Canoe Financial LP Decreases Position in Mastercard Incorporated $MA

Canoe Financial LP reduced its position in shares of Mastercard Incorporated (NYSE:MA) by 4.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 303,681 shares of the credit services provider’s stock after selling 12,950 shares during the period. Mastercard accounts for about 2.5% of Canoe Financial LP’s portfolio, making the stock its 11th largest holding. Canoe Financial LP’s holdings in Mastercard were worth $172,737,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MA. LGT Financial Advisors LLC purchased a new stake in shares of Mastercard during the second quarter worth approximately $25,000. Family Legacy Financial Solutions LLC acquired a new stake in Mastercard during the 2nd quarter worth $26,000. Flaharty Asset Management LLC purchased a new stake in shares of Mastercard during the first quarter worth $27,000. Evolution Wealth Management Inc. purchased a new stake in shares of Mastercard during the second quarter worth $29,000. Finally, IMG Wealth Management Inc. acquired a new stake in shares of Mastercard in the second quarter valued at about $31,000. Institutional investors and hedge funds own 97.28% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on MA shares. Wells Fargo & Company dropped their price objective on shares of Mastercard from $669.00 to $660.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Compass Point set a $620.00 target price on Mastercard and gave the stock a “neutral” rating in a report on Friday, October 31st. Royal Bank Of Canada increased their price target on Mastercard from $645.00 to $654.00 and gave the company a “buy” rating in a report on Friday, October 31st. Citigroup upgraded Mastercard to a “strong-buy” rating in a research report on Thursday, October 23rd. Finally, Truist Financial dropped their target price on Mastercard from $638.00 to $630.00 and set a “buy” rating for the company in a report on Tuesday, November 4th. Five research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $657.48.

Mastercard Trading Up 0.5%

MA opened at $579.38 on Friday. The stock has a market capitalization of $520.28 billion, a PE ratio of 37.04, a P/E/G ratio of 2.28 and a beta of 0.87. Mastercard Incorporated has a one year low of $465.59 and a one year high of $601.77. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.12 and a current ratio of 1.12. The business’s 50 day moving average price is $555.26 and its 200 day moving average price is $565.87.

Mastercard (NYSE:MA) last posted its earnings results on Thursday, October 30th. The credit services provider reported $4.38 EPS for the quarter, beating analysts’ consensus estimates of $4.31 by $0.07. Mastercard had a return on equity of 202.03% and a net margin of 45.28%.The company had revenue of $8.60 billion for the quarter, compared to the consensus estimate of $8.53 billion. During the same quarter in the previous year, the business earned $3.89 earnings per share. The company’s revenue for the quarter was up 16.7% on a year-over-year basis. As a group, equities research analysts expect that Mastercard Incorporated will post 15.91 EPS for the current year.

Mastercard Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 9th. Shareholders of record on Friday, January 9th will be given a $0.87 dividend. The ex-dividend date of this dividend is Friday, January 9th. This is an increase from Mastercard’s previous quarterly dividend of $0.76. This represents a $3.48 dividend on an annualized basis and a yield of 0.6%. Mastercard’s dividend payout ratio is currently 19.44%.

About Mastercard

Mastercard Incorporated is a global payments technology company that operates a network connecting consumers, financial institutions, merchants, governments and businesses in more than 200 countries and territories. The company facilitates electronic payments and transaction processing for credit, debit and prepaid card products carrying the Mastercard brand, while also providing a range of payment-related services to issuers, acquirers and merchants. Its technology and network enable authorization, clearing and settlement of payments and support a broad set of use cases including point-of-sale, e-commerce and mobile payments.

Beyond core transaction processing, Mastercard offers a suite of value-added services such as fraud and risk management, identity and authentication tools, tokenization and digital wallet support, cross-border and commercial payment solutions, and data analytics and consulting services for merchants and financial partners.