Cornercap Investment Counsel Inc. Sells 72 Shares of Mastercard Incorporated (NYSE:MA)

Cornercap Investment Counsel Inc. reduced its stake in shares of Mastercard Incorporated (NYSE:MA) by 2.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,115 shares of the credit services provider’s stock after selling 72 shares during the quarter. Mastercard makes up 0.5% of Cornercap Investment Counsel Inc.’s holdings, making the stock its 29th largest position. Cornercap Investment Counsel Inc.’s holdings in Mastercard were worth $1,640,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in MA. Intrust Bank NA lifted its position in Mastercard by 0.5% during the fourth quarter. Intrust Bank NA now owns 7,583 shares of the credit services provider’s stock valued at $3,993,000 after acquiring an additional 40 shares during the last quarter. Biondo Investment Advisors LLC grew its stake in Mastercard by 0.5% during the 4th quarter. Biondo Investment Advisors LLC now owns 75,388 shares of the credit services provider’s stock worth $39,697,000 after buying an additional 372 shares during the last quarter. Allstate Corp grew its stake in Mastercard by 3,338.5% during the 4th quarter. Allstate Corp now owns 24,448 shares of the credit services provider’s stock worth $12,874,000 after buying an additional 23,737 shares during the last quarter. Maridea Wealth Management LLC purchased a new stake in Mastercard in the fourth quarter valued at about $538,000. Finally, RiverFront Investment Group LLC acquired a new stake in Mastercard in the fourth quarter worth about $1,459,000. Institutional investors own 97.28% of the company’s stock.

Insiders Place Their Bets

In related news, insider Edward Grunde Mclaughlin sold 7,132 shares of the business’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $534.68, for a total value of $3,813,337.76. Following the sale, the insider now directly owns 34,524 shares in the company, valued at approximately $18,459,292.32. The trade was a 17.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Miebach sold 15,775 shares of the stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $550.16, for a total transaction of $8,678,774.00. Following the transaction, the chief executive officer now directly owns 84,871 shares of the company’s stock, valued at approximately $46,692,629.36. This trade represents a 15.67 % decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

Mastercard Trading Down 3.0 %

MA opened at $540.57 on Friday. 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 company’s 50 day simple moving average is $550.58 and its two-hundred day simple moving average is $526.65. The firm has a market capitalization of $492.84 billion, a price-to-earnings ratio of 38.92, 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 released its quarterly earnings data on Thursday, January 30th. The credit services provider reported $3.82 earnings per share 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%. Analysts expect that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Mastercard declared that its board has approved a stock repurchase program on Tuesday, December 17th that permits the company to buyback $12.00 billion in shares. This buyback authorization permits the credit services provider to purchase up to 2.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Mastercard Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Wednesday, April 9th will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Wednesday, April 9th. Mastercard’s payout ratio is currently 21.89%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MA. Morgan Stanley cut their price objective on shares of Mastercard from $654.00 to $644.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Piper Sandler reiterated an “overweight” rating and set a $635.00 price objective (up from $591.00) on shares of Mastercard in a research note on Friday, January 31st. Oppenheimer cut their target price on Mastercard from $591.00 to $588.00 and set an “outperform” rating on the stock in a research report on Thursday, December 19th. DZ Bank raised Mastercard from a “hold” rating to a “buy” rating and set a $620.00 price target for the company in a research report on Tuesday, February 4th. Finally, Royal Bank of Canada boosted their price target on Mastercard from $572.00 to $650.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.