Congress Wealth Management LLC DE Cuts Stock Holdings in Mastercard Incorporated (NYSE:MA)

Congress Wealth Management LLC DE lowered its position in shares of Mastercard Incorporated (NYSE:MA - Free Report) by 36.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,722 shares of the credit services provider's stock after selling 12,788 shares during the period. Congress Wealth Management LLC DE's holdings in Mastercard were worth $11,966,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MA. Vanguard Group Inc. raised its holdings in Mastercard by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 77,179,138 shares of the credit services provider's stock worth $40,640,219,000 after purchasing an additional 377,302 shares in the last quarter. State Street Corp raised its holdings in Mastercard by 0.7% in the third quarter. State Street Corp now owns 35,288,912 shares of the credit services provider's stock worth $17,425,665,000 after purchasing an additional 257,312 shares in the last quarter. FMR LLC lifted its position 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. Geode Capital Management LLC boosted its holdings in shares of Mastercard by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 18,375,053 shares of the credit services provider's stock valued at $9,043,972,000 after buying an additional 453,773 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in shares of Mastercard by 4.2% in the 3rd quarter. Franklin Resources Inc. now owns 7,501,814 shares of the credit services provider's stock worth $3,800,836,000 after buying an additional 304,293 shares during the period. Institutional investors own 97.28% of the company's stock.

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Mastercard Stock Performance

Shares of NYSE MA traded down $10.24 during midday trading on Friday, hitting $547.33. 387,580 shares of the company's stock traded hands, compared to its average volume of 2,703,418. The firm has a fifty day moving average of $550.27 and a 200 day moving average of $526.28. Mastercard Incorporated has a 1 year low of $428.86 and a 1 year high of $582.23. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $499.01 billion, a price-to-earnings ratio of 39.41, a price-to-earnings-growth ratio of 2.37 and a beta of 1.10.

Mastercard (NYSE:MA - Get Free Report) last announced its earnings results on Thursday, January 30th. The credit services provider reported $3.82 EPS for the quarter, beating analysts' consensus estimates of $3.71 by $0.11. Mastercard had a net margin of 45.71% and a return on equity of 188.47%. On average, analysts forecast that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard announced that its Board of Directors has initiated a stock repurchase 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 reacquire up to 2.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company's management believes its shares are undervalued.

Mastercard Announces Dividend

The business also recently announced 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 is Wednesday, April 9th. This represents a $3.04 annualized dividend and a yield of 0.56%. Mastercard's dividend payout ratio (DPR) is presently 21.89%.

Insider Buying and Selling at Mastercard

In other Mastercard news, insider Edward Grunde Mclaughlin sold 7,132 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $534.68, for a total value of $3,813,337.76. Following the completion of the sale, the insider now owns 34,524 shares in the company, valued at approximately $18,459,292.32. This represents a 17.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael Miebach sold 15,775 shares of the business's stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $550.16, for a total value of $8,678,774.00. Following the completion of the transaction, the chief executive officer now owns 84,871 shares in the company, valued at $46,692,629.36. The trade was a 15.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

MA has been the subject of a number of recent research reports. Jefferies Financial Group lifted their price target 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. Raymond James reissued an "outperform" rating and issued a $640.00 price target (up from $614.00) on shares of Mastercard in a research report on Friday, January 31st. Susquehanna upped their price target on Mastercard from $605.00 to $670.00 and gave the stock a "positive" rating in a research note on Friday, January 31st. Morgan Stanley lowered their price objective on Mastercard from $654.00 to $644.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Finally, Oppenheimer cut their target price on Mastercard from $591.00 to $588.00 and set an "outperform" rating on the stock in a research note 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 stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $606.11.

Mastercard Company 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.