Coronation Fund Managers Ltd. Decreases Stock Holdings in Mastercard Incorporated (NYSE:MA)

Coronation Fund Managers Ltd. reduced its stake in shares of Mastercard Incorporated (NYSE:MA) by 19.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,788 shares of the credit services provider’s stock after selling 1,371 shares during the quarter. Coronation Fund Managers Ltd.’s holdings in Mastercard were worth $3,048,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in MA. Capital Investment Advisory Services LLC increased its stake in Mastercard by 0.6% in the 4th quarter. Capital Investment Advisory Services LLC now owns 3,135 shares of the credit services provider’s stock valued at $1,651,000 after purchasing an additional 19 shares in the last quarter. Capital Investment Services of America Inc. increased its position in shares of Mastercard by 4.2% in the fourth quarter. Capital Investment Services of America Inc. now owns 475 shares of the credit services provider’s stock valued at $250,000 after buying an additional 19 shares in the last quarter. Goldstein Advisors LLC raised its stake in shares of Mastercard by 1.3% during the 3rd quarter. Goldstein Advisors LLC now owns 1,516 shares of the credit services provider’s stock worth $749,000 after buying an additional 20 shares during the last quarter. Community Bank N.A. boosted its position in shares of Mastercard by 0.9% in the 3rd quarter. Community Bank N.A. now owns 2,190 shares of the credit services provider’s stock worth $1,081,000 after buying an additional 20 shares in the last quarter. Finally, Raab & Moskowitz Asset Management LLC grew its stake in Mastercard by 1.5% in 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 acquiring an additional 20 shares during the last quarter. 97.28% of the stock is owned by hedge funds and other institutional investors.

Mastercard Stock Performance

Mastercard stock opened at $562.55 on Monday. The company has a market cap of $516.33 billion, a price-to-earnings ratio of 40.50, a price-to-earnings-growth ratio of 2.37 and a beta of 1.10. Mastercard Incorporated has a 12 month low of $428.86 and a 12 month high of $576.94. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.03 and a quick ratio of 1.29. The stock’s 50-day moving average is $531.61 and its 200-day moving average is $505.53.

Mastercard (NYSE:MA) last announced its quarterly earnings results on Thursday, January 30th. The credit services provider reported $3.82 earnings per share for the quarter, beating analysts’ consensus estimates of $3.71 by $0.11. Mastercard had a net margin of 45.71% and a return on equity of 188.47%. Equities analysts anticipate that Mastercard Incorporated will post 15.98 earnings per share for the current year.

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

Mastercard Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Thursday, January 9th were given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 0.54%. This is a boost from Mastercard’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend was Friday, January 10th. Mastercard’s dividend payout ratio is 21.89%.

Analysts Set New Price Targets

MA has been the subject of a number of research reports. Piper Sandler restated an “overweight” rating and set a $635.00 target price (up previously from $591.00) on shares of Mastercard in a research report on Friday, January 31st. Raymond James reaffirmed an “outperform” rating and issued a $640.00 target price (up previously from $614.00) on shares of Mastercard in a research note on Friday, January 31st. Mizuho raised their price target on Mastercard from $496.00 to $532.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Wells Fargo & Company upped their price objective on Mastercard from $585.00 to $625.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Mastercard from $510.00 to $580.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $603.08.

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.