Hoey Investments Inc. Has $316,000 Stock Holdings in Mastercard Incorporated (NYSE:MA)

Hoey Investments Inc. lifted its position in Mastercard Incorporated (NYSE:MA) by 1,100.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 600 shares of the credit services provider’s stock after buying an additional 550 shares during the quarter. Hoey Investments Inc.’s holdings in Mastercard were worth $316,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of MA. Vanguard Group Inc. boosted its holdings in Mastercard by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 77,179,138 shares of the credit services provider’s stock valued at $40,640,219,000 after acquiring an additional 377,302 shares during the period. State Street Corp boosted its stake in Mastercard by 0.7% during the 3rd quarter. State Street Corp now owns 35,288,912 shares of the credit services provider’s stock valued at $17,425,665,000 after purchasing an additional 257,312 shares during the period. Geode Capital Management LLC grew its holdings in Mastercard by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 18,375,053 shares of the credit services provider’s stock valued at $9,043,972,000 after buying an additional 453,773 shares during the last quarter. Norges Bank bought a new position in Mastercard in the 4th quarter worth approximately $6,022,224,000. Finally, Wellington Management Group LLP lifted its holdings in shares of Mastercard by 9.1% during the fourth quarter. Wellington Management Group LLP now owns 9,760,740 shares of the credit services provider’s stock worth $5,139,713,000 after buying an additional 817,836 shares during the last quarter. 97.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MA shares. UBS Group upped their price objective on shares of Mastercard from $600.00 to $660.00 and gave the company a “buy” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. boosted their price objective on Mastercard from $590.00 to $610.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Tigress Financial reaffirmed a “strong-buy” rating on shares of Mastercard in a research report on Monday, March 10th. Citigroup boosted their price target on shares of Mastercard from $584.00 to $650.00 and gave the company a “buy” rating in a report on Friday, January 31st. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Mastercard from $618.00 to $665.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Mastercard has an average rating of “Moderate Buy” and an average target price of $606.11.

Mastercard Stock Down 3.0 %

NYSE:MA opened at $540.57 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.68. Mastercard Incorporated has a 12-month low of $428.86 and a 12-month high of $582.23. The stock’s fifty day simple moving average is $550.58 and its 200-day simple moving average is $527.19. The firm has a market capitalization of $492.84 billion, a P/E ratio of 38.92, a P/E/G ratio of 2.37 and a beta of 1.10.

Mastercard (NYSE:MA) last issued its earnings results on Thursday, January 30th. The credit services provider reported $3.82 earnings per share (EPS) for the quarter, topping 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 research analysts expect that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Wednesday, April 9th will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date is Wednesday, April 9th. Mastercard’s dividend payout ratio is currently 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 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 an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Mastercard

In other news, insider Edward Grunde Mclaughlin sold 7,132 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $534.68, for a total transaction of $3,813,337.76. Following the sale, the insider now owns 34,524 shares of the company’s stock, valued at $18,459,292.32. This trade represents a 17.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael Miebach sold 15,775 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $550.16, for a total value of $8,678,774.00. Following the completion of the transaction, the chief executive officer now owns 84,871 shares of the company’s stock, valued at $46,692,629.36. This represents a 15.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

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.