M&T Bank Corp lowered its holdings in shares of Mastercard Incorporated (NYSE:MA - Free Report) by 4.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 442,429 shares of the credit services provider's stock after selling 18,369 shares during the period. M&T Bank Corp's holdings in Mastercard were worth $218,472,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Goldstein Advisors LLC grew its holdings in Mastercard by 1.3% in the 3rd quarter. Goldstein Advisors LLC now owns 1,516 shares of the credit services provider's stock worth $749,000 after acquiring an additional 20 shares during the last quarter. Community Bank N.A. boosted its holdings in shares of Mastercard by 0.9% during the third quarter. Community Bank N.A. now owns 2,190 shares of the credit services provider's stock worth $1,081,000 after purchasing an additional 20 shares during the period. Raab & Moskowitz Asset Management LLC grew its stake in shares of Mastercard by 1.5% in the third quarter. Raab & Moskowitz Asset Management LLC now owns 1,398 shares of the credit services provider's stock worth $690,000 after purchasing an additional 20 shares during the last quarter. McLean Asset Management Corp increased its holdings in Mastercard by 1.3% during the 3rd quarter. McLean Asset Management Corp now owns 1,677 shares of the credit services provider's stock valued at $834,000 after purchasing an additional 21 shares during the period. Finally, Oldfather Financial Services LLC raised its position in Mastercard by 2.6% during the 3rd quarter. Oldfather Financial Services LLC now owns 827 shares of the credit services provider's stock valued at $408,000 after purchasing an additional 21 shares during the last quarter. Institutional investors own 97.28% of the company's stock.
A number of brokerages have recently weighed in on MA. Macquarie lifted their price objective on Mastercard from $505.00 to $565.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Susquehanna lifted their price target on shares of Mastercard from $540.00 to $605.00 and gave the company a "positive" rating in a report on Friday, November 1st. Mizuho boosted their price objective on shares of Mastercard from $496.00 to $532.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Citigroup raised their target price on shares of Mastercard from $566.00 to $572.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. Finally, Barclays boosted their price target on shares of Mastercard from $536.00 to $576.00 and gave the company an "overweight" rating in a research report on Thursday, October 10th. Three analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $562.76.
Check Out Our Latest Research Report on Mastercard
MA stock opened at $528.03 on Friday. The stock has a market capitalization of $484.64 billion, a PE ratio of 39.94, a price-to-earnings-growth ratio of 2.38 and a beta of 1.10. The stock's 50 day simple moving average is $520.12 and its 200 day simple moving average is $484.02. Mastercard Incorporated has a 12-month low of $416.53 and a 12-month high of $537.13. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 2.36.
Mastercard (NYSE:MA - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The credit services provider reported $3.89 EPS for the quarter, beating the consensus estimate of $3.73 by $0.16. Mastercard had a return on equity of 178.27% and a net margin of 45.26%. The company had revenue of $7.37 billion for the quarter, compared to analysts' expectations of $7.27 billion. During the same period last year, the firm posted $3.39 earnings per share. Mastercard's revenue was up 12.8% compared to the same quarter last year. As a group, research analysts forecast that Mastercard Incorporated will post 14.47 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Thursday, January 9th will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 0.58%. This is a boost from Mastercard's previous quarterly dividend of $0.66. The ex-dividend date is Thursday, January 9th. Mastercard's payout ratio is presently 19.97%.
Mastercard declared that its board has authorized a stock repurchase plan on Tuesday, December 17th that permits the company to buyback $12.00 billion in outstanding shares. This buyback authorization permits the credit services provider to purchase up to 2.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its shares are undervalued.
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.
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