Novare Capital Management LLC Purchases New Position in Mastercard Incorporated (NYSE:MA)

Novare Capital Management LLC acquired a new position in Mastercard Incorporated (NYSE:MA) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 385 shares of the credit services provider’s stock, valued at approximately $203,000.

Several other hedge funds have also modified their holdings of the company. Highline Wealth Partners LLC bought a new stake in Mastercard during the third quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL purchased a new stake in Mastercard during the 2nd quarter valued at $34,000. First Personal Financial Services bought a new stake in Mastercard in the third quarter worth $39,000. Lowe Wealth Advisors LLC boosted its stake in Mastercard by 74.0% during the third quarter. Lowe Wealth Advisors LLC now owns 87 shares of the credit services provider’s stock worth $43,000 after buying an additional 37 shares during the period. Finally, Legacy Investment Solutions LLC bought a new position in Mastercard during the third quarter valued at $55,000. 97.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MA. Piper Sandler raised their target price on shares of Mastercard from $575.00 to $591.00 and gave the stock an “overweight” rating in a report on Friday. Susquehanna boosted their target price on Mastercard from $540.00 to $605.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Macquarie raised their price target on Mastercard from $505.00 to $565.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Barclays upped their price target on shares of Mastercard from $536.00 to $576.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, TD Cowen lifted their target price on Mastercard from $533.00 to $567.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Four analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $567.29.

Mastercard Stock Performance

Shares of MA opened at $533.50 on Monday. The stock has a 50-day moving average of $524.77 and a two-hundred day moving average of $497.46. The company has a debt-to-equity ratio of 2.36, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a market cap of $489.66 billion, a P/E ratio of 40.36, a P/E/G ratio of 2.10 and a beta of 1.10. Mastercard Incorporated has a one year low of $428.86 and a one year high of $537.70.

Mastercard (NYSE:MA) last released its earnings results on Thursday, October 31st. The credit services provider reported $3.89 EPS for the quarter, topping analysts’ consensus estimates of $3.73 by $0.16. Mastercard had a return on equity of 178.27% and a net margin of 45.26%. The firm had revenue of $7.37 billion during the quarter, compared to the consensus estimate of $7.27 billion. During the same quarter in the previous year, the company posted $3.39 earnings per share. The company’s revenue was up 12.8% compared to the same quarter last year. As a group, research analysts predict that Mastercard Incorporated will post 14.47 EPS for the current year.

Mastercard Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Thursday, January 9th will be paid a $0.76 dividend. The ex-dividend date is Friday, January 10th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.57%. This is a positive change from Mastercard’s previous quarterly dividend of $0.66. Mastercard’s dividend payout ratio is presently 23.00%.

Mastercard announced that its Board of Directors has authorized a stock repurchase program on Tuesday, December 17th that authorizes the company to buyback $12.00 billion in outstanding shares. This buyback authorization authorizes the credit services provider to repurchase up to 2.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Mastercard Company Profile

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.