SVA Plumb Wealth Management LLC Decreases Position in Mastercard Inc (MA)
SVA Plumb Wealth Management LLC trimmed its holdings in shares of Mastercard Inc (NYSE:MA) by 14.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,515 shares of the credit services provider’s stock after selling 4,218 shares during the period. SVA Plumb Wealth Management LLC’s holdings in Mastercard were worth $5,457,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Baker Ellis Asset Management LLC purchased a new position in Mastercard in the 3rd quarter valued at about $104,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in Mastercard in the 2nd quarter valued at about $109,000. Fort L.P. purchased a new position in Mastercard in the 2nd quarter valued at about $120,000. Point72 Hong Kong Ltd purchased a new position in Mastercard in the 2nd quarter valued at about $131,000. Finally, Bogart Wealth LLC boosted its position in Mastercard by 434.7% in the 3rd quarter. Bogart Wealth LLC now owns 663 shares of the credit services provider’s stock valued at $148,000 after buying an additional 539 shares during the last quarter. 74.84% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have recently commented on MA. Royal Bank of Canada increased their price target on shares of Mastercard from $223.00 to $232.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 11th. They noted that the move was a valuation call. Goldman Sachs Group raised shares of Mastercard from a “buy” rating to a “conviction-buy” rating in a research report on Monday, September 17th. BMO Capital Markets began coverage on shares of Mastercard in a research report on Wednesday, September 26th. They set an “outperform” rating and a $238.00 price target on the stock. Wells Fargo & Co increased their price target on shares of Mastercard from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Monday, October 1st. Finally, Credit Suisse Group increased their price target on shares of Mastercard from $210.00 to $224.00 and gave the stock an “outperform” rating in a research report on Monday, October 8th. Two equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $221.28.
MA opened at $203.19 on Friday. The stock has a market cap of $207.06 billion, a P/E ratio of 44.36, a price-to-earnings-growth ratio of 1.72 and a beta of 1.21. Mastercard Inc has a fifty-two week low of $147.51 and a fifty-two week high of $225.35. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.01.
Mastercard (NYSE:MA) last released its quarterly earnings data on Tuesday, October 30th. The credit services provider reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.10. The firm had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.86 billion. Mastercard had a net margin of 35.88% and a return on equity of 114.58%. Mastercard’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.34 earnings per share. Sell-side analysts predict that Mastercard Inc will post 6.43 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 8th. Investors of record on Wednesday, January 9th will be paid a dividend of $0.33 per share. This is a positive change from Mastercard’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, January 8th. This represents a $1.32 annualized dividend and a yield of 0.65%. Mastercard’s dividend payout ratio is 21.83%.
Mastercard announced that its board has authorized a stock repurchase program on Tuesday, December 4th that allows the company to buyback $6.50 million in outstanding shares. This buyback authorization allows the credit services provider to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
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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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