Canandaigua National Bank & Trust Co. Cuts Position in Mastercard Incorporated (NYSE:MA)

Canandaigua National Bank & Trust Co. reduced its position in shares of Mastercard Incorporated (NYSE:MA) by 3.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,496 shares of the credit services provider’s stock after selling 575 shares during the period. Mastercard comprises about 0.9% of Canandaigua National Bank & Trust Co.’s holdings, making the stock its 25th largest holding. Canandaigua National Bank & Trust Co.’s holdings in Mastercard were worth $8,686,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. State Street Corp increased its stake in Mastercard by 0.7% during the third quarter. State Street Corp now owns 35,288,912 shares of the credit services provider’s stock worth $17,425,665,000 after purchasing an additional 257,312 shares during the period. FMR LLC lifted its holdings in Mastercard by 3.4% during the 3rd quarter. FMR LLC now owns 21,355,081 shares of the credit services provider’s stock worth $10,545,139,000 after buying an additional 700,769 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Mastercard by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 18,375,053 shares of the credit services provider’s stock worth $9,043,972,000 after buying an additional 453,773 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Mastercard by 120,665.3% in the third quarter. International Assets Investment Management LLC now owns 8,041,758 shares of the credit services provider’s stock worth $3,971,020,000 after acquiring an additional 8,035,099 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Mastercard by 4.2% during the third quarter. Franklin Resources Inc. now owns 7,501,814 shares of the credit services provider’s stock worth $3,800,836,000 after acquiring an additional 304,293 shares during the period. 97.28% of the stock is owned by institutional investors and hedge funds.

Mastercard Stock Performance

Shares of NYSE:MA traded down $9.66 during trading on Monday, reaching $511.70. 2,918,934 shares of the company’s stock traded hands, compared to its average volume of 2,247,052. The company has a debt-to-equity ratio of 2.36, a current ratio of 1.29 and a quick ratio of 1.29. The company has a 50 day moving average of $523.58 and a 200-day moving average of $490.28. The stock has a market capitalization of $469.65 billion, a P/E ratio of 38.71, a price-to-earnings-growth ratio of 2.36 and a beta of 1.10. Mastercard Incorporated has a 12 month low of $416.53 and a 12 month high of $537.70.

Mastercard (NYSE:MA) last posted its quarterly earnings data on Thursday, October 31st. The credit services provider reported $3.89 EPS for the quarter, topping analysts’ consensus estimates of $3.73 by $0.16. Mastercard had a return on equity of 178.27% and a net margin of 45.26%. The company had revenue of $7.37 billion for the quarter, compared to the consensus estimate of $7.27 billion. During the same quarter in the previous year, the business earned $3.39 EPS. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. On average, equities analysts expect that Mastercard Incorporated will post 14.47 EPS for the current year.

Mastercard Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Thursday, January 9th will be given a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 0.59%. The ex-dividend date is Friday, January 10th. This is an increase from Mastercard’s previous quarterly dividend of $0.66. Mastercard’s dividend payout ratio is 23.00%.

Mastercard declared that its Board of Directors has authorized a share repurchase plan on Tuesday, December 17th that allows the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization allows the credit services provider to reacquire up to 2.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts recently commented on the company. Jefferies Financial Group boosted their target price on Mastercard from $590.00 to $610.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Citigroup raised their target price on shares of Mastercard from $566.00 to $572.00 and gave the company a “buy” rating in a report on Monday, November 4th. Macquarie boosted their price target on shares of Mastercard from $505.00 to $565.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. William Blair restated an “outperform” rating on shares of Mastercard in a report on Monday, November 25th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Mastercard from $593.00 to $580.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Three analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $562.76.

Mastercard Company 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.