Cove Private Wealth LLC Purchases Shares of 3,009 Mastercard Incorporated (NYSE:MA)

Cove Private Wealth LLC purchased a new stake in Mastercard Incorporated (NYSE:MA) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 3,009 shares of the credit services provider’s stock, valued at approximately $1,584,000. Mastercard accounts for approximately 1.0% of Cove Private Wealth LLC’s holdings, making the stock its 26th biggest holding.

Several other large investors also recently made changes to their positions in MA. Highline Wealth Partners LLC acquired a new stake in Mastercard in the 3rd quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Mastercard during the 2nd quarter worth approximately $34,000. First Personal Financial Services acquired a new stake in shares of Mastercard in the third quarter valued at approximately $39,000. Lowe Wealth Advisors LLC lifted its position in shares of Mastercard by 74.0% in the third quarter. Lowe Wealth Advisors LLC now owns 87 shares of the credit services provider’s stock worth $43,000 after purchasing an additional 37 shares in the last quarter. Finally, FSA Wealth Management LLC bought a new stake in shares of Mastercard in the third quarter worth $54,000. Institutional investors own 97.28% of the company’s stock.

Mastercard Stock Performance

MA opened at $525.22 on Monday. The firm has a market cap of $482.06 billion, a P/E ratio of 39.73, a price-to-earnings-growth ratio of 2.00 and a beta of 1.10. The business’s fifty day moving average is $524.28 and its 200-day moving average is $494.59. Mastercard Incorporated has a 52-week low of $427.45 and a 52-week high of $537.70. The company has a debt-to-equity ratio of 2.36, a quick ratio of 1.29 and a current ratio of 1.29.

Mastercard (NYSE:MA) last released its earnings results on Thursday, October 31st. The credit services provider reported $3.89 EPS for the quarter, beating the consensus estimate of $3.73 by $0.16. The firm had revenue of $7.37 billion for the quarter, compared to analyst estimates of $7.27 billion. Mastercard had a net margin of 45.26% and a return on equity of 178.27%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period last year, the firm earned $3.39 EPS. Sell-side analysts expect that Mastercard Incorporated will post 14.46 EPS for the current fiscal year.

Mastercard announced that its board has authorized a stock 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 purchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Mastercard Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Thursday, January 9th will be paid a $0.76 dividend. This is a positive change from Mastercard’s previous quarterly dividend of $0.66. The ex-dividend date is Friday, January 10th. This represents a $3.04 annualized dividend and a dividend yield of 0.58%. Mastercard’s dividend payout ratio (DPR) is presently 19.97%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Barclays lifted their price target on shares of Mastercard from $536.00 to $576.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Robert W. Baird lifted their target price on Mastercard from $545.00 to $575.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Piper Sandler reissued an “overweight” rating and set a $575.00 price target (up from $565.00) on shares of Mastercard in a research report on Friday, November 15th. Morgan Stanley raised their price target on Mastercard from $564.00 to $654.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Finally, Jefferies Financial Group upped their price objective on Mastercard from $590.00 to $610.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Four research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $566.63.

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.