Mastercard Inc (NYSE:MA) Shares Acquired by Synovus Financial Corp
Synovus Financial Corp grew its position in Mastercard Inc (NYSE:MA) by 3.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,229 shares of the credit services provider’s stock after purchasing an additional 1,298 shares during the quarter. Synovus Financial Corp’s holdings in Mastercard were worth $11,708,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Howe & Rusling Inc. purchased a new position in shares of Mastercard in the 3rd quarter valued at $29,000. John W. Brooker & Co. CPAs purchased a new position in shares of Mastercard in the 4th quarter valued at $38,000. Samalin Investment Counsel LLC purchased a new position in shares of Mastercard in the 4th quarter valued at $41,000. First Command Bank grew its position in shares of Mastercard by 96.3% in the 4th quarter. First Command Bank now owns 161 shares of the credit services provider’s stock valued at $48,000 after buying an additional 79 shares during the last quarter. Finally, Wealthcare Capital Management LLC grew its position in shares of Mastercard by 66.3% in the 4th quarter. Wealthcare Capital Management LLC now owns 168 shares of the credit services provider’s stock valued at $50,000 after buying an additional 67 shares during the last quarter. Institutional investors and hedge funds own 74.39% of the company’s stock.
Mastercard stock traded up $5.11 during midday trading on Friday, hitting $340.95. 2,689,796 shares of the company’s stock were exchanged, compared to its average volume of 3,748,336. Mastercard Inc has a 12-month low of $215.93 and a 12-month high of $337.83. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.39 and a current ratio of 1.42. The stock has a market cap of $333.21 billion, a price-to-earnings ratio of 42.94, a price-to-earnings-growth ratio of 2.28 and a beta of 1.01. The firm’s 50 day simple moving average is $315.23 and its 200 day simple moving average is $287.96.
Mastercard announced that its Board of Directors has authorized a stock buyback plan on Tuesday, December 3rd that permits the company to repurchase $8.00 billion in outstanding shares. This repurchase authorization permits the credit services provider to buy up to 2.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Thursday, April 9th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Wednesday, April 8th. Mastercard’s payout ratio is 20.59%.
In other news, CMO Venkata R. Madabhushi sold 954 shares of Mastercard stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $335.00, for a total value of $319,590.00. Following the sale, the chief marketing officer now owns 13,093 shares of the company’s stock, valued at $4,386,155. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael Miebach sold 4,205 shares of Mastercard stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $295.10, for a total transaction of $1,240,895.50. Following the completion of the sale, the insider now directly owns 16,983 shares in the company, valued at approximately $5,011,683.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 430,024 shares of company stock worth $137,189,140. Insiders own 3.70% of the company’s stock.
MA has been the topic of a number of recent analyst reports. Stephens increased their target price on shares of Mastercard from $325.00 to $343.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Deutsche Bank increased their target price on shares of Mastercard from $320.00 to $380.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Cantor Fitzgerald increased their target price on shares of Mastercard from $315.00 to $359.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. William Blair reaffirmed an “outperform” rating on shares of Mastercard in a research report on Wednesday, January 29th. Finally, Guggenheim increased their target price on shares of Mastercard from $305.00 to $364.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the stock. Mastercard presently has a consensus rating of “Buy” and an average 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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