Veritas Asset Management LLP Cuts Position in Mastercard Incorporated (NYSE:MA)

Veritas Asset Management LLP decreased its holdings in Mastercard Incorporated (NYSE:MA) by 40.0% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 867,937 shares of the credit services provider’s stock after selling 578,335 shares during the period. Mastercard makes up about 4.3% of Veritas Asset Management LLP’s investment portfolio, making the stock its 12th largest position. Veritas Asset Management LLP owned 0.09% of Mastercard worth $457,030,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of MA. Addison Advisors LLC raised its stake in shares of Mastercard by 3.8% during the fourth quarter. Addison Advisors LLC now owns 493 shares of the credit services provider’s stock valued at $260,000 after purchasing an additional 18 shares during the period. Capital Investment Advisory Services LLC boosted its holdings 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 worth $1,651,000 after purchasing an additional 19 shares during the period. Capital Investment Services of America Inc. boosted its holdings in shares of Mastercard by 4.2% during 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 acquiring an additional 19 shares during the period. Augustine Asset Management Inc. boosted its holdings in shares of Mastercard by 1.1% during the fourth quarter. Augustine Asset Management Inc. now owns 1,797 shares of the credit services provider’s stock valued at $946,000 after acquiring an additional 19 shares during the period. Finally, Community Bank N.A. boosted its holdings in shares of Mastercard by 0.9% during the third quarter. Community Bank N.A. now owns 2,190 shares of the credit services provider’s stock valued at $1,081,000 after acquiring an additional 20 shares during the period. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Mastercard Stock Up 0.2 %

Shares of MA stock opened at $558.44 on Tuesday. Mastercard Incorporated has a 12 month low of $428.86 and a 12 month high of $576.94. The firm has a market cap of $509.13 billion, a PE ratio of 40.20, a price-to-earnings-growth ratio of 2.37 and a beta of 1.10. The stock has a 50 day moving average of $539.55 and a 200-day moving average of $514.96. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.68.

Mastercard (NYSE:MA) last issued 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 predict that Mastercard Incorporated will post 15.91 EPS for the current year.

Mastercard declared that its board has initiated a stock repurchase program on Tuesday, December 17th that authorizes the company to buyback $12.00 billion in shares. This buyback authorization authorizes the credit services provider to repurchase up to 2.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Mastercard Announces Dividend

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 paid a $0.76 dividend. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.54%. Mastercard’s payout ratio is 21.89%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Mastercard from $510.00 to $580.00 and gave the company a “buy” rating in a report on Friday, November 1st. Macquarie boosted 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. William Blair reaffirmed an “outperform” rating on shares of Mastercard in a report 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 report on Tuesday, February 4th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $635.00 price objective (up previously from $591.00) on shares of Mastercard in a report 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $606.11.

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.