KLP Kapitalforvaltning AS Purchases New Shares in Mastercard Incorporated (NYSE:MA)

KLP Kapitalforvaltning AS purchased a new stake in shares of Mastercard Incorporated (NYSE:MA) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 355,034 shares of the credit services provider’s stock, valued at approximately $186,950,000. Mastercard makes up 0.9% of KLP Kapitalforvaltning AS’s investment portfolio, making the stock its 14th largest position.

Other hedge funds also recently added to or reduced their stakes in the company. Addison Advisors LLC boosted its holdings in Mastercard by 3.8% in the fourth quarter. Addison Advisors LLC now owns 493 shares of the credit services provider’s stock valued at $260,000 after acquiring an additional 18 shares during the last quarter. Capital Investment Advisory Services LLC boosted its holdings in Mastercard by 0.6% in the fourth quarter. Capital Investment Advisory Services LLC now owns 3,135 shares of the credit services provider’s stock valued at $1,651,000 after acquiring an additional 19 shares during the last quarter. Capital Investment Services of America Inc. boosted its holdings in 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 acquiring an additional 19 shares during the last quarter. Augustine Asset Management Inc. boosted its holdings in Mastercard by 1.1% in the fourth quarter. Augustine Asset Management Inc. now owns 1,797 shares of the credit services provider’s stock valued at $946,000 after acquiring an additional 19 shares during the last quarter. Finally, Richard W. Paul & Associates LLC boosted its holdings in Mastercard by 0.9% in the fourth quarter. Richard W. Paul & Associates LLC now owns 2,245 shares of the credit services provider’s stock valued at $1,182,000 after acquiring an additional 19 shares during the last quarter. 97.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on MA shares. Jefferies Financial Group increased their price target on Mastercard from $590.00 to $610.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Monness Crespi & Hardt upgraded Mastercard from a “neutral” rating to a “buy” rating and set a $640.00 target price on the stock in a report on Friday, January 31st. Barclays increased their target price on Mastercard from $595.00 to $650.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Tigress Financial reiterated a “strong-buy” rating on shares of Mastercard in a report on Monday, March 10th. Finally, Keefe, Bruyette & Woods increased their price target on Mastercard from $618.00 to $665.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Four analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $606.11.

Insiders Place Their Bets

In related news, insider Edward Grunde Mclaughlin sold 7,132 shares of Mastercard stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $534.68, for a total transaction of $3,813,337.76. Following the sale, the insider now owns 34,524 shares of the company’s stock, valued at approximately $18,459,292.32. This trade represents a 17.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.10% of the stock is owned by company insiders.

Mastercard Trading Down 0.2 %

NYSE MA opened at $535.14 on Friday. Mastercard Incorporated has a 12 month low of $428.86 and a 12 month high of $582.23. The stock has a market cap of $487.89 billion, a P/E ratio of 38.53, a P/E/G ratio of 2.37 and a beta of 1.10. The stock’s fifty day moving average price is $547.55 and its 200-day moving average price is $524.36. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.68.

Mastercard (NYSE:MA) last released its quarterly earnings data on Thursday, January 30th. The credit services provider reported $3.82 EPS for the quarter, beating the consensus estimate of $3.71 by $0.11. Mastercard had a return on equity of 188.47% and a net margin of 45.71%. As a group, equities analysts forecast that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Mastercard Dividend Announcement

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. This represents a $3.04 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date is Wednesday, April 9th. Mastercard’s dividend payout ratio is 21.89%.

Mastercard announced that its Board of Directors has initiated a share repurchase plan on Tuesday, December 17th that authorizes the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization authorizes the credit services provider to purchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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.