First County Bank CT Trims Stock Position in Mastercard Incorporated (NYSE:MA)

First County Bank CT trimmed its holdings in Mastercard Incorporated (NYSE:MA) by 21.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,339 shares of the credit services provider’s stock after selling 357 shares during the period. First County Bank CT’s holdings in Mastercard were worth $705,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Highline Wealth Partners LLC acquired a new stake in shares of Mastercard during the 3rd quarter worth about $25,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Mastercard in the 2nd quarter valued at approximately $34,000. First Personal Financial Services acquired a new position in shares of Mastercard in the 3rd quarter worth approximately $39,000. Fairway Wealth LLC purchased a new position in shares of Mastercard during the 2nd quarter worth approximately $35,000. Finally, Lowe Wealth Advisors LLC raised its position in Mastercard by 74.0% in the third quarter. Lowe Wealth Advisors LLC now owns 87 shares of the credit services provider’s stock valued at $43,000 after purchasing an additional 37 shares during the period. Institutional investors and hedge funds own 97.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MA. UBS Group increased their target price on Mastercard from $590.00 to $610.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Piper Sandler reissued an “overweight” rating and issued a $575.00 price objective (up previously from $565.00) on shares of Mastercard in a research note on Friday, November 15th. Royal Bank of Canada reiterated an “outperform” rating and set a $572.00 target price on shares of Mastercard in a report on Thursday, November 14th. Macquarie boosted their price target on shares of Mastercard from $505.00 to $565.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Jefferies Financial Group increased their price objective on Mastercard from $590.00 to $610.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Three research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Mastercard presently has an average rating of “Moderate Buy” and a consensus target price of $562.76.

Mastercard Stock Performance

NYSE:MA traded up $0.33 during mid-day trading on Tuesday, reaching $512.26. 1,172,490 shares of the stock were exchanged, compared to its average volume of 2,122,005. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 2.36. Mastercard Incorporated has a 1 year low of $416.53 and a 1 year high of $537.70. The company has a 50 day simple moving average of $523.65 and a 200-day simple moving average of $490.70. The stock has a market capitalization of $470.17 billion, a P/E ratio of 38.75, a P/E/G ratio of 2.36 and a beta of 1.10.

Mastercard (NYSE:MA) last announced its earnings results on Thursday, October 31st. The credit services provider reported $3.89 EPS for the quarter, beating analysts’ consensus estimates of $3.73 by $0.16. The business had revenue of $7.37 billion for the quarter, compared to analysts’ expectations of $7.27 billion. Mastercard had a net margin of 45.26% and a return on equity of 178.27%. The company’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.39 EPS. Analysts anticipate that Mastercard Incorporated will post 14.47 earnings per share for the current fiscal year.

Mastercard Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Thursday, January 9th will be issued a $0.76 dividend. The ex-dividend date is Friday, January 10th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.59%. This is a positive change from Mastercard’s previous quarterly dividend of $0.66. Mastercard’s payout ratio is presently 23.00%.

Mastercard declared that its Board of Directors has initiated a share repurchase program on Tuesday, December 17th that permits the company to buyback $12.00 billion in outstanding shares. This buyback authorization permits the credit services provider to purchase up to 2.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

About Mastercard

Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. The company offers integrated products and value-added services for account holders, merchants, financial institutions, digital partners, businesses, governments, and other organizations, such as programs that enable issuers to provide consumers with credits to defer payments; payment products and solutions that allow its customers to access funds in deposit and other accounts; prepaid programs services; and commercial credit, debit, and prepaid payment products and solutions.