Spirit of America Management Corp NY Has $1.06 Million Position in Mastercard Incorporated (MA)
Spirit of America Management Corp NY increased its holdings in Mastercard Incorporated (NYSE:MA) by 8.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,500 shares of the credit services provider’s stock after purchasing an additional 600 shares during the quarter. Spirit of America Management Corp NY’s holdings in Mastercard were worth $1,059,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of MA. Tredje AP fonden raised its position in Mastercard by 2.1% in the 1st quarter. Tredje AP fonden now owns 88,165 shares of the credit services provider’s stock worth $9,916,000 after purchasing an additional 1,811 shares during the period. Alley Co LLC raised its position in Mastercard by 5.1% in the 1st quarter. Alley Co LLC now owns 31,430 shares of the credit services provider’s stock worth $3,535,000 after purchasing an additional 1,529 shares during the period. Sphera Funds Management LTD. raised its position in Mastercard by 6.5% in the 1st quarter. Sphera Funds Management LTD. now owns 11,525 shares of the credit services provider’s stock worth $1,296,000 after purchasing an additional 700 shares during the period. Comerica Securities Inc. raised its position in Mastercard by 4.5% in the 1st quarter. Comerica Securities Inc. now owns 10,313 shares of the credit services provider’s stock worth $1,160,000 after purchasing an additional 447 shares during the period. Finally, InterOcean Capital LLC increased its position in shares of Mastercard by 37.4% in the first quarter. InterOcean Capital LLC now owns 106,443 shares of the credit services provider’s stock valued at $11,972,000 after acquiring an additional 28,948 shares during the period. Institutional investors own 75.81% of the company’s stock.
In related news, Director Richard Haythornthwaite sold 5,000 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $142.51, for a total transaction of $712,550.00. Following the sale, the director now owns 45,278 shares of the company’s stock, valued at $6,452,567.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Craig Vosburg sold 14,200 shares of the business’s stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $141.86, for a total transaction of $2,014,412.00. Following the sale, the insider now directly owns 40,646 shares in the company, valued at approximately $5,766,041.56. The disclosure for this sale can be found here. Insiders have sold 25,000 shares of company stock worth $3,582,984 in the last three months. 0.30% of the stock is currently owned by insiders.
Shares of Mastercard Incorporated (NYSE:MA) traded up $0.99 on Tuesday, hitting $150.88. 3,394,800 shares of the stock were exchanged, compared to its average volume of 3,218,526. The company has a market cap of $158,682.84, a price-to-earnings ratio of 34.78, a price-to-earnings-growth ratio of 2.00 and a beta of 1.20. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.66 and a quick ratio of 1.66. Mastercard Incorporated has a 52-week low of $102.91 and a 52-week high of $154.65.
Mastercard (NYSE:MA) last announced its earnings results on Tuesday, October 31st. The credit services provider reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. The firm had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.28 billion. Mastercard had a net margin of 38.70% and a return on equity of 78.38%. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.08 EPS. sell-side analysts expect that Mastercard Incorporated will post 4.54 earnings per share for the current fiscal year.
Mastercard announced that its board has approved a stock repurchase program on Monday, December 4th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the credit services provider to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Tuesday, January 9th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend 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 payout ratio is presently 20.47%.
A number of equities analysts have issued reports on MA shares. Instinet restated a “buy” rating and issued a $163.00 price objective (up previously from $153.00) on shares of Mastercard in a research report on Saturday, September 9th. KeyCorp restated a “buy” rating and issued a $165.00 price objective on shares of Mastercard in a research report on Wednesday, October 18th. BMO Capital Markets restated an “outperform” rating and issued a $174.00 price objective (up previously from $157.00) on shares of Mastercard in a research report on Wednesday, November 1st. Piper Jaffray Companies restated a “buy” rating and issued a $161.00 price objective on shares of Mastercard in a research report on Friday, October 13th. Finally, Vetr upgraded shares of Mastercard from a “buy” rating to a “strong-buy” rating and set a $161.72 price objective on the stock in a research report on Tuesday, December 5th. Two research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $159.69.
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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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