Zacks Investment Management Buys 929 Shares of Mastercard Incorporated (NYSE:MA)

Zacks Investment Management lifted its stake in Mastercard Incorporated (NYSE:MA) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 44,677 shares of the credit services provider’s stock after purchasing an additional 929 shares during the period. Zacks Investment Management’s holdings in Mastercard were worth $23,526,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of MA. Vanguard Group Inc. lifted its stake in shares of Mastercard by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 77,179,138 shares of the credit services provider’s stock valued at $40,640,219,000 after acquiring an additional 377,302 shares during the period. FMR LLC lifted its position in Mastercard by 4.3% during the 4th quarter. FMR LLC now owns 22,267,937 shares of the credit services provider’s stock valued at $11,725,627,000 after purchasing an additional 912,856 shares during the period. Geode Capital Management LLC boosted its stake in shares of Mastercard by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 18,657,792 shares of the credit services provider’s stock valued at $9,800,202,000 after purchasing an additional 282,739 shares during the last quarter. Norges Bank acquired a new stake in shares of Mastercard during the 4th quarter worth approximately $6,022,224,000. Finally, Wellington Management Group LLP raised its stake in shares of Mastercard by 9.1% during the fourth quarter. Wellington Management Group LLP now owns 9,760,740 shares of the credit services provider’s stock worth $5,139,713,000 after buying an additional 817,836 shares during the last quarter. Institutional investors own 97.28% of the company’s stock.

Mastercard Price Performance

Shares of MA opened at $513.71 on Thursday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.68. The company’s fifty day simple moving average is $539.77 and its 200 day simple moving average is $528.48. Mastercard Incorporated has a 1-year low of $428.86 and a 1-year high of $582.23. The company has a market cap of $468.35 billion, a price-to-earnings ratio of 36.98, a PEG ratio of 2.37 and a beta of 1.06.

Mastercard (NYSE:MA) last released its quarterly earnings data on Thursday, January 30th. The credit services provider reported $3.82 earnings per share for the quarter, topping the consensus estimate of $3.71 by $0.11. Mastercard had a net margin of 45.71% and a return on equity of 188.47%. On average, research analysts forecast that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Wednesday, April 9th will be given a $0.76 dividend. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.59%. Mastercard’s payout ratio is 21.89%.

Insider Transactions at Mastercard

In related news, insider Edward Grunde Mclaughlin sold 7,132 shares of Mastercard stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $534.68, for a total transaction of $3,813,337.76. Following the completion of the sale, the insider now owns 34,524 shares of the company’s stock, valued at approximately $18,459,292.32. The trade was a 17.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael Miebach sold 15,775 shares of the stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $550.16, for a total transaction of $8,678,774.00. Following the completion of the transaction, the chief executive officer now directly owns 84,871 shares in the company, valued at approximately $46,692,629.36. This represents a 15.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MA has been the subject of a number of analyst reports. Seaport Res Ptn lowered shares of Mastercard from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Tigress Financial reiterated a “strong-buy” rating on shares of Mastercard in a report on Monday, March 10th. Piper Sandler reissued an “overweight” rating and issued a $635.00 target price (up previously from $591.00) on shares of Mastercard in a research note on Friday, January 31st. KeyCorp upped their price target on Mastercard from $600.00 to $630.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Evercore ISI assumed coverage on shares of Mastercard in a research note on Wednesday, April 9th. They set an “in-line” rating and a $550.00 price objective on the stock. Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $607.96.

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.