Strs Ohio Reduces Position in Mastercard Inc (NYSE:MA)
Strs Ohio decreased its holdings in Mastercard Inc (NYSE:MA) by 4.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 737,261 shares of the credit services provider’s stock after selling 37,215 shares during the period. Mastercard makes up approximately 0.9% of Strs Ohio’s investment portfolio, making the stock its 13th largest position. Strs Ohio’s holdings in Mastercard were worth $220,138,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in MA. Ellevest Inc. grew its position in Mastercard by 52.8% in the second quarter. Ellevest Inc. now owns 110 shares of the credit services provider’s stock worth $29,000 after acquiring an additional 38 shares during the period. Howe & Rusling Inc. acquired a new stake in Mastercard during the third quarter worth $29,000. Princeton Global Asset Management LLC acquired a new stake in Mastercard during the second quarter worth $33,000. Candriam Luxembourg S.C.A. raised its position in Mastercard by 2.3% in the fourth quarter. Candriam Luxembourg S.C.A. now owns 135,337 shares of the credit services provider’s stock valued at $40,000 after purchasing an additional 3,050 shares during the period. Finally, First Command Bank raised its position in Mastercard by 96.3% in the fourth quarter. First Command Bank now owns 161 shares of the credit services provider’s stock valued at $48,000 after purchasing an additional 79 shares during the period. 74.40% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have issued reports on MA. BMO Capital Markets boosted their price target on shares of Mastercard to $348.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. They noted that the move was a valuation call. Nomura reiterated a “buy” rating on shares of Mastercard in a research report on Monday. Oppenheimer increased their target price on shares of Mastercard from $312.00 to $345.00 and gave the stock an “outperform” rating in a research note on Thursday, January 16th. Tigress Financial reiterated a “buy” rating on shares of Mastercard in a research note on Monday, December 23rd. Finally, Macquarie assumed coverage on shares of Mastercard in a research report on Tuesday. They issued an “outperform” rating and a $365.00 price objective for the company. Three analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $324.21.
MA stock traded down $1.54 on Friday, hitting $323.44. 2,735,782 shares of the company were exchanged, compared to its average volume of 3,043,705. Mastercard Inc has a twelve month low of $197.66 and a twelve month high of $326.79. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.39 and a quick ratio of 1.39. The business’s fifty day moving average is $303.15 and its two-hundred day moving average is $283.18. The stock has a market capitalization of $327.18 billion, a price-to-earnings ratio of 47.99, a price-to-earnings-growth ratio of 2.23 and a beta of 1.03.
Mastercard (NYSE:MA) last announced its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $2.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.01 by $0.14. Mastercard had a net margin of 42.50% and a return on equity of 146.92%. The company had revenue of $4.47 billion for the quarter, compared to analyst estimates of $4.41 billion. During the same quarter last year, the business earned $1.78 EPS. Mastercard’s revenue for the quarter was up 14.6% on a year-over-year basis. Equities research analysts expect that Mastercard Inc will post 7.69 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Thursday, January 9th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.49%. This is an increase from Mastercard’s previous quarterly dividend of $0.33. The ex-dividend date is Wednesday, January 8th. Mastercard’s dividend payout ratio is presently 24.65%.
Mastercard declared that its board has approved a stock 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 repurchase up to 2.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
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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