Evoke Wealth LLC Lowers Stock Holdings in Mastercard Incorporated (NYSE:MA)

Evoke Wealth LLC cut its stake in shares of Mastercard Incorporated (NYSE:MA) by 3.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,529 shares of the credit services provider’s stock after selling 934 shares during the quarter. Evoke Wealth LLC’s holdings in Mastercard were worth $16,076,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Bank of Montreal Can lifted its stake in Mastercard by 51.7% in the third quarter. Bank of Montreal Can now owns 5,765,714 shares of the credit services provider’s stock worth $2,846,187,000 after acquiring an additional 1,965,782 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Mastercard in the 4th quarter worth approximately $837,017,000. Proficio Capital Partners LLC lifted its position in shares of Mastercard by 79,739.7% in the 4th quarter. Proficio Capital Partners LLC now owns 1,555,277 shares of the credit services provider’s stock worth $818,962,000 after purchasing an additional 1,553,329 shares during the period. FMR LLC increased its holdings in Mastercard by 3.4% during the third quarter. FMR LLC now owns 21,355,081 shares of the credit services provider’s stock valued at $10,545,139,000 after buying an additional 700,769 shares during the period. Finally, Amundi raised its stake in Mastercard by 13.1% in the fourth quarter. Amundi now owns 4,899,438 shares of the credit services provider’s stock worth $2,532,541,000 after buying an additional 565,717 shares in the last quarter. 97.28% of the stock is owned by hedge funds and other institutional investors.

Mastercard Stock Performance

NYSE MA opened at $532.66 on Tuesday. The firm has a market capitalization of $485.63 billion, a P/E ratio of 38.35, a PEG ratio of 2.37 and a beta of 1.10. The stock has a 50-day simple moving average of $545.80 and a two-hundred day simple moving average of $523.50. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.03 and a current ratio of 1.03. Mastercard Incorporated has a fifty-two week low of $428.86 and a fifty-two week high of $582.23.

Mastercard (NYSE:MA) last announced its quarterly earnings results on Thursday, January 30th. The credit services provider reported $3.82 earnings per share (EPS) for the quarter, beating 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%. On average, equities analysts forecast that Mastercard Incorporated will post 15.91 earnings per share for the current year.

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

Mastercard Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Wednesday, April 9th will be given a dividend of $0.76 per share. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $3.04 annualized dividend and a yield of 0.57%. Mastercard’s dividend payout ratio is presently 21.89%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MA. William Blair reiterated an “outperform” rating on shares of Mastercard in a report on Friday, January 31st. Wells Fargo & Company lifted their target price on Mastercard from $585.00 to $625.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Royal Bank of Canada increased their price target on shares of Mastercard from $572.00 to $650.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Monness Crespi & Hardt raised shares of Mastercard from a “neutral” rating to a “buy” rating and set a $640.00 price objective on the stock in a research report on Friday, January 31st. Finally, Jefferies Financial Group boosted their price objective on shares of Mastercard from $590.00 to $610.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.