Hutchens & Kramer Investment Management Group LLC trimmed its holdings in shares of Mastercard Incorporated (NYSE:MA – Free Report) by 7.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 3,331 shares of the credit services provider’s stock after selling 284 shares during the quarter. Mastercard accounts for approximately 1.0% of Hutchens & Kramer Investment Management Group LLC’s portfolio, making the stock its 25th largest position. Hutchens & Kramer Investment Management Group LLC’s holdings in Mastercard were worth $1,754,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Goldstein Advisors LLC lifted its holdings in Mastercard by 1.3% during the 3rd quarter. Goldstein Advisors LLC now owns 1,516 shares of the credit services provider’s stock valued at $749,000 after purchasing an additional 20 shares during the last quarter. Community Bank N.A. lifted its holdings in Mastercard by 0.9% during the 3rd quarter. Community Bank N.A. now owns 2,190 shares of the credit services provider’s stock valued at $1,081,000 after purchasing an additional 20 shares during the last quarter. Raab & Moskowitz Asset Management LLC lifted its holdings in Mastercard by 1.5% during the 3rd quarter. Raab & Moskowitz Asset Management LLC now owns 1,398 shares of the credit services provider’s stock valued at $690,000 after purchasing an additional 20 shares during the last quarter. Boltwood Capital Management lifted its holdings in Mastercard by 1.0% during the 4th quarter. Boltwood Capital Management now owns 2,055 shares of the credit services provider’s stock valued at $1,082,000 after purchasing an additional 20 shares during the last quarter. Finally, Traveka Wealth LLC increased its position in Mastercard by 1.4% in the 4th quarter. Traveka Wealth LLC now owns 1,478 shares of the credit services provider’s stock valued at $778,000 after acquiring an additional 20 shares in the last quarter. 97.28% of the stock is owned by institutional investors.
Mastercard Stock Up 2.6 %
Mastercard stock opened at $547.53 on Tuesday. The company’s 50 day simple moving average is $524.77 and its 200 day simple moving average is $497.91. Mastercard Incorporated has a fifty-two week low of $428.86 and a fifty-two week high of $547.99. The firm has a market capitalization of $502.53 billion, a price-to-earnings ratio of 41.42, a PEG ratio of 2.10 and a beta of 1.10. The company has a debt-to-equity ratio of 2.36, a current ratio of 1.29 and a quick ratio of 1.29.
Mastercard declared that its Board of Directors has authorized a share buyback plan on Tuesday, December 17th that authorizes the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization authorizes the credit services provider to buy up to 2.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
Mastercard Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Thursday, January 9th will be paid a dividend of $0.76 per share. This is a positive change from Mastercard’s previous quarterly dividend of $0.66. The ex-dividend date is Friday, January 10th. This represents a $3.04 annualized dividend and a yield of 0.56%. Mastercard’s dividend payout ratio (DPR) is presently 23.00%.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on MA shares. Mizuho raised their price objective on shares of Mastercard from $496.00 to $532.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Macquarie raised their price objective on shares of Mastercard from $505.00 to $565.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. William Blair restated an “outperform” rating on shares of Mastercard in a research report on Monday, November 25th. Jefferies Financial Group raised their price objective on shares of Mastercard from $590.00 to $610.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, Morgan Stanley raised their price objective on shares of Mastercard from $564.00 to $654.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Four analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $567.29.
Get Our Latest Research Report on Mastercard
Mastercard Profile
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.
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