Zurcher Kantonalbank Zurich Cantonalbank Purchases 7,383 Shares of Mastercard Incorporated (MA)
Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Mastercard Incorporated (NYSE:MA) by 3.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 214,113 shares of the credit services provider’s stock after buying an additional 7,383 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Mastercard were worth $30,233,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Mastercard by 2.3% during the second quarter. Vanguard Group Inc. now owns 65,297,307 shares of the credit services provider’s stock valued at $7,930,357,000 after purchasing an additional 1,490,267 shares during the last quarter. Janus Henderson Group PLC boosted its position in Mastercard by 784.3% during the second 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 purchasing an additional 14,962,583 shares during the last quarter. Capital Research Global Investors boosted its position in Mastercard by 15.8% during the second 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 purchasing an additional 1,729,179 shares during the last quarter. Capital World Investors boosted its position in Mastercard by 2.3% during the second quarter. Capital World Investors now owns 12,675,652 shares of the credit services provider’s stock valued at $1,539,458,000 after purchasing an additional 289,488 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its position in Mastercard by 6.0% during the second quarter. UBS Asset Management Americas Inc. now owns 6,174,892 shares of the credit services provider’s stock valued at $749,941,000 after purchasing an additional 347,768 shares during the last quarter. 75.58% of the stock is owned by institutional investors.
Several research analysts recently commented on MA shares. KeyCorp reissued a “buy” rating and set a $165.00 price target on shares of Mastercard in a research report on Wednesday, October 18th. Royal Bank of Canada cut Mastercard from a “top pick” rating to an “outperform” rating and set a $130.00 price target for the company. in a research report on Thursday, January 4th. BMO Capital Markets reissued an “outperform” rating and set a $174.00 price target (up from $157.00) on shares of Mastercard in a research report on Wednesday, November 1st. Piper Jaffray Companies reissued a “buy” rating and set a $161.00 price target on shares of Mastercard in a research report on Friday, October 13th. Finally, Credit Suisse Group reissued a “hold” rating and set a $164.00 price target on shares of Mastercard in a research report on Monday, January 8th. Three 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 an average rating of “Buy” and a consensus price target of $161.82.
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, topping the Zacks’ consensus estimate of $1.23 by $0.11. The company had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.28 billion. Mastercard had a return on equity of 78.38% and a net margin of 38.70%. The firm’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.08 earnings per share. research analysts expect that Mastercard Incorporated will post 4.54 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.62%. This is a positive change from Mastercard’s previous quarterly dividend of $0.22. Mastercard’s dividend payout ratio (DPR) is 23.31%.
Mastercard declared that its Board of Directors has authorized a share buyback program on Monday, December 4th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits 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 management believes its shares are undervalued.
In other news, insider Edward Grunde Mclaughlin sold 17,167 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $151.81, for a total transaction of $2,606,122.27. Following the transaction, the insider now owns 47,901 shares in the company, valued at $7,271,850.81. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.30% of the stock is currently owned by company insiders.
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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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