Mastercard Incorporated (NYSE:MA) Shares Sold by Sawgrass Asset Management LLC

Sawgrass Asset Management LLC trimmed its stake in shares of Mastercard Incorporated (NYSE:MA) by 5.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 29,236 shares of the credit services provider’s stock after selling 1,806 shares during the quarter. Mastercard comprises 1.7% of Sawgrass Asset Management LLC’s portfolio, making the stock its 16th largest position. Sawgrass Asset Management LLC’s holdings in Mastercard were worth $15,395,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in MA. Highline Wealth Partners LLC acquired a new stake in Mastercard in the 3rd quarter valued at approximately $25,000. First Personal Financial Services bought a new position in Mastercard during the 3rd quarter valued at $39,000. FSA Wealth Management LLC bought a new stake in shares of Mastercard during the 3rd quarter worth $54,000. Raelipskie Partnership boosted its stake in shares of Mastercard by 120.0% during the 3rd quarter. Raelipskie Partnership now owns 110 shares of the credit services provider’s stock worth $54,000 after acquiring an additional 60 shares in the last quarter. Finally, Legacy Investment Solutions LLC bought a new stake in shares of Mastercard during the 3rd quarter worth $55,000. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Mastercard Stock Down 0.1 %

NYSE MA opened at $564.33 on Thursday. The company has a current ratio of 1.03, a quick ratio of 1.29 and a debt-to-equity ratio of 2.68. The stock’s 50 day moving average is $533.07 and its two-hundred day moving average is $507.89. The company has a market capitalization of $517.96 billion, a price-to-earnings ratio of 40.63, a PEG ratio of 2.37 and a beta of 1.10. Mastercard Incorporated has a 1-year low of $428.86 and a 1-year high of $576.94.

Mastercard (NYSE:MA) last released its quarterly earnings data on Thursday, January 30th. The credit services provider reported $3.82 earnings per share for the quarter, beating analysts’ consensus estimates of $3.71 by $0.11. Mastercard had a return on equity of 188.47% and a net margin of 45.71%. Equities analysts forecast that Mastercard Incorporated will post 15.98 earnings per share for the current fiscal year.

Mastercard declared that its board has initiated a share repurchase plan on Tuesday, December 17th that permits the company to repurchase $12.00 billion in shares. This repurchase authorization permits the credit services provider to reacquire up to 2.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Mastercard Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Wednesday, April 9th will be paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Wednesday, April 9th. Mastercard’s dividend payout ratio (DPR) is currently 21.89%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Barclays raised their target price on Mastercard from $595.00 to $650.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Seaport Res Ptn cut Mastercard from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Mizuho raised their target price on Mastercard from $496.00 to $532.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Macquarie raised their target price on Mastercard from $565.00 to $645.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Finally, TD Cowen raised their target price on Mastercard from $533.00 to $567.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $603.08.

About Mastercard

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.