Providence Wealth Advisors LLC Decreases Stock Holdings in Mastercard Incorporated (NYSE:MA)

Providence Wealth Advisors LLC cut its holdings in shares of Mastercard Incorporated (NYSE:MA) by 4.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,578 shares of the credit services provider’s stock after selling 110 shares during the quarter. Providence Wealth Advisors LLC’s holdings in Mastercard were worth $1,325,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. NewSquare Capital LLC purchased a new stake in Mastercard in the fourth quarter worth $26,000. Marshall Investment Management LLC bought a new position in shares of Mastercard during the 4th quarter worth $30,000. Halbert Hargrove Global Advisors LLC bought a new stake in Mastercard in the 4th quarter valued at about $32,000. Truvestments Capital LLC lifted its holdings in Mastercard by 62.5% during the fourth 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, CoreFirst Bank & Trust purchased a new position in shares of Mastercard in the fourth quarter worth about $37,000. 97.28% of the stock is owned by hedge funds and other institutional investors.

Mastercard Stock Up 0.7 %

MA opened at $549.13 on Thursday. The stock has a market capitalization of $500.64 billion, a price-to-earnings ratio of 39.53, a PEG ratio of 2.37 and a beta of 1.10. The firm has a 50 day moving average price of $549.58 and a 200-day moving average price of $526.06. Mastercard Incorporated has a twelve month low of $428.86 and a twelve month high of $582.23. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.68.

Mastercard (NYSE:MA) last released its quarterly earnings results on Thursday, January 30th. The credit services provider reported $3.82 earnings per share 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%. Equities research analysts forecast that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Announces Dividend

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 0.55%. The ex-dividend date of this dividend is Wednesday, April 9th. Mastercard’s payout ratio is currently 21.89%.

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

Wall Street Analysts Forecast Growth

MA has been the subject of a number of analyst reports. Jefferies Financial Group raised their price objective on shares of Mastercard from $590.00 to $610.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Monness Crespi & Hardt raised shares of Mastercard from a “neutral” rating to a “buy” rating and set a $640.00 price target on the stock in a report on Friday, January 31st. DZ Bank raised shares of Mastercard from a “hold” rating to a “buy” rating and set a $620.00 price objective for the company in a report on Tuesday, February 4th. Raymond James reiterated an “outperform” rating and issued a $640.00 target price (up from $614.00) on shares of Mastercard in a research report on Friday, January 31st. Finally, Oppenheimer dropped their target price on Mastercard from $591.00 to $588.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Four research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $606.11.

Insider Transactions at Mastercard

In other news, insider Edward Grunde Mclaughlin sold 7,132 shares of Mastercard stock in a transaction dated 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 transaction, the insider now directly owns 34,524 shares of the company’s stock, valued at $18,459,292.32. The trade was a 17.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.10% of the company’s stock.

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.