin of 35.88%. The firm’s revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.34 earnings per share. Research analysts predict that Mastercard Inc will post 6.43 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 8th. Shareholders of record on Wednesday, January 9th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, January 8th. This is a positive change from Mastercard’s previous quarterly dividend of $0.25. This represents a $1.32 annualized dividend and a yield of 0.67%. Mastercard’s dividend payout ratio is currently 21.83%.
Mastercard announced that its Board of Directors has approved a stock buyback program on Tuesday, December 4th that permits the company to buyback $6.50 million in shares. This buyback authorization permits the credit services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
In other news, Director Richard K. Davis purchased 2,475 shares of the company’s stock in a transaction on Friday, November 2nd. The stock was bought at an average cost of $196.37 per share, for a total transaction of $486,015.75. Following the completion of the purchase, the director now directly owns 3,468 shares of the company’s stock, valued at approximately $681,011.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.32% of the company’s stock.
TRADEMARK VIOLATION WARNING: This report was posted by American Banking News and is the sole property of of American Banking News. If you are accessing this report on another domain, it was illegally stolen and reposted in violation of United States and international copyright & trademark law. The legal version of this report can be viewed at https://www.americanbankingnews.com/2018/12/08/mastercard-inc-ma-shares-sold-by-ashmore-wealth-management-llc.html.
Mastercard Company Profile
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.
See Also: Cost of Capital Explained
Want to see what other hedge funds are holding MA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mastercard Inc (NYSE:MA).
Receive News & Ratings for Mastercard Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mastercard and related companies with MarketBeat.com's FREE daily email newsletter.