Riverbend Wealth Management LLC Purchases Shares of 1,895 Mastercard Incorporated (NYSE:MA)

Riverbend Wealth Management LLC acquired a new position in Mastercard Incorporated (NYSE:MA) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 1,895 shares of the credit services provider’s stock, valued at approximately $1,003,000.

Several other hedge funds have also recently made changes to their positions in the business. Addison Advisors LLC increased its position 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 worth $260,000 after acquiring an additional 18 shares during the period. Capital Investment Advisory Services LLC grew 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 worth $1,651,000 after purchasing an additional 19 shares in the last quarter. Capital Investment Services of America Inc. increased its holdings in Mastercard by 4.2% during the 4th quarter. Capital Investment Services of America Inc. now owns 475 shares of the credit services provider’s stock worth $250,000 after purchasing an additional 19 shares during the period. Augustine Asset Management Inc. raised its position in 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 purchasing an additional 19 shares in the last quarter. Finally, Richard W. Paul & Associates LLC lifted its holdings in shares of Mastercard by 0.9% in the 4th quarter. Richard W. Paul & Associates LLC now owns 2,245 shares of the credit services provider’s stock worth $1,182,000 after buying an additional 19 shares during the period. 97.28% of the stock is owned by hedge funds and other institutional investors.

Mastercard Stock Performance

Shares of MA stock opened at $535.80 on Tuesday. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.03 and a quick ratio of 1.03. The business has a fifty day moving average of $545.35 and a 200 day moving average of $521.61. The firm has a market capitalization of $488.49 billion, a price-to-earnings ratio of 38.57, a price-to-earnings-growth ratio of 2.37 and a beta of 1.10. Mastercard Incorporated has a 1 year low of $428.86 and a 1 year high of $582.23.

Mastercard (NYSE:MA) last announced its quarterly earnings data 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, research analysts expect that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Announces Dividend

The firm also recently disclosed 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. This represents a $3.04 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend is Wednesday, April 9th. Mastercard’s dividend payout ratio (DPR) is currently 21.89%.

Mastercard declared that its Board of Directors has initiated a stock buyback plan on Tuesday, December 17th that authorizes the company to repurchase $12.00 billion in shares. This repurchase authorization authorizes the credit services provider to buy up to 2.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MA. Jefferies Financial Group raised their price target on Mastercard from $590.00 to $610.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Raymond James reissued an “outperform” rating and set a $640.00 target price (up previously from $614.00) on shares of Mastercard in a research report on Friday, January 31st. Piper Sandler reaffirmed an “overweight” rating and issued a $635.00 price target (up previously from $591.00) on shares of Mastercard in a research report on Friday, January 31st. JPMorgan Chase & Co. increased their price objective on shares of Mastercard from $590.00 to $610.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Mastercard from $618.00 to $665.00 and gave the stock an “outperform” rating 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 issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $606.11.

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.