Mackay Shields LLC Sells 30,916 Shares of Mastercard Inc (NYSE:MA)

Mackay Shields LLC lowered its stake in shares of Mastercard Inc (NYSE:MA) by 9.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 286,708 shares of the credit services provider’s stock after selling 30,916 shares during the quarter. Mastercard comprises 0.6% of Mackay Shields LLC’s holdings, making the stock its 22nd largest holding. Mackay Shields LLC’s holdings in Mastercard were worth $85,608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. Magnus Financial Group LLC raised its stake in shares of Mastercard by 1.1% in the fourth quarter. Magnus Financial Group LLC now owns 3,016 shares of the credit services provider’s stock worth $901,000 after purchasing an additional 34 shares during the last quarter. Old Port Advisors raised its stake in shares of Mastercard by 1.9% in the fourth quarter. Old Port Advisors now owns 1,913 shares of the credit services provider’s stock worth $576,000 after purchasing an additional 35 shares during the last quarter. We Are One Seven LLC raised its position in Mastercard by 1.9% during the fourth quarter. We Are One Seven LLC now owns 1,846 shares of the credit services provider’s stock valued at $551,000 after acquiring an additional 35 shares in the last quarter. Iberiabank Corp raised its position in Mastercard by 1.4% during the fourth quarter. Iberiabank Corp now owns 2,562 shares of the credit services provider’s stock valued at $765,000 after acquiring an additional 35 shares in the last quarter. Finally, Personal Resources Investment & Strategic Management Inc. raised its position in Mastercard by 2.3% during the fourth quarter. Personal Resources Investment & Strategic Management Inc. now owns 1,631 shares of the credit services provider’s stock valued at $487,000 after acquiring an additional 36 shares in the last quarter. 70.54% of the stock is currently owned by institutional investors.

MA traded up $4.43 during trading on Friday, hitting $290.25. The company’s stock had a trading volume of 12,845,377 shares, compared to its average volume of 4,692,052. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.44. Mastercard Inc has a twelve month low of $215.93 and a twelve month high of $347.25. The business’s fifty day simple moving average is $324.33 and its 200 day simple moving average is $292.22. The firm has a market capitalization of $299.56 billion, a price-to-earnings ratio of 36.56, a P/E/G ratio of 2.20 and a beta of 1.01.

Mastercard (NYSE:MA) last issued its quarterly earnings data on Wednesday, January 29th. The credit services provider reported $1.96 EPS for the quarter, beating the consensus estimate of $1.87 by $0.09. Mastercard had a return on equity of 150.46% and a net margin of 48.08%. The company had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.40 billion. During the same period last year, the company earned $1.55 earnings per share. Mastercard’s quarterly revenue was up 15.9% compared to the same quarter last year. As a group, equities research analysts forecast that Mastercard Inc will post 8.93 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Thursday, April 9th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.55%. The ex-dividend date is Wednesday, April 8th. Mastercard’s payout ratio is currently 20.59%.

Mastercard announced that its Board of Directors has initiated a share buyback program on Tuesday, December 3rd that permits the company to repurchase $8.00 billion in outstanding shares. This repurchase authorization permits the credit services provider to purchase up to 2.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Several brokerages recently weighed in on MA. Nomura reiterated a “buy” rating on shares of Mastercard in a research report on Monday, January 20th. Tigress Financial reiterated a “buy” rating on shares of Mastercard in a research report on Monday, December 23rd. William Blair reiterated an “outperform” rating on shares of Mastercard in a research report on Wednesday, January 29th. Cantor Fitzgerald lifted their price target on Mastercard from $315.00 to $359.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Finally, Morgan Stanley lifted their price target on Mastercard from $338.00 to $360.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Three analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $337.58.

In other news, insider Michael Miebach sold 4,205 shares of Mastercard stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $295.10, for a total value of $1,240,895.50. Following the sale, the insider now directly owns 16,983 shares of the company’s stock, valued at $5,011,683.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Venkata R. Madabhushi sold 954 shares of Mastercard stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $335.00, for a total value of $319,590.00. Following the completion of the sale, the chief marketing officer now directly owns 13,093 shares in the company, valued at $4,386,155. The disclosure for this sale can be found here. Over the last three months, insiders sold 430,024 shares of company stock worth $137,189,140. 3.70% of the stock is owned by corporate insiders.

Mastercard Company Profile

Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers related products and services.

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Institutional Ownership by Quarter for Mastercard (NYSE:MA)

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