Mastercard Incorporated (MA) Holdings Boosted by K.J. Harrison & Partners Inc
K.J. Harrison & Partners Inc raised its stake in shares of Mastercard Incorporated (NYSE:MA) by 37.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,305 shares of the credit services provider’s stock after acquiring an additional 2,000 shares during the period. K.J. Harrison & Partners Inc’s holdings in Mastercard were worth $1,031,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of MA. Janus Henderson Group PLC lifted its stake in Mastercard by 784.3% during the 2nd quarter. Janus Henderson Group PLC now owns 16,870,229 shares of the credit services provider’s stock valued at $2,048,899,000 after acquiring an additional 14,962,583 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Mastercard by 289.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,570,551 shares of the credit services provider’s stock valued at $433,643,000 after acquiring an additional 2,654,308 shares in the last quarter. Vanguard Group Inc. lifted its stake in Mastercard by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 63,807,040 shares of the credit services provider’s stock valued at $7,176,378,000 after acquiring an additional 1,814,116 shares in the last quarter. Capital Research Global Investors lifted its stake in Mastercard by 15.8% during the 2nd quarter. Capital Research Global Investors now owns 12,685,589 shares of the credit services provider’s stock valued at $1,540,665,000 after acquiring an additional 1,729,179 shares in the last quarter. Finally, Egerton Capital UK LLP lifted its stake in Mastercard by 60.6% during the 2nd quarter. Egerton Capital UK LLP now owns 3,923,766 shares of the credit services provider’s stock valued at $476,541,000 after acquiring an additional 1,480,425 shares in the last quarter. Institutional investors and hedge funds own 75.57% of the company’s stock.
Several equities analysts have weighed in on MA shares. Oppenheimer restated a “buy” rating and set a $145.00 price objective on shares of Mastercard in a research note on Friday, September 8th. Citigroup raised their price objective on Mastercard from $157.00 to $167.00 and gave the company a “buy” rating in a research note on Wednesday, October 18th. Nomura raised their price objective on Mastercard from $153.00 to $163.00 and gave the company a “buy” rating in a research note on Friday, September 8th. Zacks Investment Research lowered Mastercard from a “buy” rating to a “hold” rating in a research report on Wednesday, November 8th. Finally, Susquehanna Bancshares reaffirmed a “positive” rating and set a $158.00 target price (up from $149.00) on shares of Mastercard in a research report on Friday, September 8th. Three equities research analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $159.59.
Mastercard (NYSE:MA) last announced its quarterly earnings data on Tuesday, October 31st. The credit services provider reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.11. Mastercard had a return on equity of 78.38% and a net margin of 38.70%. The company had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.28 billion. During the same quarter last year, the firm posted $1.08 EPS. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. analysts forecast that Mastercard Incorporated will post 4.54 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Tuesday, January 9th will be issued a $0.25 dividend. The ex-dividend date is Monday, January 8th. This represents a $1.00 annualized dividend and a yield of 0.66%. This is a positive change from Mastercard’s previous quarterly dividend of $0.22. Mastercard’s dividend payout ratio (DPR) is 20.47%.
Mastercard declared that its board has authorized a share buyback plan on Monday, December 4th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the credit services provider to buy shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
In other Mastercard news, Director Richard Haythornthwaite sold 5,000 shares of Mastercard stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $142.51, for a total transaction of $712,550.00. Following the completion of the transaction, the director now owns 45,278 shares of the company’s stock, valued at approximately $6,452,567.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Fraccaro sold 5,800 shares of Mastercard stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $147.59, for a total value of $856,022.00. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.
Mastercard Company Profile
MasterCard Incorporated is a technology company that connects consumers, financial institutions, merchants, governments and businesses across the world, enabling them to use electronic forms of payment. The Company operates through Payment Solutions segment. The Company allows user to make payments by creating a range of payment solutions and services using its brands, which include MasterCard, Maestro and Cirrus.
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