Fortis Capital Management LLC Raises Position in Mastercard Incorporated (NYSE:MA)

Fortis Capital Management LLC raised its stake in Mastercard Incorporated (NYSE:MA) by 0.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 11,019 shares of the credit services provider’s stock after purchasing an additional 50 shares during the quarter. Mastercard accounts for 1.1% of Fortis Capital Management LLC’s portfolio, making the stock its 24th biggest position. Fortis Capital Management LLC’s holdings in Mastercard were worth $5,802,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp increased its stake in shares of Mastercard by 0.7% during the third quarter. State Street Corp now owns 35,288,912 shares of the credit services provider’s stock valued at $17,425,665,000 after purchasing an additional 257,312 shares in the last quarter. FMR LLC raised its position in Mastercard by 3.4% in the 3rd quarter. FMR LLC now owns 21,355,081 shares of the credit services provider’s stock worth $10,545,139,000 after buying an additional 700,769 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Mastercard by 2.5% during the third quarter. Geode Capital Management LLC now owns 18,375,053 shares of the credit services provider’s stock valued at $9,043,972,000 after purchasing an additional 453,773 shares during the last quarter. Franklin Resources Inc. raised its stake in Mastercard by 4.2% during the 3rd quarter. Franklin Resources Inc. now owns 7,501,814 shares of the credit services provider’s stock valued at $3,800,836,000 after buying an additional 304,293 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Mastercard by 1.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,308,684 shares of the credit services provider’s stock valued at $3,115,228,000 after acquiring an additional 64,456 shares during the last quarter. 97.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on MA. Macquarie upped their target price on shares of Mastercard from $565.00 to $645.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Wells Fargo & Company upped their price target on Mastercard from $585.00 to $625.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Jefferies Financial Group raised their price objective on Mastercard from $590.00 to $610.00 and gave the company a “buy” rating in a research report on Monday, December 9th. KeyCorp increased their price objective on shares of Mastercard from $600.00 to $630.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. boosted their price objective on Mastercard from $590.00 to $610.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Four analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $606.11.

Insiders Place Their Bets

In related news, insider Edward Grunde Mclaughlin sold 7,132 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 34,524 shares in the company, valued at approximately $18,459,292.32. This represents a 17.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.10% of the stock is owned by insiders.

Mastercard Price Performance

Shares of MA opened at $535.14 on Friday. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $487.89 billion, a PE ratio of 38.53, a PEG ratio of 2.37 and a beta of 1.10. The company has a 50 day moving average price of $547.55 and a 200-day moving average price of $524.65. Mastercard Incorporated has a fifty-two week low of $428.86 and a fifty-two week high of $582.23.

Mastercard (NYSE:MA) last released its quarterly earnings results on Thursday, January 30th. The credit services provider reported $3.82 earnings per share for the quarter, beating analysts’ consensus estimates of $3.71 by $0.11. Mastercard had a net margin of 45.71% and a return on equity of 188.47%. Equities analysts predict that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Wednesday, April 9th will be paid a dividend of $0.76 per share. The ex-dividend date is Wednesday, April 9th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.57%. Mastercard’s payout ratio is 21.89%.

Mastercard announced that its Board of Directors has authorized a stock repurchase program on Tuesday, December 17th that authorizes the company to buyback $12.00 billion in outstanding shares. This buyback authorization authorizes the credit services provider to repurchase up to 2.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

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.