Bleakley Financial Group LLC Boosts Stock Position in Mastercard Incorporated (NYSE:MA)

Bleakley Financial Group LLC grew its stake in Mastercard Incorporated (NYSE:MA) by 0.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,535 shares of the credit services provider’s stock after buying an additional 107 shares during the period. Bleakley Financial Group LLC’s holdings in Mastercard were worth $12,919,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Highline Wealth Partners LLC purchased a new position in Mastercard during the third quarter worth about $25,000. First Personal Financial Services purchased a new position in shares of Mastercard during the 3rd quarter worth approximately $39,000. FSA Wealth Management LLC acquired a new position in shares of Mastercard in the third quarter worth $54,000. Raelipskie Partnership lifted its holdings in Mastercard by 120.0% in the 3rd quarter. Raelipskie Partnership now owns 110 shares of the credit services provider’s stock valued at $54,000 after purchasing an additional 60 shares in the last quarter. Finally, Legacy Investment Solutions LLC purchased a new stake in Mastercard in the 3rd quarter worth approximately $55,000. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. 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 report on Friday, January 31st. Mizuho upped their price target on shares of Mastercard from $496.00 to $532.00 and gave the company an “outperform” rating in a report on Friday, November 1st. BMO Capital Markets lifted their target price on Mastercard from $550.00 to $565.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Wells Fargo & Company increased their price objective on shares of Mastercard from $585.00 to $625.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Jefferies Financial Group increased their price objective on shares of Mastercard from $590.00 to $610.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $603.08.

Mastercard Stock Up 1.2 %

MA opened at $566.05 on Thursday. The stock has a market cap of $519.53 billion, a PE ratio of 40.75, a price-to-earnings-growth ratio of 2.23 and a beta of 1.10. The company has a current ratio of 1.03, a quick ratio of 1.29 and a debt-to-equity ratio of 2.68. Mastercard Incorporated has a 1-year low of $428.86 and a 1-year high of $576.94. The stock’s fifty day simple moving average is $529.65 and its 200 day simple moving average is $503.41.

Mastercard (NYSE:MA) last issued its quarterly earnings data on Thursday, January 30th. The credit services provider reported $3.82 EPS for the quarter, beating 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%. As a group, research analysts expect that Mastercard Incorporated will post 16.04 earnings per share for the current year.

Mastercard announced that its Board of Directors has authorized a share repurchase plan on Tuesday, December 17th that authorizes the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization authorizes the credit services provider to buy up to 2.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Mastercard Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Thursday, January 9th will be given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.54%. This is an increase from Mastercard’s previous quarterly dividend of $0.66. The ex-dividend date is Friday, January 10th. Mastercard’s payout ratio is presently 21.89%.

Mastercard 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.