HighPoint Advisor Group LLC Raises Position in Mastercard Incorporated (NYSE:MA)

HighPoint Advisor Group LLC boosted its holdings in Mastercard Incorporated (NYSE:MA - Free Report) by 3.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,586 shares of the credit services provider's stock after acquiring an additional 882 shares during the period. Mastercard accounts for about 0.7% of HighPoint Advisor Group LLC's portfolio, making the stock its 25th largest holding. HighPoint Advisor Group LLC's holdings in Mastercard were worth $13,311,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Franklin Resources Inc. boosted its stake in Mastercard by 2.8% during the fourth quarter. Franklin Resources Inc. now owns 7,714,073 shares of the credit services provider's stock worth $4,061,998,000 after buying an additional 212,259 shares during the period. Family Legacy Inc. lifted its holdings in shares of Mastercard by 2.1% in the 4th quarter. Family Legacy Inc. now owns 2,335 shares of the credit services provider's stock worth $1,206,000 after acquiring an additional 48 shares during the last quarter. Seven Mile Advisory boosted its position in shares of Mastercard by 8.8% during the 4th quarter. Seven Mile Advisory now owns 2,581 shares of the credit services provider's stock worth $1,359,000 after purchasing an additional 208 shares during the period. Summit Financial LLC increased its holdings in Mastercard by 17.6% in the 4th quarter. Summit Financial LLC now owns 11,135 shares of the credit services provider's stock valued at $5,863,000 after purchasing an additional 1,665 shares during the last quarter. Finally, Hoey Investments Inc. increased its holdings in Mastercard by 1,100.0% in the 4th quarter. Hoey Investments Inc. now owns 600 shares of the credit services provider's stock valued at $316,000 after purchasing an additional 550 shares during the last quarter. 97.28% of the stock is currently owned by hedge funds and other institutional investors.

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Mastercard Stock Performance

Mastercard stock traded down $17.23 during midday trading on Thursday, hitting $530.15. 3,419,238 shares of the company's stock were exchanged, compared to its average volume of 2,552,953. The firm's 50 day simple moving average is $551.87 and its 200 day simple moving average is $528.12. Mastercard Incorporated has a 12-month low of $428.86 and a 12-month 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 cap of $483.35 billion, a price-to-earnings ratio of 38.17, a price-to-earnings-growth ratio of 2.37 and a beta of 1.10.

Mastercard (NYSE:MA - Get Free Report) last posted its quarterly earnings data 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%. Equities research analysts predict that Mastercard Incorporated will post 15.91 EPS for the current year.

Mastercard Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Wednesday, April 9th will be issued 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 0.57%. Mastercard's dividend payout ratio is currently 21.89%.

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Susquehanna raised their price target on Mastercard from $605.00 to $670.00 and gave the stock a "positive" rating in a research report on Friday, January 31st. Piper Sandler restated an "overweight" rating and set a $635.00 target price (up from $591.00) on shares of Mastercard in a report on Friday, January 31st. KeyCorp boosted their price target on shares of Mastercard from $600.00 to $630.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Citigroup raised their price objective on shares of Mastercard from $584.00 to $650.00 and gave the company a "buy" rating in a research note on Friday, January 31st. Finally, Barclays lifted their price objective on shares of Mastercard from $595.00 to $650.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Four investment 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $606.11.

Insiders Place Their Bets

In related news, insider Edward Grunde Mclaughlin sold 7,132 shares of Mastercard stock in a transaction on 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 completion of the transaction, the insider now directly owns 34,524 shares of the company's stock, valued at approximately $18,459,292.32. The trade was a 17.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Michael Miebach sold 15,775 shares of the business's stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $550.16, for a total value of $8,678,774.00. Following the sale, the chief executive officer now owns 84,871 shares in the company, valued at approximately $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 insiders.

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.