CIBC Asset Management Inc Has $76.42 Million Position in Mastercard Incorporated (NYSE:MA)

CIBC Asset Management Inc boosted its position in shares of Mastercard Incorporated (NYSE:MA) by 7.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 145,132 shares of the credit services provider’s stock after purchasing an additional 10,481 shares during the quarter. CIBC Asset Management Inc’s holdings in Mastercard were worth $76,422,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of MA. Highline Wealth Partners LLC bought a new stake in Mastercard during the third quarter worth $25,000. First Personal Financial Services bought a new stake in Mastercard during the third quarter worth $39,000. FSA Wealth Management LLC bought a new stake in Mastercard during the third quarter worth $54,000. Raelipskie Partnership raised its position in Mastercard by 120.0% during the third 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 Mastercard during the third quarter worth $55,000. Institutional investors and hedge funds own 97.28% of the company’s stock.

Mastercard Stock Down 0.3 %

Shares of NYSE MA opened at $564.77 on Monday. The company has a 50 day simple moving average of $535.49 and a 200 day simple moving average of $510.30. The firm has a market cap of $518.36 billion, a PE ratio of 40.66, a price-to-earnings-growth 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. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.03 and a quick ratio of 1.29.

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

Mastercard Dividend Announcement

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

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MA. KeyCorp increased their price objective on shares of Mastercard from $600.00 to $630.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. DZ Bank raised shares of Mastercard from a “hold” rating to a “buy” rating and set a $620.00 price objective on the stock in a research report on Tuesday, February 4th. William Blair reissued an “outperform” rating on shares of Mastercard in a research report on Friday, January 31st. JPMorgan Chase & Co. increased their price objective on shares of Mastercard from $590.00 to $610.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Oppenheimer decreased their price target on shares of Mastercard from $591.00 to $588.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Mastercard presently has a consensus rating of “Moderate Buy” and an average target price of $606.11.

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.