Destination Wealth Management Sells 2,155 Shares of Mastercard Incorporated (NYSE:MA)

Destination Wealth Management reduced its position in Mastercard Incorporated (NYSE:MA - Free Report) by 2.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 105,680 shares of the credit services provider's stock after selling 2,155 shares during the quarter. Mastercard makes up about 1.7% of Destination Wealth Management's holdings, making the stock its 20th largest position. Destination Wealth Management's holdings in Mastercard were worth $55,648,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. NewSquare Capital LLC bought a new stake in Mastercard during the fourth quarter valued at $26,000. Halbert Hargrove Global Advisors LLC purchased a new position in shares of Mastercard in the fourth quarter worth about $32,000. Marshall Investment Management LLC purchased a new position in shares of Mastercard in the fourth quarter worth about $30,000. FPC Investment Advisory Inc. increased its holdings in shares of Mastercard by 483.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 70 shares of the credit services provider's stock worth $39,000 after buying an additional 58 shares during the period. Finally, First Personal Financial Services purchased a new position in shares of Mastercard in the third quarter worth about $39,000. 97.28% of the stock is owned by institutional investors.

Mastercard Stock Down 0.5 %

Mastercard stock traded down $2.84 during trading hours on Friday, hitting $546.98. 3,161,263 shares of the stock traded hands, compared to its average volume of 2,646,326. 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 firm's 50-day moving average price is $545.15 and its two-hundred day moving average price is $520.77. Mastercard Incorporated has a one year low of $428.86 and a one year high of $582.23. The company has a market cap of $498.68 billion, a PE ratio of 39.38, a PEG ratio of 2.37 and a beta of 1.10.

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

Mastercard announced that its Board of Directors has approved a share repurchase program 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 shares through open market purchases. Shares repurchase programs are generally an indication that the company's leadership believes its stock is undervalued.

Mastercard Dividend Announcement

The business 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 $0.76 dividend. The ex-dividend date is Wednesday, April 9th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.56%. Mastercard's dividend payout ratio is currently 21.89%.

Wall Street Analyst Weigh In

Several research firms have recently commented on MA. Seaport Res Ptn downgraded Mastercard from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 14th. Macquarie lifted their price objective on Mastercard from $565.00 to $645.00 and gave the stock an "outperform" rating in a report on Friday, January 31st. Royal Bank of Canada lifted their price objective on Mastercard from $572.00 to $650.00 and gave the stock an "outperform" rating in a report on Friday, January 31st. Citigroup lifted their price objective on Mastercard from $584.00 to $650.00 and gave the stock a "buy" rating in a report on Friday, January 31st. Finally, Barclays boosted their price target on Mastercard from $595.00 to $650.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Mastercard presently has an average rating of "Moderate Buy" and an average target price 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.