Mastercard Incorporated (NYSE:MA) Shares Bought by Independence Bank of Kentucky

Independence Bank of Kentucky lifted its position in shares of Mastercard Incorporated (NYSE:MA) by 40.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,735 shares of the credit services provider’s stock after purchasing an additional 1,945 shares during the period. Independence Bank of Kentucky’s holdings in Mastercard were worth $3,546,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. SeaBridge Investment Advisors LLC boosted its stake in Mastercard by 5.4% during the 4th quarter. SeaBridge Investment Advisors LLC now owns 5,938 shares of the credit services provider’s stock worth $3,127,000 after purchasing an additional 303 shares during the period. Dohj LLC raised its holdings in shares of Mastercard by 2.0% in the fourth quarter. Dohj LLC now owns 2,603 shares of the credit services provider’s stock valued at $1,371,000 after buying an additional 50 shares during the last quarter. Western Financial Corp CA boosted its stake in shares of Mastercard by 201.6% during the fourth quarter. Western Financial Corp CA now owns 1,731 shares of the credit services provider’s stock worth $911,000 after buying an additional 1,157 shares during the period. China Universal Asset Management Co. Ltd. grew its holdings in shares of Mastercard by 7.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 15,935 shares of the credit services provider’s stock worth $8,391,000 after buying an additional 1,101 shares during the last quarter. Finally, Destiny Wealth Partners LLC acquired a new position in Mastercard in the 4th quarter valued at about $382,000. 97.28% of the stock is owned by hedge funds and other institutional investors.

Mastercard Stock Performance

NYSE MA opened at $555.63 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 2.36. Mastercard Incorporated has a fifty-two week low of $428.86 and a fifty-two week high of $576.94. The business has a fifty day moving average of $528.28 and a 200-day moving average of $501.03. The stock has a market cap of $509.97 billion, a price-to-earnings ratio of 42.03, a price-to-earnings-growth ratio of 2.17 and a beta of 1.10.

Mastercard (NYSE:MA) last released its earnings results on Thursday, January 30th. The credit services provider reported $3.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.71 by $0.11. Mastercard had a net margin of 45.26% and a return on equity of 178.27%. As a group, analysts predict that Mastercard Incorporated will post 14.47 earnings per share for the current fiscal year.

Mastercard Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Thursday, January 9th will be given a dividend of $0.76 per share. The ex-dividend date is Friday, January 10th. This represents a $3.04 dividend on an annualized basis and a yield of 0.55%. This is a positive change from Mastercard’s previous quarterly dividend of $0.66. Mastercard’s dividend payout ratio (DPR) is 23.00%.

Mastercard announced that its Board of Directors has initiated a share repurchase program on Tuesday, December 17th that allows the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization allows the credit services provider to purchase up to 2.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Barclays lifted their target price on Mastercard from $536.00 to $576.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Macquarie boosted their price objective on shares of Mastercard from $565.00 to $645.00 and gave the company an “outperform” rating in a research note on Friday. Morgan Stanley reduced their target price on shares of Mastercard from $654.00 to $644.00 and set an “overweight” rating for the company in a research note on Friday. Deutsche Bank Aktiengesellschaft lifted their price objective on Mastercard from $510.00 to $580.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, UBS Group increased their target price on Mastercard from $600.00 to $660.00 and gave the stock a “buy” rating in a research note on Friday. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $595.64.

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.