Meeder Asset Management Inc. Raises Stock Holdings in Mastercard Incorporated (NYSE:MA)

Meeder Asset Management Inc. grew its stake in Mastercard Incorporated (NYSE:MA) by 493.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 70,591 shares of the credit services provider’s stock after acquiring an additional 58,697 shares during the period. Mastercard accounts for about 2.6% of Meeder Asset Management Inc.’s investment portfolio, making the stock its 10th biggest position. Meeder Asset Management Inc.’s holdings in Mastercard were worth $37,171,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Principal Financial Group Inc. raised its holdings in Mastercard by 4.8% during the 3rd quarter. Principal Financial Group Inc. now owns 3,031,915 shares of the credit services provider’s stock worth $1,497,160,000 after purchasing an additional 138,842 shares during the last quarter. Cobblestone Capital Advisors LLC NY raised its stake in shares of Mastercard by 0.8% during the third quarter. Cobblestone Capital Advisors LLC NY now owns 3,986 shares of the credit services provider’s stock worth $1,968,000 after buying an additional 31 shares during the last quarter. Erste Asset Management GmbH acquired a new position in Mastercard in the third quarter valued at approximately $51,962,000. B&L Asset Management LLC bought a new position in Mastercard in the third quarter valued at approximately $6,676,000. Finally, FSA Wealth Management LLC acquired a new stake in Mastercard during the 3rd quarter worth $54,000. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Mastercard Price Performance

MA stock opened at $540.57 on Monday. The stock has a market cap of $492.84 billion, a price-to-earnings ratio of 38.92, a P/E/G ratio of 2.37 and a beta of 1.10. 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 has a 50 day simple moving average of $550.58 and a 200 day simple moving average of $527.19. Mastercard Incorporated has a 1 year low of $428.86 and a 1 year high of $582.23.

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

Mastercard announced that its board has authorized a share repurchase plan on Tuesday, December 17th that permits the company to buyback $12.00 billion in shares. This buyback authorization permits the credit services provider to reacquire up to 2.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Mastercard Announces Dividend

The company 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. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend is Wednesday, April 9th. Mastercard’s payout ratio is 21.89%.

Insider Transactions at Mastercard

In other news, CEO Michael Miebach sold 15,775 shares of Mastercard stock in a transaction on Wednesday, March 26th. The shares were 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 owns 84,871 shares in the company, valued at approximately $46,692,629.36. The trade was a 15.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Edward Grunde Mclaughlin sold 7,132 shares of the stock in a transaction 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 completion of the sale, the insider now owns 34,524 shares of the company’s stock, valued at $18,459,292.32. The trade was a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

MA has been the topic of several analyst reports. Monness Crespi & Hardt raised Mastercard from a “neutral” rating to a “buy” rating and set a $640.00 target price on the stock in a research note on Friday, January 31st. Piper Sandler reissued an “overweight” rating and issued a $635.00 target price (up from $591.00) on shares of Mastercard in a research note on Friday, January 31st. JPMorgan Chase & Co. increased their target price on Mastercard from $590.00 to $610.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Keefe, Bruyette & Woods boosted their price objective on shares of Mastercard from $618.00 to $665.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Finally, Seaport Res Ptn downgraded shares of Mastercard from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Four equities 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 company. Based on data from MarketBeat, Mastercard currently has a consensus rating of “Moderate Buy” and a consensus target price of $606.11.

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.