Summit Global Investments Purchases 533 Shares of Mastercard Incorporated (NYSE:MA)

Summit Global Investments raised its position in Mastercard Incorporated (NYSE:MA) by 10.8% in the 4th quarter, Holdings Channel reports. The firm owned 5,466 shares of the credit services provider’s stock after buying an additional 533 shares during the quarter. Summit Global Investments’ holdings in Mastercard were worth $2,331,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Activest Wealth Management boosted its position in shares of Mastercard by 87.4% during the 4th quarter. Activest Wealth Management now owns 536 shares of the credit services provider’s stock valued at $229,000 after acquiring an additional 250 shares during the last quarter. Cross Staff Investments Inc grew its stake in Mastercard by 16.3% in the 4th quarter. Cross Staff Investments Inc now owns 3,148 shares of the credit services provider’s stock worth $1,343,000 after buying an additional 441 shares in the last quarter. Everett Harris & Co. CA increased its holdings in shares of Mastercard by 0.5% in the 4th quarter. Everett Harris & Co. CA now owns 49,539 shares of the credit services provider’s stock worth $21,129,000 after buying an additional 252 shares during the last quarter. Atlantic Union Bankshares Corp raised its position in shares of Mastercard by 23.9% during the 4th quarter. Atlantic Union Bankshares Corp now owns 12,124 shares of the credit services provider’s stock valued at $5,171,000 after buying an additional 2,337 shares in the last quarter. Finally, J.Safra Asset Management Corp lifted its holdings in shares of Mastercard by 7.2% during the 4th quarter. J.Safra Asset Management Corp now owns 490 shares of the credit services provider’s stock worth $209,000 after acquiring an additional 33 shares during the last quarter. 97.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Oppenheimer restated an “outperform” rating and set a $510.00 price target on shares of Mastercard in a research report on Thursday, February 1st. TD Cowen assumed coverage on Mastercard in a research note on Thursday, April 11th. They issued a “buy” rating and a $545.00 target price for the company. Raymond James lifted their price target on shares of Mastercard from $452.00 to $504.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. KeyCorp upped their price objective on shares of Mastercard from $475.00 to $490.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Finally, Mizuho reduced their target price on shares of Mastercard from $480.00 to $478.00 and set a “buy” rating on the stock in a report on Thursday. Two analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Mastercard presently has a consensus rating of “Moderate Buy” and an average target price of $493.55.

Insider Buying and Selling

In other Mastercard news, major shareholder Foundation Mastercard sold 200 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $487.25, for a total transaction of $97,450.00. Following the completion of the transaction, the insider now owns 97,543,308 shares of the company’s stock, valued at $47,527,976,823. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Michael Miebach sold 7,851 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $475.92, for a total transaction of $3,736,447.92. Following the completion of the transaction, the chief executive officer now owns 47,640 shares of the company’s stock, valued at approximately $22,672,828.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Foundation Mastercard sold 200 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $487.25, for a total value of $97,450.00. Following the completion of the sale, the insider now directly owns 97,543,308 shares in the company, valued at $47,527,976,823. The disclosure for this sale can be found here. Insiders have sold a total of 583,088 shares of company stock valued at $266,873,978 over the last ninety days. Company insiders own 0.13% of the company’s stock.

Mastercard Trading Up 0.6 %

NYSE MA traded up $2.51 during trading on Friday, hitting $443.61. The company had a trading volume of 3,711,502 shares, compared to its average volume of 2,472,272. The company’s fifty day moving average is $470.17 and its 200-day moving average is $437.44. Mastercard Incorporated has a one year low of $357.85 and a one year high of $490.00. The company has a current ratio of 1.09, a quick ratio of 1.17 and a debt-to-equity ratio of 1.86. The company has a market cap of $413.84 billion, a price-to-earnings ratio of 35.26, a price-to-earnings-growth ratio of 1.68 and a beta of 1.08.

Mastercard (NYSE:MA) last announced its quarterly earnings results on Wednesday, May 1st. The credit services provider reported $3.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.09. The company had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.34 billion. Mastercard had a net margin of 46.09% and a return on equity of 183.70%. Mastercard’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.80 earnings per share. On average, sell-side analysts predict that Mastercard Incorporated will post 14.32 earnings per share for the current year.

Mastercard Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Tuesday, April 9th will be given a dividend of $0.66 per share. The ex-dividend date is Monday, April 8th. This represents a $2.64 annualized dividend and a dividend yield of 0.60%. Mastercard’s dividend payout ratio is presently 20.99%.

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.