New York State Common Retirement Fund Decreases Stock Position in Mastercard Incorporated (NYSE:MA)

New York State Common Retirement Fund decreased its holdings in shares of Mastercard Incorporated (NYSE:MA) by 1.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,123,053 shares of the credit services provider’s stock after selling 11,539 shares during the period. Mastercard makes up approximately 0.8% of New York State Common Retirement Fund’s investment portfolio, making the stock its 15th largest holding. New York State Common Retirement Fund’s holdings in Mastercard were worth $591,366,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Highline Wealth Partners LLC acquired a new stake in Mastercard during the 3rd quarter worth about $25,000. First Personal Financial Services purchased a new position in shares of Mastercard in the third quarter worth about $39,000. FSA Wealth Management LLC acquired a new stake in shares of Mastercard during the third quarter worth about $54,000. Raelipskie Partnership boosted its position in Mastercard by 120.0% in the third quarter. Raelipskie Partnership now owns 110 shares of the credit services provider’s stock valued at $54,000 after buying an additional 60 shares during the last quarter. Finally, Legacy Investment Solutions LLC acquired a new position in Mastercard in the 3rd quarter worth approximately $55,000. Institutional investors and hedge funds own 97.28% of the company’s stock.

Mastercard Stock Up 0.6 %

Shares of NYSE MA opened at $567.90 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.68. The company has a 50-day moving average of $537.10 and a 200 day moving average of $511.77. Mastercard Incorporated has a 12-month low of $428.86 and a 12-month high of $576.94. The stock has a market cap of $521.24 billion, a PE ratio of 40.89, a P/E/G ratio of 2.37 and a beta of 1.10.

Mastercard (NYSE:MA) last posted its quarterly earnings results 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, sell-side analysts predict that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Mastercard Dividend Announcement

The company 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. The ex-dividend date is Wednesday, April 9th. This represents a $3.04 annualized dividend and a dividend yield of 0.54%. Mastercard’s payout ratio is 21.89%.

Mastercard declared that its Board of Directors has approved a share repurchase program on Tuesday, December 17th that permits the company to buyback $12.00 billion in outstanding shares. This buyback authorization permits the credit services provider to purchase up to 2.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

MA has been the subject of several research reports. Macquarie lifted their price objective 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. UBS Group boosted their target price on shares of Mastercard from $600.00 to $660.00 and gave the company a “buy” rating in a research report on Friday, January 31st. TD Cowen upped their price target on shares of Mastercard from $533.00 to $567.00 and gave the company a “buy” rating in a report on Friday, November 15th. Jefferies Financial Group lifted their price objective on Mastercard from $590.00 to $610.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, JPMorgan Chase & Co. lifted their price target on Mastercard from $590.00 to $610.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Mastercard presently has an average rating of “Moderate Buy” and a consensus price target of $606.11.

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.