Meeder Asset Management Inc. Buys 58,697 Shares of Mastercard Incorporated (NYSE:MA)

Meeder Asset Management Inc. increased its stake in shares of Mastercard Incorporated (NYSE:MA - Free Report) by 493.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 70,591 shares of the credit services provider's stock after acquiring an additional 58,697 shares during the quarter. Mastercard comprises about 2.6% of Meeder Asset Management Inc.'s portfolio, making the stock its 10th largest holding. Meeder Asset Management Inc.'s holdings in Mastercard were worth $37,171,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Mastercard in the fourth quarter worth about $6,022,224,000. Raymond James Financial Inc. purchased a new stake in shares of Mastercard during the 4th quarter worth approximately $837,017,000. Proficio Capital Partners LLC boosted its position in shares of Mastercard by 79,739.7% during the 4th quarter. Proficio Capital Partners LLC now owns 1,555,277 shares of the credit services provider's stock valued at $818,962,000 after acquiring an additional 1,553,329 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Mastercard by 9.1% in the fourth quarter. Wellington Management Group LLP now owns 9,760,740 shares of the credit services provider's stock valued at $5,139,713,000 after purchasing an additional 817,836 shares in the last quarter. Finally, American Century Companies Inc. increased its position in Mastercard by 12.9% in the fourth quarter. American Century Companies Inc. now owns 5,079,915 shares of the credit services provider's stock worth $2,674,932,000 after purchasing an additional 581,697 shares during the last quarter. 97.28% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity at Mastercard

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

Mastercard Stock Performance

MA stock traded down $26.27 during trading on Friday, reaching $504.28. The company had a trading volume of 2,108,285 shares, compared to its average volume of 2,553,303. The company has a market cap of $459.76 billion, a price-to-earnings ratio of 36.28, a price-to-earnings-growth ratio of 2.37 and a beta of 1.06. Mastercard Incorporated has a twelve month low of $428.86 and a twelve 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 firm has a 50-day simple moving average of $551.80 and a 200-day simple moving average of $528.13.

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, topping the consensus estimate of $3.71 by $0.11. Mastercard had a net margin of 45.71% and a return on equity of 188.47%. As a group, sell-side analysts expect that Mastercard Incorporated will post 15.91 earnings per share for the current year.

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

Mastercard Dividend Announcement

The company also recently announced 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. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date is Wednesday, April 9th. Mastercard's dividend payout ratio (DPR) is 21.89%.

Analyst Upgrades and Downgrades

MA has been the topic of several analyst reports. Citigroup boosted their price objective on Mastercard from $584.00 to $650.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. Jefferies Financial Group increased their price target on Mastercard from $590.00 to $610.00 and gave the company a "buy" rating in a report on Monday, December 9th. Raymond James reiterated an "outperform" rating and set a $640.00 price objective (up previously from $614.00) on shares of Mastercard in a research report on Friday, January 31st. Royal Bank of Canada raised their target price on shares of Mastercard from $572.00 to $650.00 and gave the stock an "outperform" rating in a report on Friday, January 31st. Finally, Macquarie upped their price target on shares of Mastercard from $565.00 to $645.00 and gave the company an "outperform" rating in a report on Friday, January 31st. Four 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's stock. According to data from MarketBeat, Mastercard has a consensus rating of "Moderate Buy" and a consensus 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.