Mastercard Incorporated (NYSE:MA) Stake Reduced by Gabelli Funds LLC

Gabelli Funds LLC reduced its position in Mastercard Incorporated (NYSE:MA) by 3.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 377,008 shares of the credit services provider’s stock after selling 15,347 shares during the period. Mastercard makes up about 1.5% of Gabelli Funds LLC’s holdings, making the stock its 2nd biggest holding. Gabelli Funds LLC’s holdings in Mastercard were worth $198,521,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. NewSquare Capital LLC acquired a new position in shares of Mastercard in the 4th quarter worth approximately $26,000. Marshall Investment Management LLC bought a new position in Mastercard during the fourth quarter valued at about $30,000. Halbert Hargrove Global Advisors LLC bought a new stake in Mastercard during the fourth quarter worth approximately $32,000. Truvestments Capital LLC boosted its holdings in shares of Mastercard by 62.5% during the 4th quarter. Truvestments Capital LLC now owns 65 shares of the credit services provider’s stock worth $34,000 after buying an additional 25 shares during the period. Finally, CoreFirst Bank & Trust acquired a new stake in shares of Mastercard in the fourth quarter valued at about $37,000. Institutional investors and hedge funds own 97.28% of the company’s stock.

Insider Buying and Selling

In other 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 transaction, the insider now directly owns 34,524 shares in the company, valued at $18,459,292.32. This trade represents a 17.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Miebach sold 15,775 shares of the company’s stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $550.16, for a total transaction of $8,678,774.00. Following the completion of the sale, the chief executive officer now owns 84,871 shares in the company, valued at $46,692,629.36. This represents a 15.67 % decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is owned by corporate insiders.

Mastercard Stock Performance

NYSE MA opened at $512.18 on Tuesday. Mastercard Incorporated has a 12-month low of $428.86 and a 12-month high of $582.23. The firm has a 50-day moving average price of $541.74 and a two-hundred day moving average price of $528.66. The company has a market capitalization of $466.96 billion, a P/E ratio of 36.87, a P/E/G ratio of 2.37 and a beta of 1.06. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.68.

Mastercard (NYSE:MA) last issued its quarterly earnings results on Thursday, January 30th. The credit services provider reported $3.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.71 by $0.11. Mastercard had a return on equity of 188.47% and a net margin of 45.71%. Analysts anticipate that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard announced that its Board of Directors has approved a stock repurchase program on Tuesday, December 17th that authorizes the company to repurchase $12.00 billion in shares. This repurchase authorization authorizes the credit services provider to purchase up to 2.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Mastercard Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on MA shares. Seaport Res Ptn downgraded shares of Mastercard from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Piper Sandler restated an “overweight” rating and issued a $635.00 price objective (up previously from $591.00) on shares of Mastercard in a research report on Friday, January 31st. Wells Fargo & Company boosted their target price on Mastercard from $585.00 to $625.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Morgan Stanley reduced their price objective on shares of Mastercard from $654.00 to $644.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Finally, Keefe, Bruyette & Woods upped their price objective on Mastercard from $618.00 to $665.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Six equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Mastercard presently has a consensus rating of “Moderate Buy” and an average 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.