Redmond Asset Management LLC Has $3.44 Million Stock Holdings in Mastercard Incorporated (NYSE:MA)

Redmond Asset Management LLC trimmed its holdings in shares of Mastercard Incorporated (NYSE:MA) by 1.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,534 shares of the credit services provider’s stock after selling 118 shares during the quarter. Redmond Asset Management LLC’s holdings in Mastercard were worth $3,441,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Investment Advisory Services LLC lifted its stake in Mastercard by 0.6% in the fourth quarter. Capital Investment Advisory Services LLC now owns 3,135 shares of the credit services provider’s stock valued at $1,651,000 after purchasing an additional 19 shares during the last quarter. Capital Investment Services of America Inc. raised its stake in shares of Mastercard by 4.2% in the fourth quarter. Capital Investment Services of America Inc. now owns 475 shares of the credit services provider’s stock valued at $250,000 after buying an additional 19 shares during the period. Augustine Asset Management Inc. lifted its position in shares of Mastercard by 1.1% during the 4th quarter. Augustine Asset Management Inc. now owns 1,797 shares of the credit services provider’s stock valued at $946,000 after buying an additional 19 shares during the last quarter. Goldstein Advisors LLC grew its stake in shares of Mastercard by 1.3% during the 3rd quarter. Goldstein Advisors LLC now owns 1,516 shares of the credit services provider’s stock worth $749,000 after acquiring an additional 20 shares during the period. Finally, Community Bank N.A. increased its holdings in Mastercard by 0.9% in the 3rd quarter. Community Bank N.A. now owns 2,190 shares of the credit services provider’s stock worth $1,081,000 after acquiring an additional 20 shares during the last quarter. 97.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on MA shares. Royal Bank of Canada boosted their price target on shares of Mastercard from $572.00 to $650.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods boosted their target price on shares of Mastercard from $618.00 to $665.00 and gave the company an “outperform” rating in a report on Friday, January 31st. UBS Group raised their price target on Mastercard from $600.00 to $660.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Barclays boosted their price objective on Mastercard from $595.00 to $650.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Raymond James restated an “outperform” rating and issued a $640.00 target price (up previously from $614.00) on shares of Mastercard in a research note on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $606.11.

Mastercard Stock Down 1.0 %

Shares of NYSE:MA opened at $557.44 on Friday. Mastercard Incorporated has a 12-month low of $428.86 and a 12-month high of $576.94. 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 stock’s 50-day moving average price is $538.98 and its 200-day moving average price is $513.33. The stock has a market capitalization of $508.22 billion, a P/E ratio of 40.13, a price-to-earnings-growth ratio of 2.37 and a beta of 1.10.

Mastercard (NYSE:MA) last announced its quarterly 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%. On average, equities analysts anticipate that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Wednesday, April 9th will be given a dividend of $0.76 per share. The ex-dividend date is Wednesday, April 9th. This represents a $3.04 annualized dividend and a yield of 0.55%. Mastercard’s payout ratio is currently 21.89%.

Mastercard declared that its board has initiated a share 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 buy up to 2.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

About Mastercard

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.