Mastercard Incorporated (NYSE:MA) Shares Sold by Parnassus Investments LLC

Parnassus Investments LLC trimmed its position in Mastercard Incorporated (NYSE:MA) by 6.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,639,185 shares of the credit services provider’s stock after selling 180,449 shares during the quarter. Mastercard comprises approximately 3.1% of Parnassus Investments LLC’s holdings, making the stock its 6th largest position. Parnassus Investments LLC owned 0.29% of Mastercard worth $1,389,716,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. NewSquare Capital LLC acquired a new stake in shares of Mastercard in the fourth quarter worth $26,000. Halbert Hargrove Global Advisors LLC acquired a new position in Mastercard during the 4th quarter valued at $32,000. Marshall Investment Management LLC acquired a new position in Mastercard during the 4th quarter valued at $30,000. Truvestments Capital LLC raised its stake in Mastercard by 62.5% during the 4th quarter. Truvestments Capital LLC now owns 65 shares of the credit services provider’s stock valued at $34,000 after purchasing an additional 25 shares during the last quarter. Finally, FPC Investment Advisory Inc. raised its stake in Mastercard by 483.3% during the 4th quarter. FPC Investment Advisory Inc. now owns 70 shares of the credit services provider’s stock valued at $39,000 after purchasing an additional 58 shares during the last quarter. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Mastercard Stock Down 1.0 %

Shares of NYSE:MA opened at $519.38 on Friday. Mastercard Incorporated has a 12 month low of $428.86 and a 12 month high of $582.23. The company’s 50-day moving average price is $545.25 and its two-hundred day moving average price is $522.03. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.68. The firm has a market cap of $473.52 billion, a P/E ratio of 37.39, a P/E/G ratio of 2.37 and a beta of 1.10.

Mastercard (NYSE:MA) last issued its earnings results on Thursday, January 30th. The credit services provider reported $3.82 earnings per share (EPS) for the quarter, beating 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%. As a group, research analysts forecast that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

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

Mastercard Dividend Announcement

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

Analysts Set New Price Targets

MA has been the subject of several research analyst reports. Macquarie upped their target price on shares of Mastercard from $565.00 to $645.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Royal Bank of Canada increased their price objective on shares of Mastercard from $572.00 to $650.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Barclays increased their price objective on shares of Mastercard from $595.00 to $650.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. KeyCorp increased their price objective on shares of Mastercard from $600.00 to $630.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Susquehanna increased their price objective on shares of Mastercard from $605.00 to $670.00 and gave the company a “positive” rating in a research note on Friday, January 31st. Four investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $606.11.

About Mastercard

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.