Geode Capital Management LLC Increases Stock Position in Mastercard Incorporated (NYSE:MA)

Geode Capital Management LLC boosted its stake in shares of Mastercard Incorporated (NYSE:MA - Free Report) by 1.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 18,657,792 shares of the credit services provider's stock after acquiring an additional 282,739 shares during the period. Mastercard comprises about 0.8% of Geode Capital Management LLC's holdings, making the stock its 16th biggest holding. Geode Capital Management LLC owned 2.03% of Mastercard worth $9,800,202,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its stake in Mastercard by 4.8% during the 3rd quarter. Principal Financial Group Inc. now owns 3,031,915 shares of the credit services provider's stock worth $1,497,160,000 after purchasing an additional 138,842 shares during the last quarter. FSA Wealth Management LLC acquired a new position in Mastercard during the third quarter worth about $54,000. Kestra Investment Management LLC purchased a new stake in Mastercard during the 3rd quarter valued at about $893,000. Paloma Partners Management Co raised its holdings in Mastercard by 82.0% in the 3rd quarter. Paloma Partners Management Co now owns 1,294 shares of the credit services provider's stock valued at $639,000 after acquiring an additional 583 shares during the last quarter. Finally, Benjamin Edwards Inc. lifted its stake in Mastercard by 1,664.2% in the 3rd quarter. Benjamin Edwards Inc. now owns 100,736 shares of the credit services provider's stock worth $49,761,000 after purchasing an additional 95,026 shares in the last quarter. 97.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MA. Raymond James restated 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. Seaport Res Ptn cut shares of Mastercard from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 14th. UBS Group upped their price objective on shares of Mastercard from $600.00 to $660.00 and gave the stock a "buy" rating in a report on Friday, January 31st. Barclays boosted their target price on Mastercard from $595.00 to $650.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. lifted their price objective on Mastercard from $590.00 to $610.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. 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 company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $606.11.

Mastercard Stock Down 7.7 %

NYSE:MA traded down $40.61 during midday trading on Friday, hitting $489.94. 6,121,351 shares of the company were exchanged, compared to its average volume of 2,568,828. Mastercard Incorporated has a fifty-two week low of $428.86 and a fifty-two week high of $582.23. The company has a market capitalization of $446.68 billion, a PE ratio of 35.27, a price-to-earnings-growth ratio of 2.37 and a beta of 1.06. 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 company has a fifty day simple moving average of $550.92 and a 200 day simple moving average of $528.26.

Mastercard (NYSE:MA - Get Free Report) last posted its 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%. As a group, equities analysts anticipate that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Wednesday, April 9th will be issued a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 0.62%. The ex-dividend date is Wednesday, April 9th. Mastercard's payout ratio is currently 21.89%.

Mastercard declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, December 17th that permits the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization permits the credit services provider to repurchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board believes its stock is undervalued.

Insider Transactions at Mastercard

In related news, insider Edward Grunde Mclaughlin sold 7,132 shares of the firm's stock in a transaction dated 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 transaction, 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael Miebach sold 15,775 shares of the company's stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 84,871 shares of the company's stock, valued at approximately $46,692,629.36. This represents a 15.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.10% of the company's stock.

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.