Washington Trust Bank Sells 1,015 Shares of Mastercard Incorporated (NYSE:MA)

Washington Trust Bank lessened its stake in shares of Mastercard Incorporated (NYSE:MA - Free Report) by 2.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 38,316 shares of the credit services provider's stock after selling 1,015 shares during the period. Mastercard comprises about 1.9% of Washington Trust Bank's portfolio, making the stock its 13th largest holding. Washington Trust Bank's holdings in Mastercard were worth $20,176,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of MA. State Street Corp raised its holdings in shares of Mastercard by 0.7% during the third quarter. State Street Corp now owns 35,288,912 shares of the credit services provider's stock valued at $17,425,665,000 after acquiring an additional 257,312 shares during the period. FMR LLC grew its position in Mastercard by 3.4% during the 3rd quarter. FMR LLC now owns 21,355,081 shares of the credit services provider's stock worth $10,545,139,000 after purchasing an additional 700,769 shares in the last quarter. Geode Capital Management LLC raised its stake in Mastercard by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 18,375,053 shares of the credit services provider's stock valued at $9,043,972,000 after purchasing an additional 453,773 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Mastercard by 4.2% in the third quarter. Franklin Resources Inc. now owns 7,501,814 shares of the credit services provider's stock valued at $3,800,836,000 after purchasing an additional 304,293 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Mastercard by 1.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,308,684 shares of the credit services provider's stock worth $3,115,228,000 after buying an additional 64,456 shares during the period. 97.28% of the stock is owned by institutional investors.

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Insider Transactions at Mastercard

In related news, insider Edward Grunde Mclaughlin sold 7,132 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $534.68, for a total value of $3,813,337.76. Following the completion of the sale, the insider now owns 34,524 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this hyperlink. 0.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MA has been the topic of several recent analyst reports. Keefe, Bruyette & Woods upped their price target on Mastercard from $618.00 to $665.00 and gave the company an "outperform" rating in a research report on Friday, January 31st. KeyCorp upped their target price on Mastercard from $600.00 to $630.00 and gave the company an "overweight" rating in a report on Friday, January 31st. JPMorgan Chase & Co. raised their price target on shares of Mastercard from $590.00 to $610.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Royal Bank of Canada upped their price objective on shares of Mastercard from $572.00 to $650.00 and gave the company an "outperform" rating in a research note on Friday, January 31st. Finally, Monness Crespi & Hardt raised shares of Mastercard from a "neutral" rating to a "buy" rating and set a $640.00 target price for the company in a research note on Friday, January 31st. Four analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $606.11.

Mastercard Stock Performance

Mastercard stock traded up $3.97 on Wednesday, reaching $549.13. 2,681,497 shares of the stock were exchanged, compared to its average volume of 2,374,952. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.68. Mastercard Incorporated has a twelve month low of $428.86 and a twelve month high of $582.23. The firm has a fifty day moving average price of $549.05 and a two-hundred day moving average price of $525.90. The stock has a market cap of $500.64 billion, a PE ratio of 39.53, a PEG 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 earnings per share for the quarter, topping 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%. Sell-side analysts anticipate that Mastercard Incorporated will post 15.91 EPS for the current year.

Mastercard announced that its Board of Directors has approved a share buyback program on Tuesday, December 17th that permits the company to repurchase $12.00 billion in shares. This repurchase authorization permits the credit services provider to buy up to 2.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's management believes its shares are undervalued.

Mastercard Dividend Announcement

The firm also recently disclosed 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 of this dividend is Wednesday, April 9th. This represents a $3.04 annualized dividend and a dividend yield of 0.55%. Mastercard's dividend payout ratio is 21.89%.

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.