Sandy Spring Bank Reduces Stock Position in Mastercard Incorporated (NYSE:MA)

Sandy Spring Bank lowered its position in Mastercard Incorporated (NYSE:MA - Free Report) by 2.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,959 shares of the credit services provider's stock after selling 1,164 shares during the period. Mastercard comprises approximately 1.0% of Sandy Spring Bank's holdings, making the stock its 22nd largest position. Sandy Spring Bank's holdings in Mastercard were worth $23,674,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Swedbank AB raised its holdings in Mastercard by 14.8% during the third quarter. Swedbank AB now owns 1,874,568 shares of the credit services provider's stock worth $925,662,000 after purchasing an additional 241,297 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of 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 buying an additional 138,842 shares during the last quarter. Prospera Financial Services Inc boosted its position in shares of Mastercard by 2.0% in the 3rd quarter. Prospera Financial Services Inc now owns 10,091 shares of the credit services provider's stock worth $4,990,000 after buying an additional 196 shares in the last quarter. BIP Wealth LLC increased its holdings in Mastercard by 29.3% during the 3rd quarter. BIP Wealth LLC now owns 985 shares of the credit services provider's stock valued at $486,000 after acquiring an additional 223 shares in the last quarter. Finally, Premier Fund Managers Ltd raised its position in Mastercard by 8.3% during the third quarter. Premier Fund Managers Ltd now owns 28,067 shares of the credit services provider's stock worth $13,847,000 after acquiring an additional 2,145 shares during the last quarter. Hedge funds and other institutional investors own 97.28% of the company's stock.

Remove Ads

Mastercard Trading Up 1.5 %

MA stock traded up $8.13 during midday trading on Monday, reaching $543.82. 2,758,655 shares of the company's stock traded hands, compared to its average volume of 2,377,778. Mastercard Incorporated has a fifty-two week low of $428.86 and a fifty-two week high of $582.23. The business has a 50-day moving average price of $547.55 and a two-hundred day moving average price of $524.95. The company has a market capitalization of $495.81 billion, a P/E ratio of 39.15, a PEG ratio of 2.37 and a beta of 1.10. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.03 and a quick ratio of 1.03.

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

Mastercard Announces Dividend

The business also recently announced 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. This represents a $3.04 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Wednesday, April 9th. Mastercard's payout ratio is 21.89%.

Mastercard declared that its Board of Directors has approved a share repurchase program 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 buy up to 2.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MA. JPMorgan Chase & Co. raised their price objective on shares of Mastercard from $590.00 to $610.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. KeyCorp boosted their price target on Mastercard from $600.00 to $630.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Wells Fargo & Company increased their price objective on Mastercard from $585.00 to $625.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Barclays boosted their target price on shares of Mastercard from $595.00 to $650.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Finally, Monness Crespi & Hardt raised shares of Mastercard from a "neutral" rating to a "buy" rating and set a $640.00 price target on the stock in a research note on Friday, January 31st. Four equities research 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, Mastercard currently has a consensus rating of "Moderate Buy" and an average price target of $606.11.

Insider Activity

In other news, insider Edward Grunde Mclaughlin sold 7,132 shares of the company's stock in a transaction on 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 transaction, the insider now directly owns 34,524 shares in the company, valued at approximately $18,459,292.32. This represents a 17.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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.