Mastercard Inc (NYSE:MA) is Glenview Trust Co’s 6th Largest Position
Glenview Trust Co trimmed its holdings in shares of Mastercard Inc (NYSE:MA) by 2.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 144,859 shares of the credit services provider’s stock after selling 2,889 shares during the period. Mastercard accounts for about 2.4% of Glenview Trust Co’s holdings, making the stock its 6th largest holding. Glenview Trust Co’s holdings in Mastercard were worth $43,253,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Howe & Rusling Inc. purchased a new stake in Mastercard during the 3rd quarter valued at approximately $29,000. John W. Brooker & Co. CPAs purchased a new stake in Mastercard during the 4th quarter valued at approximately $38,000. Samalin Investment Counsel LLC purchased a new stake in Mastercard during the 4th quarter valued at approximately $41,000. First Command Bank raised its stake in Mastercard by 96.3% during the 4th quarter. First Command Bank now owns 161 shares of the credit services provider’s stock valued at $48,000 after acquiring an additional 79 shares during the last quarter. Finally, Wealthcare Capital Management LLC raised its stake in Mastercard by 66.3% during the 4th quarter. Wealthcare Capital Management LLC now owns 168 shares of the credit services provider’s stock valued at $50,000 after acquiring an additional 67 shares during the last quarter. 74.39% of the stock is owned by institutional investors.
In related news, CMO Venkata R. Madabhushi sold 8,444 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $315.00, for a total value of $2,659,860.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Foundation Mastercard sold 38,536 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $312.75, for a total value of $12,052,134.00. Following the completion of the sale, the insider now owns 111,833,391 shares in the company, valued at approximately $34,975,893,035.25. The disclosure for this sale can be found here. In the last 90 days, insiders sold 430,024 shares of company stock worth $137,189,140. Insiders own 3.70% of the company’s stock.
Mastercard (NYSE:MA) last released its quarterly earnings results on Wednesday, January 29th. The credit services provider reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.09. The business had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.40 billion. Mastercard had a return on equity of 150.46% and a net margin of 48.08%. The company’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.55 EPS. Research analysts expect that Mastercard Inc will post 9 EPS for the current fiscal year.
Mastercard announced that its board has initiated a share repurchase plan on Tuesday, December 3rd that authorizes the company to repurchase $8.00 billion in outstanding shares. This repurchase authorization authorizes the credit services provider to reacquire up to 2.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Thursday, April 9th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Wednesday, April 8th. Mastercard’s dividend payout ratio is currently 20.59%.
Several analysts have commented on MA shares. BMO Capital Markets upped their price objective on Mastercard from $348.00 to $362.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Tigress Financial reaffirmed a “buy” rating on shares of Mastercard in a research note on Monday, December 23rd. Oppenheimer upped their price objective on Mastercard from $312.00 to $345.00 and gave the company an “outperform” rating in a research note on Thursday, January 16th. Moffett Nathanson upped their price objective on Mastercard from to and gave the company a “buy” rating in a research note on Tuesday, January 7th. Finally, Deutsche Bank upped their price objective on Mastercard from $320.00 to $380.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $337.58.
Mastercard Company Profile
Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers related products and services.
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