Cove Private Wealth LLC Takes Position in Mastercard Incorporated (NYSE:MA)

Cove Private Wealth LLC acquired a new position in Mastercard Incorporated (NYSE:MA - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 3,009 shares of the credit services provider's stock, valued at approximately $1,584,000. Mastercard accounts for approximately 1.0% of Cove Private Wealth LLC's portfolio, making the stock its 26th largest holding.

A number of other hedge funds also recently made changes to their positions in the business. Goldstein Advisors LLC boosted its stake in Mastercard by 1.3% in the 3rd quarter. Goldstein Advisors LLC now owns 1,516 shares of the credit services provider's stock worth $749,000 after purchasing an additional 20 shares during the period. Community Bank N.A. lifted its holdings in shares of Mastercard by 0.9% in the third quarter. Community Bank N.A. now owns 2,190 shares of the credit services provider's stock valued at $1,081,000 after purchasing an additional 20 shares in the last quarter. Raab & Moskowitz Asset Management LLC boosted its position in shares of Mastercard by 1.5% in the third quarter. Raab & Moskowitz Asset Management LLC now owns 1,398 shares of the credit services provider's stock worth $690,000 after buying an additional 20 shares during the period. Boltwood Capital Management grew its holdings in shares of Mastercard by 1.0% during the fourth quarter. Boltwood Capital Management now owns 2,055 shares of the credit services provider's stock valued at $1,082,000 after buying an additional 20 shares in the last quarter. Finally, Traveka Wealth LLC raised its position in Mastercard by 1.4% during the fourth quarter. Traveka Wealth LLC now owns 1,478 shares of the credit services provider's stock valued at $778,000 after buying an additional 20 shares during the period. Institutional investors own 97.28% of the company's stock.

Mastercard Price Performance

Shares of NYSE:MA traded up $2.08 during trading on Monday, reaching $525.22. The stock had a trading volume of 2,373,992 shares, compared to its average volume of 2,205,146. The stock has a market capitalization of $482.06 billion, a PE ratio of 39.73, a P/E/G ratio of 2.00 and a beta of 1.10. The company has a debt-to-equity ratio of 2.36, a current ratio of 1.29 and a quick ratio of 1.29. Mastercard Incorporated has a 52 week low of $427.45 and a 52 week high of $537.70. The business's 50-day moving average price is $524.28 and its 200 day moving average price is $494.92.

Mastercard (NYSE:MA - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The credit services provider reported $3.89 EPS for the quarter, topping analysts' consensus estimates of $3.73 by $0.16. The company had revenue of $7.37 billion for the quarter, compared to analyst estimates of $7.27 billion. Mastercard had a return on equity of 178.27% and a net margin of 45.26%. The business's revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.39 earnings per share. As a group, equities analysts predict that Mastercard Incorporated will post 14.46 earnings per share for the current year.

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

Mastercard Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Thursday, January 9th will be issued a dividend of $0.76 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $3.04 dividend on an annualized basis and a yield of 0.58%. This is a positive change from Mastercard's previous quarterly dividend of $0.66. Mastercard's dividend payout ratio is currently 19.97%.

Analysts Set New Price Targets

MA has been the topic of several research analyst reports. Susquehanna lifted their target price on Mastercard from $540.00 to $605.00 and gave the company a "positive" rating in a research note on Friday, November 1st. Barclays boosted their price objective on shares of Mastercard from $536.00 to $576.00 and gave the company an "overweight" rating in a research report on Thursday, October 10th. William Blair reissued an "outperform" rating on shares of Mastercard in a research note on Monday, November 25th. TD Cowen increased their price objective on Mastercard from $533.00 to $567.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Finally, Jefferies Financial Group upped their target price on Mastercard from $590.00 to $610.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Mastercard has a consensus rating of "Moderate Buy" and an average target price of $566.63.

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.