Summit Global Investments Sells 5,111 Shares of Mastercard Incorporated (NYSE:MA)

Summit Global Investments lessened its holdings in Mastercard Incorporated (NYSE:MA - Free Report) by 22.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,116 shares of the credit services provider's stock after selling 5,111 shares during the quarter. Summit Global Investments' holdings in Mastercard were worth $9,540,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MA. Temasek Holdings Private Ltd raised its stake in shares of Mastercard by 2.3% during the third quarter. Temasek Holdings Private Ltd now owns 2,805,554 shares of the credit services provider's stock valued at $1,385,383,000 after acquiring an additional 62,891 shares during the last quarter. Cardano Risk Management B.V. increased its holdings in Mastercard by 2.7% in the fourth quarter. Cardano Risk Management B.V. now owns 368,690 shares of the credit services provider's stock valued at $194,141,000 after purchasing an additional 9,611 shares during the period. Dock Street Asset Management Inc. raised its position in Mastercard by 4.5% during the 4th quarter. Dock Street Asset Management Inc. now owns 68,237 shares of the credit services provider's stock worth $35,932,000 after purchasing an additional 2,931 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Mastercard by 15.6% during the 4th quarter. Nordea Investment Management AB now owns 2,510,756 shares of the credit services provider's stock worth $1,325,353,000 after buying an additional 337,905 shares during the period. Finally, Principal Financial Group Inc. grew its position in shares of Mastercard by 4.8% in the 3rd quarter. Principal Financial Group Inc. now owns 3,031,915 shares of the credit services provider's stock valued at $1,497,160,000 after buying an additional 138,842 shares during the last quarter. Institutional investors own 97.28% of the company's stock.

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Insider Transactions at Mastercard

In other news, insider Edward Grunde Mclaughlin sold 7,132 shares of the 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 completion of the sale, the insider now owns 34,524 shares of the company's stock, valued at approximately $18,459,292.32. This represents a 17.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MA. Susquehanna lifted their price objective on Mastercard from $605.00 to $670.00 and gave the stock a "positive" rating in a research note on Friday, January 31st. DZ Bank raised shares of Mastercard from a "hold" rating to a "buy" rating and set a $620.00 price objective for the company in a research report on Tuesday, February 4th. KeyCorp raised their price objective on Mastercard from $600.00 to $630.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Piper Sandler restated an "overweight" rating and set a $635.00 price target (up previously from $591.00) on shares of Mastercard 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 price objective on the stock in a research note 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $606.11.

Mastercard Stock Performance

NYSE MA traded down $1.09 during trading on Tuesday, hitting $542.58. 641,669 shares of the company's stock traded hands, compared to its average volume of 2,716,219. The business has a 50 day moving average of $548.32 and a 200-day moving average of $525.42. The stock has a market capitalization of $494.67 billion, a price-to-earnings ratio of 39.06, a PEG ratio of 2.37 and a beta of 1.10. Mastercard Incorporated has a 12-month low of $428.86 and a 12-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.

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

Mastercard announced that its Board of Directors has initiated 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 shares through open market purchases. Shares repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

Mastercard Announces Dividend

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

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.