Kane Investment Management Inc. Purchases New Holdings in Mastercard Incorporated (NYSE:MA)

Kane Investment Management Inc. bought a new stake in Mastercard Incorporated (NYSE:MA - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 4,658 shares of the credit services provider's stock, valued at approximately $2,453,000. Mastercard comprises about 1.4% of Kane Investment Management Inc.'s holdings, making the stock its 12th biggest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank acquired a new position in shares of Mastercard in the 4th quarter valued at $6,022,224,000. Raymond James Financial Inc. bought a new stake in Mastercard in the fourth quarter valued at about $837,017,000. Proficio Capital Partners LLC raised its position in Mastercard by 79,739.7% in the fourth quarter. Proficio Capital Partners LLC now owns 1,555,277 shares of the credit services provider's stock worth $818,962,000 after purchasing an additional 1,553,329 shares in the last quarter. Sanders Capital LLC bought a new position in Mastercard during the fourth quarter worth about $617,303,000. Finally, FMR LLC boosted its holdings in Mastercard by 4.3% during the fourth quarter. FMR LLC now owns 22,267,937 shares of the credit services provider's stock valued at $11,725,627,000 after purchasing an additional 912,856 shares in the last quarter. Institutional investors own 97.28% of the company's stock.

Mastercard Stock Performance

NYSE MA traded up $4.03 on Friday, hitting $517.46. 3,329,748 shares of the stock were exchanged, compared to its average volume of 2,621,853. The company has a market capitalization of $471.77 billion, a PE ratio of 37.25, a P/E/G ratio of 2.37 and a beta of 1.06. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.03 and a quick ratio of 1.03. The business's fifty day moving average is $538.81 and its 200 day moving average is $528.64. Mastercard Incorporated has a 52 week low of $428.86 and a 52 week high of $582.23.

Mastercard (NYSE:MA - Get Free Report) last issued its earnings results on Thursday, January 30th. The credit services provider reported $3.82 earnings per share (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%. Research analysts anticipate that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Mastercard Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Wednesday, April 9th will be paid a dividend of $0.76 per share. The ex-dividend date is Wednesday, April 9th. This represents a $3.04 annualized dividend and a dividend yield of 0.59%. Mastercard's dividend payout ratio is currently 21.89%.

Insider Activity at Mastercard

In other Mastercard news, CEO Michael Miebach sold 15,775 shares of the 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 transaction, the chief executive officer now directly owns 84,871 shares of the company's stock, valued at $46,692,629.36. This represents a 15.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Edward Grunde Mclaughlin sold 7,132 shares of the firm's stock in a transaction that occurred 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 sale, the insider now owns 34,524 shares of the company's stock, valued at $18,459,292.32. This trade represents a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on MA. Royal Bank of Canada raised their target price on Mastercard from $572.00 to $650.00 and gave the stock an "outperform" rating in a research report on Friday, January 31st. Evercore ISI initiated coverage on Mastercard in a research note on Wednesday, April 9th. They issued an "in-line" rating and a $550.00 target price for the company. William Blair reissued an "outperform" rating on shares of Mastercard in a report on Friday, January 31st. Piper Sandler reissued an "overweight" rating and set a $635.00 price objective (up from $591.00) on shares of Mastercard in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. increased their price target on Mastercard from $590.00 to $610.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Six investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Mastercard presently has a consensus rating of "Moderate Buy" and an average price target of $607.96.

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.